Market Validation Hacks

•1 Key Stat about Death•Survey Says…

•Market Definition

Thesis“Validate your idea and prove

product/market fit online because it’s fast and easy.”

Key Points CoveredWho I am and why I’m qualified to teach Customer Profile & Online TargetingValidating Ideas through MessagingIterate with Google Consumer SurveysOffer Structure & Landing PagesLive Test Conversion with AdWordsMeasure KPI’s with Analytics

Who is AaronAuthor, Speaker, Owner, Father

•Started as a mortgage telemarketer, 2006.

•Direct Response agency executive•3 other startups, one sold•Went full time with my startup in 2012•Philosophy: Knowledge is power.•Motivation:

–Making ideas reality.–Paying for college!

What is SearcherMagnet

•Direct Response NOT “Branding”•A Lean Approach to Marketing

PART 1: Idea Validation1.Definition of A Persona2.Buyer Persona Example3.Use of Persona4.Developing a Profile5.The Lean Startup Method6.Leveraging Early

Adopters7.Culture Summit Example8.Crucial Conversations

Definition of PersonaQ. What is a customer persona? A. “fictional, generalized representations of your ideal customers”

The SearcherMagnet Buyer

•Business Owner, $500K-$10M Rev, financial services, B2B or ecommerce

•Believes customer uses internet•Demographics: 25-55 years old, single

male

Use a Persona To...•Develop marketing strategies

such as product packaging, advertisements, business location

and pricing

Profile Development•Use an online demographic tool like Quantcast to research audience data on websites

Profile Development•Other demographic tools include alexa.com and the Google Display Planner

•Form hypothesis about your customer and their online habits

Lean Startup Method•Build, Measure, Learn •Guy Kawasaki

Leveraging Early Adopters

•Have pain•Willing to try anything•Often are trying to solve themselves

Culture Summit Example

•Vision & Hypothesis•Spoke to 10 Founders in Person•What are your top 3 challenges? How are you solving? Would you Buy? Why or Not?

Crucial Conversation•Hypothesis was Wrong. Founders Too Busy

•New Decisionmaker - HR, Operations•Linkedin Inmail - 25% Conversion rate!•Asked, “Where can I find people like you?”

•Found a secret message board.

PART 2: Product/Market Fit1.Google Consumer

Surveys2.Actual Example3.Offer Structure

4. Landing Page Tools5. AdWords Strategy6. AdWords Execution7. Analytics KPI’s8. Measuring Success

Google Consumer Surveys

•Do after getting into the field•Or if you lack access to decisionmaker•As low as .10c per response with a $75 credit to sign up

•Don’t assume you know what your customer wants!

Actual Example- AFKW•Targeted job titles of Owner, Entrepreneur

•Screened for “Belief in Internet”•Definitive answer on tagline and message

Offer Structure•Common Types:

–Email (Weak)–Lead or Survey (Good)–Free Trial or Download (Good)–Purchase (Best)

Landing Page Tips & Tools

•A “House” For your offer•Tipping point of pre-sale info different for every industry.

•Why not to use wordpress / Website Tonite

•Sales Copy #1 Important thing

Lean AdWords Strategy

•Why AdWords for this task•Not ideal for B2B (limited volume)•Budget, it’s easy to spend a lot of $$$•Bids, it’s easy to overspend per click•Watch out for low CTR

Lean AdWords Execution

•Pain Point based Keywords •Ad Copywriting- "Simplicity is the ultimate sophistication." – Leonardo Da Vinci

•Ignore bells and whistles like Retargeting, In-App ads, Youtube, Display Network, Shopping Feeds etc

•#1 Mistake: No conversion tracking on your Landing Page.

Analytics KPI’s•Bounce Rate & Time on Site - is traffic “sticky”

•Conversion rate - over time and vs. organic, social etc channels

•Conversion assists & lags - what influences purchase and how long is buying cycle.

Q&A

Who is your Decision-maker?How will you reach them?

How do you validate your offer?And with what tools?

Special Offer Today Only

1.Pre-order A Few Key Words for

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