How to test a business idea and save a lot of time and money

When you have a business idea, there are several options for how to test it:

  • test whether people need a product and how much they are willing to pay for it
  • conduct expensive full-scale marketing research of the market
  • spend a lot of time and money on product development, launch advertising, and sales hoping that a target audience will buy the product 

The most legitimate and optimal option is to test your business idea, find out if people need a product and how much they are willing to pay for it.

To do this, you need to create a website (landing page, promo page), conduct an advertising campaign, and analyze the results.

What steps should be taken?

Prepare basic data:

  • company and site name
  • description of the product (service)
  • draw up a portrait of the client, highlight the target audience, create a site structure
  • sales funnel
  • images and videos
  • prepare a technical specification for creating a website and conducting an advertising campaign

Note: Without a well-designed sales funnel, all your efforts may be useless. A competently drawn up technical specification will allow you to save a lot.

Design:

  • corporate identity
  • logo
  • website design

Note: Design is the face of your product and should inspire security, reliance, and excitement.

Website and technical peculiarities:

  • register a domain
  • buy the right hosting
  • select CMS (content management system)
  • configure protection against attacks
  • buy an SSL certificate
  • layout the site
  • install analytics services, heat map
  • carry out basic SEO optimization
  • set up mail on the site domain

Note: Correctly chosen CMS will allow you to make changes to both the site’s content and its functionality for free. A heatmap will enable you to see the behavior of visitors on the site.

Advertising and promotion:

  • determine which advertising channels and platforms will be most effective for your audiences
  • define keywords for advertising
  • prepare content for advertising campaigns
  • set up goals
  • set up and conduct advertising campaigns

Note: Without a properly configured advertising campaign, the money spent on it will not bring you results.

Result. Evaluation of the effectiveness of a business idea:

  • Estimate CPO (CTR, CR, CAC)
  • Draw conclusions

Note: If the indicators do not inspire optimism, then you should not immediately abandon your idea. Try to change the site, sales funnel, target audience, reconfigure advertising campaigns, and promotion channels.

How to manage it all?

There are several ways that all the above can be implemented:

Order from an agency or studio. Everything will be done at the legitimate, professional level, but it is unreasonably expensive at the stage of testing a business idea.

Do it yourself. On the one hand, no one knows your product better than you, and you can create a landing page yourself using specialized services, for example, Tilda or Wix. But on the other hand, you need to be a specialist in the design, marketing and contextual advertising to have a relevant, successful experience and to not waste time and money. Plus, websites created on services such as Tilda and Wix are immediately visible, and the client understands that this is not an exclusive solution and does not inspire confidence. Moreover, you have to spend a lot of your own time.

Hire freelancers. In this case, you need to be a professional in the areas in which you will attract specialists. You have to explain the idea to all of them, coordinate and check their work. Freelancers very often provide substandard delivery of their work and do not comply with deadlines. Therefore, you have to spend a lot of your own time and effort.

Contact us. We have extensive experience and knowledge. Unlike agencies and studios, we do not employ expensive specialists in all possible areas permanently. We do not need to take such money for work to be enough for the salaries of specialists in the absence of orders. In most cases, we involve the same professionals working in specialized agencies and studios. As a result, you get a high-quality result at a reasonable price, plus you save not only your money but also time.

Comments are closed.