Methods > Gather Insights > Market Validation Exercise

Market Validation Exercise

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Purpose

  • Learn and/or validate your market hypothesis by testing demand early.

Outcome

  • Build products that have market demand by pivoting or adapting learnings into development of the product.

Time

2 days

Participants

1 - 2 people

Difficulty

Medium
Tip: it will help to reach out to an expert for guidance on these methods.

Materials

Computer and internet access

Detailed Steps

Early problem validations can be done in multiple methods, we’re going to talk about the false door method, but it is by no means the only one, contextual inquiry, interviews and other exploratory research features are also great here. .

1. Create a one page (email, website, document) that describes your future product, it should contain a value proposition to the user as well as the main benefits you are expecting to deliver with the product. You want to make it look as much as possible like a finished project.

2. Include a “sign-up for more information email” CTA or “buy here”.
Ensure this page or request goes out to as many people in your target audience group as possible – using things like emails, Facebook ads or survey sites.

3. Collect responses and follow up with those interested to move onto Problem Validation. For follow up interviews with aim to understand more about: what did people who signed up actually think the product did? What were they expecting? Does it align with your idea? Who do they think it is for? Can the user understand how they would use it in their life? See more in our problem validation section.