LEAN MARKET TESTING

ENSURE MARKET DEMAND FOR NEW PRODUCTS AND SERVICES

Eric MorrowDigital Marketing and Product Developmentericmorrow.com

DON’T FALL FOR ‘BUILD AND THEY WILL COME’

INSTEAD: TEST IDEAS BEFORE BUILDING

Frank Gehry,

Architect

INSTEAD: TEST IDEAS BEFORE BUILDING

Jerry Seinfeld, Comedian

INSTEAD: TEST IDEAS BEFORE BUILDING

Team Wikispeed, built 100 MPG car

DON’T WASTE TIME

Build as little as you need to answer a specific question

Experiential PrototypeDo customers want my product?

Smoke Test (Pre-Sell)Will customers buy my product?

Paid BetaHow much will they pay, and for what features?

LEVATE’S EXPERIENTIAL PROTOTYPING

versus

Do wheelchair users want to be lifted from the seat, or from the whole chair?

KNEW WHAT TO BUILD!

THE SMOKE TEST

Will your customers pay?

CPC + Landing Page Cold email Crowdfunding

Paul Graham – Do things that don’t scale

XIP’S SMOKE TEST

Will university parking directors pay to have real-time occupancy data in their lots?

20 cold emails sent.8 responses in less than 24 hours.

NO PRODUCT BUILT YET!

DRIVEN ANALYTIC’S PAID BETA

Two dealerships agreed to buy beta units

Owner of one of the dealerships hit a service milestone

Asking for and getting money from customers is the best form of feedback on an idea!

WANTS DEVICE ON EVERY CAR

SOLD!

THE OPPORTUNITY

SO WHAT?

$ELL AND SCALE!!!!!

LET’S REVIEW

1. Mimic the experience, not the final product

2. Smoke tests, pre-sell

3. Pilots - True validation is when someone gives you money

QUESTIONS?

Eric MorrowDigital Marketing and Product Developmentericmorrow.com