Test Marketing

customer serviceBefore you introduce your venture to the world at large, perform test marketing in limited segments.  While the mantra, “Think Global, Act Local” is usually associated with environmental causes, its equally applicable for start-up ventures. The principle is simple: if you can’t sell your product or service to someone down the street, why would someone halfway around the world be interested?

Based upon the “Think Global, Act Local” ideology, its important to test out new products and services with a few key customers. Following this limited test marketing, work with the target participants to see what worked for them and what should be changed. At the same time, have an understanding as to how the product will work in a real world environment. Does your limited test market represent the market in general or a specific niche where the product can excel? If the product/service has only found success in a specific niche, it may be necessary to adjust launch plans and focus on a select group.

Thumbs UpTry This: Set up a series of test markets to do a soft launch of your product. See how your offering varies across these different markets. Use this information to see if certain markets should be avoided as you gear up for a full-scale launch.

 

 

Thumbs DownAvoid This: Don’t kill yourself with test marketing. While pre-launch information is good, at some point you’ll have to take the next step and commit to a full-scale launch.

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