27 Across | Encouraging Entrepreneurs

The ultimate customer research is a market trial.  All other market research is designed to forecast what the customer will do when given the option to purchase WHAT you’ve got to sell.  The expectation is that it is less expensive to ask questions then go to market with something that is not quite right.  Depending on the size of your business and the amount of investment required to get your product or service to market, it might be cheaper to just make the offering available.

PLEASE NOTE:  The market trial is not the place to see if your service actually works.  There’s a difference.  Imagine you’re selling a carpet cleaning service which requires a hand operated cleaning machine.  Before going to market it is imperative that the equipment be tested AND that the process of carpet cleaning be understood AND the lotions and potions be used so quantities and reactions are understood.  Doing all of that testing at a customer location is not a market trial… that would be a recipe for failure.  Truth be told, if the equipment and the process and the lotions and potions are being tested, then either put your own carpet at risk, buy a cheap remnant or used carpet and practice, or pay someone for the privilege of putting their carpet at risk.

On the other hand, if you’re selling a carpet cleaning truck, it might be a good idea to do some research first.  Creating a truck for a single purpose is expensive and time consuming.

And yes, it is all about the money.  Spending $5,000 on research doesn’t make any sense if the entire investment in the business opportunity is $500.

In a market trial the customer gets to vote with its dollars.  If the market adopts and then keeps the service, then the market is pleased.   If the market does not adopt or does not keep the service, then the market is not pleased.  No hypothetical service, no hypothetical market.  The real thing.