Market Research – Startup validation

November 19, 2010 § Leave a comment

Like to share an interesting article by Siddi in idea validation.

Here is one quick & easy way to do market research that I recently
did. Its useful when you don’t have direct access to the target market
(selling to the US for example):

– Create a landing page for the product, even before product
development starts
– Describe the vision for the product and have a form saying something
like “Enter your email for updates”
– When someone adds their email, an autoresponder sends out a reply
with a link to an online survey. I say “the product is in development,
but here is your chance to shape it”
– I have a few questions relating to what their biggest problems are,
which features they would be most interested in etc
– Promote the landing page: social media, mailing lists, google
adwords

If you do this right at the beginning, you’ll be able to collect some
data before and during development which you can use to shape the
product.

The advantages are:

– The group is self-filtered. Only those interested in the landing
page vision will sign up and take the survey
– When you are ready to launch you already have some leads who are
interested in the product

What we learned:

– We gave them a list of business problems and asked them to choose
which one was the biggest problem in their organization (they can only
choose one). A huge majority selected one particular problem. We made
solving that the focus of release 1
– We had a really cool feature in mind, which we thought would solve a
really irritating problem. But in the survey, not even one person
selected it as a big problem. So we dropped the feature.

He blog at http://siddhi.blogspot.com/

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

What’s this?

You are currently reading Market Research – Startup validation at Chennai Startup - Great Minds Dicuss Ideas.

meta

%d bloggers like this: