5 Process of Market Validation
Posted 31st January 2015 at 04:44 PM by jenmidas
Validation process is where all the money is made.
You may follow the steps below and make big moolah!
1.Inspection
Come up with a market you want to go after brainstorm ideas for a product to sell to that market.
2.VALIDATE
Validate what the market is interested in your idea BUT more importantly that you can.
See what is being sold in your target market.
Where? Amazon.com, Ebay.com, magazines.com.
Look what they are trying to sell to these people.
Do they have passionate buyers?
How to validate? Via forum.
Usese the search code to find passionate buyers.
“Keyword + forum”
You can also search via facebook group.
Validation via PPC platform ( Cost-effectively).
For example. You have $79 ebook. Put it on ads and hopefully 1,000 people will rush and buy it.
But it costs you $10/click to reach your target market.
You should by now know that you will be out of business in no time if you continue the campaign.
Validation via Opt-In
If you can’t get enough people to opt-in to get your free report or software then it’s not a profitable business.
Next project!
3.PRODUCE
Do this only after you have been able to validate that you can reach the market cost-effectively, and get people to opt-in, then and only then do you proceed with producing/sourcing the product you want to sell. Otherwise it’s a waste of your time and money.
4.SELL
This is the step where you finally put up a sales page or video and actually TAKE ORDERS for your product.
Supposedly, selling should be done via email marketing.
Selling is easy after you earn their trust.
And sell only to those who “raised their hand” to your offer.
This is a ninja method and that’s a story for another day.
5.SCALE
This stage where you expand your lead generation, advertising, and start scaling up your sales as well as looking at how to increase your average revenue per customer; i.e. selling them other things.
Read More Here
You may follow the steps below and make big moolah!
1.Inspection
Come up with a market you want to go after brainstorm ideas for a product to sell to that market.
2.VALIDATE
Validate what the market is interested in your idea BUT more importantly that you can.
See what is being sold in your target market.
Where? Amazon.com, Ebay.com, magazines.com.
Look what they are trying to sell to these people.
Do they have passionate buyers?
How to validate? Via forum.
Usese the search code to find passionate buyers.
“Keyword + forum”
You can also search via facebook group.
Validation via PPC platform ( Cost-effectively).
For example. You have $79 ebook. Put it on ads and hopefully 1,000 people will rush and buy it.
But it costs you $10/click to reach your target market.
You should by now know that you will be out of business in no time if you continue the campaign.
Validation via Opt-In
If you can’t get enough people to opt-in to get your free report or software then it’s not a profitable business.
Next project!
3.PRODUCE
Do this only after you have been able to validate that you can reach the market cost-effectively, and get people to opt-in, then and only then do you proceed with producing/sourcing the product you want to sell. Otherwise it’s a waste of your time and money.
4.SELL
This is the step where you finally put up a sales page or video and actually TAKE ORDERS for your product.
Supposedly, selling should be done via email marketing.
Selling is easy after you earn their trust.
And sell only to those who “raised their hand” to your offer.
This is a ninja method and that’s a story for another day.
5.SCALE
This stage where you expand your lead generation, advertising, and start scaling up your sales as well as looking at how to increase your average revenue per customer; i.e. selling them other things.
Read More Here
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