Product Testing: It’s Value Investing

From my expertise serving to 1000’s of ecommerce manufacturers over foundr’s historical past, one of the vital generally ignored areas is product testing.

Many founders are blissful to put money into creating ideas and advertising merchandise, however only a few spend even a fraction of that finances truly testing their product first.

“It’s not an advanced product” or “I didn’t assume there could be any points” are two widespread excuses I hear on a regular basis.

However consideration to element will separate your model from the competitors, guarantee buyer satisfaction will not be solely met however exceeded, and allow you to construct a model that has all of the groundwork laid for long-term success.

So, with that in thoughts, let’s dive into what product testing is, and why it’s value investing.

What Is Product Testing?

Product testing is the time period used for the method whereby you analyze a product idea in additional element, testing out options or performance to grasp how clients might use or work together with it.

You’d be amazed at how usually merchandise have been created prior to now for a desired goal, solely to shortly understand that customers don’t see it the identical method.

Now, that’s not a problem when you have got a few prototypes in your storage from the testing part, however 5,000 of them sitting there ineffective is a giant downside.

Don’t Skip: What Is MOQ (Minimal Order Amount)? 

Why Product Testing Is So Essential

Apart from stopping sleepless nights spent dreading monitoring notifications for a big cargo on its method of a product you now know is defunct, product testing additionally has a number of different advantages.

It helps you acquire insights early on.

Product testing is important for any entrepreneur to achieve worthwhile insights into what a buyer wants and needs (to not point out what they completely don’t need!), which lets you tweak services and products accordingly. Keep in mind, you would possibly assume you have got essentially the most modern, game-changing product ever. But when there’s no goal market for that product, then there’s no enterprise there.

Some entrepreneurs skip this side for worry of damaging suggestions, however I like to inform them to strive reframing their considering. If it isn’t an in-demand, viable product now, what’s going to alter earlier than you’ve spent 1000’s getting it into manufacturing? You’re higher off slicing your losses and both tweaking what you have already got or utilizing what you’ve saved to strive one thing else.

It improves merchandise.

Product testing

This side ought to go with out saying, however product testing improves merchandise, time and time once more. As an entrepreneur, you would possibly assume that your merchandise can’t be improved and that they’re 100% excellent as they’re, however likelihood is you might be too near the idea to see the larger image.

By testing your product and getting suggestions out of your target market, it’s possible you’ll discover one thing you didn’t even take into account.

On the very least, you’ll acquire affirmation that your product is 100% excellent and that you’re a genius, so what’s the hurt in checking?

You’ll save a ton of money and time.

Without product testing

At first look, you would possibly assume that product testing will truly value you extra money and time, given that you’re paying for one-off deliveries and spending time including new steps to your manufacturing course of.

However in the long term, this strategy will prevent a ton of effort and time.

5-time ecom founder Gretta van Riel herself fell into this very lure within the early days of SkinnyMe Tea, which she dives into as a part of the Begin & Scale course.

“With SkinnyMe Tea, we as soon as had a horrible expertise the place we positioned a big order with our producer in China,” admitted Gretta. “I used to be considering I used to be fairly good by ordering an enormous amount of tea directly for the reason that expiration dates are good for some time on tea, and we may decrease our transport prices by getting it completed in a single large order. So, I ordered $1M of tea from a Chinese language producer. By the point we opened the cargo in Australia, it wasn’t even the kind of tea we needed and was completely and completely unusable. For sure, we needed to throw out your entire batch instantly. It was even a further $14,000 simply to throw the tea out!”

500 winning product ideas button

The Completely different Kinds of Product Testing

Whereas the idea of product testing might sound fairly easy, there are literally a number of alternative ways that you would be able to go about it:

A/B testing: This type of product testing happens by growing two variations or a product with one differing function and asking your target market which one they like. With A/B testing, it’s vital to maintain the variations to a minimal with the intention to clearly set up what your viewers does and doesn’t like.

Idea testing: The method of exploring the feasibility of a possible product concept of idea and the way it may carry out within the market. This idea tends to contain reaching out to your target market earlier than any manufacturing takes place. It is a nice choice for any established model with a loyal buyer base to name upon for suggestions.

Market testing: Market testing is one step farther from idea testing, the place you truly ship your new product to some clients to get their direct suggestions and ideas. It is a nice technique to establish eventualities you didn’t take into account, comparable to transport points, earlier than investing closely in a big inventory of the product.

QA testing: High quality assurance or QA testing happens if you take a look at the performance and options of your product earlier than releasing it publicly. That is the stage the place you’ll run your product via totally different potential shopper eventualities to check if there are any obtrusive points that must be amended, comparable to defective zippers on tops, difficult opening mechanisms on containers or bottles, and so forth. Luckily, most competent producers have QA testing constructed into their manufacturing course of.

Consumer testing: The ultimate stage of testing is person testing, whereby you launch your product to the general public and thoroughly observe how clients work together with it. This info is probably not actionable on your first product batch, however it may be used for future deliveries.

Ideas for a Profitable Product Testing Course of

After I’m advising aspiring founders on their product testing course of, there are three key rules that I inform them to stay to.

  • Go into it with an open thoughts: When product testing an idea you might be very assured in, it may be straightforward to make assumptions about how clients will react to it, which might cloud your judgment. Attempt to enter testing with no assumptions, as it will assist you to consider the suggestions objectively and make one of the best choices.
  • Use quite a lot of testing strategies: This ensures you might be product testing all through each part of growth, persevering with to tweak your product till it’s excellent on your market.
  • Proceed testing: Even after a product has launched with some success, it is necessary that testing is on the forefront of your thoughts. In any case, profitable merchandise have the potential to be much more profitable, and adaptableness is essential for ever-changing markets.

Maintain Studying: Learn how to Value a Product – The Definitive Reply

Take a look at, Make investments, and be the Finest

Now that you’ve all of the perception you want into the significance of product testing, it’s time to place it into apply and take your merchandise to the subsequent stage.

To raise the remainder of your ecommerce model alongside your merchandise, obtain our FREE 500 product concepts information.

Discover your successful product concept, even if you happen to really feel like all of the “good concepts” are already taken, and set your model other than even essentially the most aggressive marketplaces.

Jumpstart your ecom business 500 product ideas

Leave a Reply

Your email address will not be published. Required fields are marked *