Have You Heard the Term Proof of Concept?
There is a process many big businesses use to test whether a product will sell or not before they ever produce it entirely. It's called Proof of Concept. The reason this method was created is that it costs a lot of money and time to develop products.
It's imperative that you use your time and resources wisely. Because if there is not a large enough market for your idea, you'll just be wasting all your time and resources. You can only know if it's going to work by doing it, but there are ways to get a leg up.
In digital marketing, there are two main ways that you can get proof of concept:
- One way to get proof of concept consists of creating something basic quickly in the vein of the main product idea, such as a small report or a checklist. Put it up for sale to your current audience and list members as a test, then if it does sell well - and only then - expand on it to create the main product with confidence because you know there is interest based on the purchases.
- The other way consists of creating a sales page that describes in full detail and includes everything the main product will offer, including a final launch date, but then open Pre-sales or early bird sales with a slightly discounted price for your current customers. Send that sales page to your existing audience and list members. If you make enough Pre-sales that make it worth it to you to create the product, go forth with full creation of the product to be finished by launch date.
With the first idea: Creating something basic quickly like a checklist or small report, even if you don't make many sales, you get to keep the money, and you still added more people to your list.
In the other method: Where you Pre-sell before you've finished creating the product, you will need to refund the money to anyone who purchased if you don't move forward with the product. It's not usually going to be a lot of people since that's why they're getting a refund. Send the refund with an explanation and send them something for their trouble, like a checklist.
Proving your idea will take a lot of uncertainty out of your business model. You'll avoid wasting time creating major products that no one wants to buy. Even when you realize an idea is not going to work, you can still get value out of it and offer your audience value from it by being 100% transparent as you go through the process.
Which, by the way, if you do it all openly by talking about it in email, on your social media platforms, and so forth, it will make you even more accessible to your target audience. After all, people crave truth and authenticity today. Your audience will feel listened to and amazed when you start showing how much you value them and their opinions, which using proof of concept can show.
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