A Clever Way To Research Your Market Before You Spend A Dime

I had an opportunity to interview Dr. Glenn Livingston today about how he researches his product ideas before bringing them to market. In one word ... it's genius.

Glenn creates a survey on the Internet and drives interested people there using Google Adwords and blog posts. Once they arrive, he tells them that he's in the process of creating the product and asks for their help.

Glenn encourages them to fill out a simple survey (which helps him understand their vocabulary and interest level) and offers them the product for free in return once it is completed.

After an appropriate length of time, Glenn is able to statistically determine if there are enough people interested in the product for it to be profitable. If there are, he creates the product or service with the help of the information provided on the questionnaire. Genius!

I love this idea because it is inexpensive, easy to implement and a huge time saver. If you want to learn more about the process, listen to my interview with Dr. Livingston and sign-up for his free program.

Attached Images

lab.jpg (25.1 KB, 82 views)