Market Validation: DealsToDrink
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Transcript of Market Validation: DealsToDrink
COME & SEE
STARTUP
TESTSTesting business ideasin 24 hours
www.startuptests.comPhone: +61 466 273 919 | e-mail: [email protected] TESTS
plan of attack
Test Overview
Assumptions & Tests
The Results
What’s The Idea
What’s Next
Questions
End
www.startuptests.comPhone: +61 466 273 919 | e-mail: [email protected] TESTS
“A mobile app that lets you search and compare prices on beer and liquor
from your favourite local bottle shops.”
test overviewDealsToDrink
www.startuptests.comPhone: +61 466 273 919 | e-mail: [email protected] TESTS
DealsToDrink started out as ‘Alcodeals’ with a goal of solving a key consumer problem in Australia. What bottle shop sells the cheapest beer & liquor.
I set out on a mission to find out whether other customers we’re experiencing a similar problem. From an initial small research study I found out that it was a common problem among 70% of customers in Australia.
what’s the idea?
www.startuptests.comPhone: +61 466 273 919 | e-mail: [email protected] TESTS
Before writing a piece of code I wanted to validate two key assumptions:
1. People actually wanted a solution that does this.
2. They see value in it enough to share it with friends.
assumptions & tests
www.startuptests.comPhone: +61 466 273 919 | e-mail: [email protected] TESTS
Created landing page.
Offer was simple: enter your postcode & email, we’ll instantly send you all the beer specials from your local bottle shops.
Targeted search traffic from Google.
Keywords:
• beer specials, cheep beer
• beer prices, beer on special
assumptions & testsTest #1
www.startuptests.comPhone: +61 466 273 919 | e-mail: [email protected] TESTS
Testing the sharability factor.
Placed sharing buttons on the email that followed up the signup.
On each special we had a share by Facebook, Twitter and Email.
If they saw enough value in the special, we’d hope they’d tell their friends.
assumptions & testsTest #2
www.startuptests.comPhone: +61 466 273 919 | e-mail: [email protected] TESTS
the results
After running the campaign for a weekend we came up with the following results:
• 1453 impressions
• 249 visitors
• 56 conversions @ 22.49% conv. rate
• Only one user shared the deals (1.7%)
www.startuptests.comPhone: +61 466 273 919 | e-mail: [email protected] TESTS
The tests have given us a couple of key takeaways. We recognised there was definitely a demand for this service with 56 people giving us their email address and post codes.
Unfortunately, my second assumption failed miserably, with only 1.7% of the users sharing the content with friends.
It can be safe to safe that our ‘drink specials’ were not valuable enough for the users to share with friends. Moving forward I’ll need to make sure we add more value.
the results
www.startuptests.comPhone: +61 466 273 919 | e-mail: [email protected] TESTS
In conclusion, I’m definitely happy with the results of our first test. 1400+ customers searching for ‘beer special’ related keywords and 249 clicks with 22% conversion rate shows a genuine interest.
The next steps include creating a minimal viable product and testing uptake and usage levels from there.
My background includes css/html experience so I went ahead and created a simple jQuery Mobile site.
You can check out my next startup test for DealsToDrink by finding “DealsToDrink: Test #2 and the MVP”
what’s next
www.startuptests.comPhone: +61 466 273 919 | e-mail: [email protected] TESTS
What do you guys think?
Would there be anything that you would have done differently?
I would love to hear what you have to say, please leave your comments below.
Comments Below
questionsand answers
www.startuptests.comPhone: +61 466 273 919 | e-mail: [email protected] TESTS
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