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There are 3 key stages to the market testing process that can be evaluated objectively and acted upon accordingly:
#1 Market Research
- Perform a competitive analysis and a market-positioning map to determine all market opportunities.
- Design your marketing messaging around the closest positioning to your product's current functionality, appearance, and branding.
#2 Market Test
- Get a photoshoot of the product, generate 3D renders and mockups, or integrate a photo mode into the game for marketing asset creation.
- Start with a Kickstarter Follower ad campaign. Test your ad creatives here and check the overlap between your target audience and Kickstarter users.
- Then, do a first landing page test. Make a post-signup offer to participate in a survey for desired features, reward ideas, stretch goal ideas, and ask what they expect to pay for your product.
During the second landing page test, formulate a VIP Discount or Exclusive VIP Add-on based upon the survey results, and further validate the price by taking dollar reservations or $1 deposits. Start with the highest price, and begin lowering it to find the sweet spot that balances the cost-per-VIP versus profitable financial projections..
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EXAMPLE of different ad campaign and funnel types for Kickstarter, laid out in a logical sequence for efficient market testing:
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#3 Performance Evaluation
If Market Test described in step #2 has failed to reach an average of under $3 cost per follower OR under $30 cost per VIP:
- Try an alternate product positioning as detailed in Step #1.
Revise page and ads accordingly.
- Go back to #2 with another market-test ad campaign.
If Market Test described in step #2 has successfully reached an average of under $3 cost per follower OR under $30 cost per VIP:
- Compare the expected price and desired features, rewards, and goals in the survey responses with your current webpage’s presentation.
Is the top requested stretch goal likely a key feature? If yes, get it drafted or mocked up, and integrate it into the marketing messaging (addition of new landing page section).
- Scale up to a full ad-campaign:
- Increase daily ad-spend by 20% to 40% every 48 hours
- If using VIP System, create an “Advantage+ Sales” Campaign on Facebook Ads
- If budget available, create a “Follow On Kickstarter” Lead Campaign on Facebook Ads
- Draft the video trailer and Kickstarter Page design, and give sneak peeks to the press and your community. Test the trailer using Facebook ads via In-App Signup Form ads or a video trailer landing page.
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EXAMPLEÂ VIP Reservation Funnel for Kickstarter, with average market testing benchmarks list for each part of the user journey:
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