Executive Business Coach Chuck Boyce’s Blog: Try Before They Buy – Why Test Marketing Matters

Launching a new product or service can be a crapshoot in today’s volatile business environment.  Even if the market appears to be crying out for exactly what you plan to sell, that alone is still not a guarantee that your target customers will buy it.  So what can you do to give your launch – and your business — the greatest chance of success?  The key is test marketing.

Big companies have been test marketing their products for decades.  Fast food chains debut a new food item in a handful of small markets before introducing the unknown commodity nationwide.   Grocery manufacturers use online surveys to determine whether or not their target buyers might be interested in a new product.   Prototypes of new products are debuted at trade shows and shown to buyers for feedback before they ever enter production.

As a small business owner, you might not have the resources to put behind this kind of product testing.  But there are still ways to get an idea of the appeal of your product or service – and make any tweaks or changes that might improve its chances of selling – before putting the time and effort into a full-scale launch.

One good way to test a new product or service is to allow a select group of trusted clients to try it free of charge in exchange for their feedback.  Why?  Your clients are already accustomed to buying similar products or services from you and are likely potential buyers for whatever new products or services you create.  Unlike friends or family members, who might be more inclined to “be nice” and praise whatever you show them, clients will probably be honest about whether or not they would be willing to buy something, and even how much they would pay.

Will you be taking a risk in showing your clients a product or service that might not be ready?  Possibly.  But by making them a part of the development process, you’re also letting them know that you value their ideas and input.  This won’t just help you come up with the best products possible – it will also help you develop the kind of meaningful relationships with clients that will assure your future success.

“Independent Executive” Chuck Boyce is an experienced small business coach who can help you get the most out of your business.  For more information on how you achieve your business goals, go to www.breakingfreeblog.com.

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