How to Release New Products
You build a new product.
- You'll think the world will love it.
- You release it.
- People hate it.
Your company's reputation suffers. You cry.
What to Do Instead
Instead of releasing your product to the masses, test it on a sample population. That sample population will give you an idea if the masses will like your new innovative offering.
Who does that type of testing?
- Movies do it with sneak premieres.
- Big companies do it with product tests.
- Fast-food joints do it with specials at several locations.
- Web application shops do it with beta tests.
It's simple inferential statistics: you take a small sample to represent the larger sample. (That's how Nielsen predicts TV ratings.)
If the the sample population likes the stuff, what would that mean?
That'd mean the population at large would probably enjoy it as well! Hooray! And if you don't get great responses, you'll have sweet insights to tinker your product.
You'll Get Great Feedback
Since that small test population mirrors the population at large, you'll get insightful feedback on how to improve your product for the masses. For instance, you'll get answers to:
- How can we improve our product?
- What do you think about the selling price?
- What did/didn't you like about the product?
- Would you recommend this product to a friend?
Getting answers from your sample population helps you produce sumthin'-sumthin' to attract the masses more effectively. HIGH-FIVE!
How big should your sample size be?
Use this handy calculator. Make sure your test population mirrors the demographic market you want to target. That will help you infer if your product would really be a success toward your intended client base.
First, sample up.
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Posted on March 19