Good ideas can raise your business to greater heights. Whether it’s a brand name, logo, packaging, new product or service, promotional design or marketing campaign, concepts help your venture grow and thrive. But how do you know if your brainchild is indeed a good one? Some may seem brilliant but they don’t necessarily translate to sales or profit.
Concept testing allows you to calculate the probability for success or profitability of your idea. You may conduct a survey, focused group discussion, interviews, product sampling, test runs or soft launch to gauge how your target market will receive your idea. Some companies acquire the services of an agency to do market research while others do it in-house. Whatever method you think is best for your idea to be tested, know first why it is important that you do it before you fully launch your idea.
To avoid wasting time and resources
Trying to perfect your idea on the drawing board will often cost you time instead of going out and testing it to your market. You launch your idea to the market without knowing how they’ll respond to it may sometimes lead to failure. Remember that the process of turning abstract into something concrete involve investment, effort and time, which may go to waste if the project does not succeed. Testing your idea on your target market will give you a piece of the bigger picture that you may not be able to view if you only stay within the confines of your workspace.
To know the pulse of your market
You come up with new concepts, may it be a product or a marketing strategy, to satisfy your customers. While you may be contented with what you have come up with, people may have a different view of it, and it will show with how they will receive the fruit of your idea. You cannot know what’s in their mind unless you test it on them and see their reception to the novel thing that you want to introduce. It will also give you insights that you may find useful in your other initiatives or endeavours.
To estimate the potential of the idea
You, your team and closest friends may find your new idea remarkable, but you can only estimate its potential, especially the profit or benefits it may generate unless you go out and ask your existing or prospective buyers if it’s something that they deem favourable to them. You can then gauge the extent of effort and resources you can invest in such a project once you can approximate the degree of returns it can give you.
To improve it further
There are times when time is crucial and one does not have the luxury to perfect an idea. Concept testing acts like a filter that highlights areas you can still work on while providing you with answers that you will not be able to generate if you spend so much time on the drawing board. As you gather feedback from your target market, testing your concept can even give birth to tons of new ideas and help you improve your initial concept to become a better one.
To bring you closer to your goal
The goal could be increasing sales, expanding your business or leaving a legacy to your clientele. Whatever it is, concept testing will help you determine if your idea will lead you in the right direction. It will help you plan the next steps that will bring you closer to your goal.
So, next time you have a brainstorming session in your business, don’t miss out testing your concept on your market in the whole process. Choose the best method or methods to do it that will help you evaluate better your concept.