Systematic Evaluation of Market Testing

There are 3 key stages to the market testing process that can be evaluated objectively and acted upon accordingly:

#1 Market Research

1. Perform a competitive analysis and a market-positioning map to determine all market opportunities.
   
   
2. Design your marketing messaging around the closest positioning to your product's current functionality, appearance, and branding.

#2 Market Test

1. Get a photoshoot of the product, generate 3D renders and mockups, or integrate a photo mode into the game for marketing asset creation.
   
   
2. Start with a Kickstarter Follower ad campaign. Test your ad creatives here and check the overlap between your target audience and Kickstarter users.
   
   
3. 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.
   
   If the cost-per-VIP decreases below $30, consider raising the price for VIP Access from anywhere between 1% to 5% the MSRP retail price, rounded up to the nearest $5.

EXAMPLE of different ad campaign and funnel types for Kickstarter, laid out in a logical sequence for efficient market testing:

#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:

1. Try an alternate product positioning as detailed in Step #1.
   Revise page and ads accordingly.
   
   
2. 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:

1. 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).
   
   Continue testing ideas to drive down the cost per lead: for Kickstarter Followers, get the cost per follower under $2; for VIPs, get the cost per VIP under $15.
   
   
2. Scale up to a full ad-campaign daily spend when even the worst case financial projections are favorable using the financial projection calculator:
1. Increase daily ad-spend by 20% to 40% every 48 hours
2. If using VIP System, create an “Advantage+ Sales” Campaign on Facebook Ads
3. If budget available, create a “Follow On Kickstarter” Lead Campaign on Facebook Ads
   
   
3. 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.

EXAMPLE VIP Reservation Funnel for Kickstarter, with average market testing benchmarks list for each part of the user journey: