Back to the tent example. Let say after spending 2 months of selling regular tents and talking to a bunch of customers, you found out that most of people looking for tents are looking for Solar Energy Electricity Generators at the same time. So you said to yourself “why don’t we have a tent with a solar energy system built on it so that people can charge their smart phones and laptops while in the woods or desert!! You also decided to call it “Q8Tent“. The tent of your dreams will look something like that:
I swear I didn’t know that a similar tent exist, but it does and there are many others!!! Ok, let say you get a good designer to draw a model of your tent and now you want to find out if people are willing to pay for your new awesome invention or not. Well, I think you have two good options here:
- Make a video about your product and pre-sell it in kickstarter.
- Put an advertisement in Google using Adwords.
The 1st option works best for physical items. The 2nd option works good for both physical products and web based services. Also it’s much easier and much faster to get done. Let’s apply option 2 for our tent example. If I was in this position I’ll do the following:
- Build a good drawing of the Solar tent. (or something similar to the photo above)
- Write down one simple clear sentence explaining what your tent do.
- List 5 main advantages.
- Choose a price.
- Create a landing page with all of the things you created above. Also add a form to collect users name and emails for pre-orders.
- Buy Ads from Google AdWords for the following terms (HiTech tent, Solar energy electrical generator, electricity for remote places…etc)
So now we will have a website (a one page website) that looks something like this:
Let the test run for 7-14 days and then analyze the data. Google will share with us some awesome data that will help us make decisions. Check the conversion rate (no. of clicks / no. of impressions). Watch closely how many people that clicked on our Ad made a pre-order. If lets say 50% of people who landed on our page left their emails, then you should go celebrate you are already a millionaire .
This data is highly valuable to validate your assumptions, now you have some solid numbers that back your dream. I used this technique with my own startup fishfishme.com (the landing page I’m using now is different than the test I did before) and I got an encouraging results that made me more convinced that fishfishme will be a huge hit and will make me a millionaire 🙂 (say Ameen)