Create a Related Lead Magnet
Another idea is to create a free lead magnet that’s highly related to your idea (but not necessarily a “lite” version). If people are interested in your lead magnet, that tells you that there is a market for your idea.
For example, if you’ve got an idea for a diet guide, then try offering a lead magnet with recipes related to this guide. If people eagerly claim and use this lead magnet, that’s a sign of a viable market.
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Design a “Fake” Sales Page
Yet another way to test a product or service idea is to create a sales page for it. This is a full sales page, with the only difference being that clicking on the order button does NOT lead to an order form (since you don’t have a product ready yet). Instead, it leads to an opt-in form where prospects can be notified when the product is ready.
To gauge interest, all you have to do is look to see how many people clicked the “order” button. As an added bonus, you’ll develop a list of prospects who’ll be ready to buy if you decide to pursue the idea.
4 Ways to T.E.S.T. an Idea Fast
If you’ve created a lite product or even a sales page to test an idea, then you’re going to want to test this idea fast. Here are four ways to T.E.S.T. your idea by getting traffic quickly (sometimes in less than an hour)”
- Try Google AdWords. Be sure to pick extremely targeted keywords and create a high-converting ad to get the clicks.
- Enlist Help From Partners. If you have one or more really good traffic partners (affiliates), then enlist their help to drive traffic to your page.
- Set Up a Facebook Ad. Narrow your audience by demographics and interest so that your traffic is as targeted as possible.
- Tell Your Existing Platforms. If you already have communication platforms set up (such as a newsletter, blog or social media), then spread the word across these channels to test your ideas.
Here’s another validation idea…
Look for an Audience
One of the keys to validating your idea is to make sure you have an audience. And one way to check your audience is to look at Facebook’s ad platform.
Now heads up…
For this strategy we’re NOT talking about actually running an ad campaign. Instead, all you’re doing is checking if there is an audience who’d be interested in what you’re selling. To that end, what you’ll do is set up an ad campaign so that you can check audience demographics – but do NOT actually start the campaign.
For example, let’s suppose you have an idea related to blind dogs. You can pretend to set up an ad campaign on Facebook and pick an audience based on those who’ve expressed an interest in blind dogs (such as those that have liked blind dog pages or are members of blind dog groups). This is a quick and dirty way to gauge the size of a market and whether it’s worth pursuing your idea.
Get started here: https://www.facebook.com/business.
Be Sure There is Enduring Interest
Earlier you learned about how Google Trends can help you generate ideas. You can also validate your existing ideas using this tool. Simply enter your keywords, and then double check that not only are people interested in the idea now, but they’ve shown steady if not increasing interest in the idea over time.
Check it out here: https://trends.google.com/trends/.
5 Questions to Ask Yourself
As you work through your validation process, you want to be sure you’re really clear about your idea. Ask yourself these questions:
- What problem are you solving?
- What is the #1 key benefit of your idea?
- What key feature/benefit will others in your field have a difficult time copying?
- How much time and money will it cost to create your idea? What is your break-even point?
- What potential stumbling blocks/obstacles/problems do you foresee in launching this idea?
Next…
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Get Your Ideas in Front of Existing Customers
The easiest sale you can ever make is to sell something to an existing customer. That’s why you should put your ideas in front of your customers (such as a “lite” version of your product) to gauge interest. If you can’t get this very-warm audience to bite on your offer, then you’re going to have a tough time selling others on it.
Keep Reading: How To Validate Ideas: Factors That Affect Your Research
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