You have a great idea for a business. But given that most new businesses fail, wouldn’t you like to know for sure if YOUR business idea would work BEFORE you spend $1,000s of dollars and hundreds of hours on it?
Now you can find out if your business will be successful with some very inexpensive testing techniques. Here are some ways to inexpensively test your products or services and possibly make money while doing it.
Testing Method #1 for Services and Products
Step 1 – Create a free or inexpensive e-book, special report or how-to guide that deals with your topic and would be of interest to the target market you would try to reach.
Step 2 – Create a simple online form where people can sign up for the free item.
Step 3 – Promote this free item through a variety of methods including Search Engine Advertising, Instant Buzz and/or Online Communities. Use an ad tracking service like Marketers Choice so you can tell if your advertising works.
Step 4 – Analyze the results. If there is no interest, perhaps your idea is not viable. If you had good interest from this test, the people you already connected with an interested group of prospects who are now on your subscriber list and can provide testimonials to use in your marketing. Talk with the people who signed up to find out what they thought and what additional needs they have.
This is a great way to test an idea while connecting with people who will be your eventual customers.
Testing Method # 2 for Services and Products
Step 1 – Sign up for an affiliate program for a similar, good quality product like yours that reaches the same target market you plan on working with.
Step 2 – Promote this product through a variety of methods including Search Engine Advertising, Instant Buzz and/or Online Communities. Once again, use an ad tracking service like Marketers Choice so you can tell if your advertising works.
Step 3 – Analyze the results. If successful, continue the campaign since it is making you money and substitute your own products when ready.
Testing Method # 3 for Products
Step 1 – Make a wholesale purchase of some of a competitors product that is good quality.
Step 2 – Promote this product through the world s largest online marketplace, eBay.
Step 3 – Analyze results. If successful, continue the campaign and substitute your own products when ready.
The lessons you learn in these tests can save you a LOT of time and heartache. If there is little interest, you will have to adjust your business idea and marketing approach or even consider another field entirely.
If these tests ARE successful, you now know how to market your own product or service successfully. And for you actually built your subscriber list and possibly made income while doing it.
The Internet offers great ways to test your business idea and it would be foolish not to test your idea before you throw a lot of money and time at it.
And yes, I DO have a real crystal ball if you want me to use it to see if your business will be successful.
- If You Build It Will They Come: Three Steps to Test and Validate Any Market Opportunity
- The Four Steps to the Epiphany: Successful Strategies for Products that Win
- A Good Hard Kick in the Ass: Basic Training for Entrepreneurs
- Strategic Market Research: A Guide to Conducting Research that Drives Businesses
Garland Coulson, The E-Business Tutor is an acclaimed speaker, author and coach in the field of Internet marketing for small business and home business. For more information, visit The E-Business Tutor web site at www.ebusinesstutor.com
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Category: Marketing Strategies