Validation: A Requisite for Product Development
VALIDATION OF PRODUCTS BEFORE DEVELOPMENT: HOW TO VALIDATE BEFORE DEVELOPMENT:
Product validation allows you to be absolutely assured that what you’re producing will find a market. This might help you stay focused on the steps that will get you to market faster while also strengthening your dedication to your company.
You’re effectively pouring resources into a lottery and hope you strike the jackpot if you don’t have true product validation.
Why is product validation important?
A crucial initial stage in the development of every new product or business is product validation. The entrepreneur, the firm, the team, and the consumers all profit from it.
Benefits of becoming an entrepreneur – Invest in something that is almost certain to provide a profit.
The Benefits to the team/company — Gain a better understanding of the strategic product vision, gain more buy-in from decision-makers, and reduce misunderstanding, conflicts, and wasteful pivoting.
A Benefits to customers include feeling understood by the firm and having their demands satisfied.
Few businesses and entrepreneurs can succeed without first confirming their product.
To guarantee that they are not constructing what only one person believes is a good concept, businesses all around the world use highly specific techniques.
What Are the Benefits of Validating Your Product?
You’re compelled to make a lot of assumptions while developing new items. You’ll wind up with a product that no one wants to use or buy if too many of those assumptions are incorrect. Numerous unsuccessful products were created based on what their inventors thought intriguing, rather than a solution to a real need. Product Validation Testing ensures that a product is fit for its intended purpose and satisfies the requirements of its users. Validation testing with the initial production product and in the actual (or simulated) usage environment should follow successful verification.
The best way to protect oneself is to recognize false assumptions early on. You can pivot to offer the product a better chance if you discover your incorrect assumptions early enough. In the worst-case scenario, you may just discontinue the product, saving both time and money. Validation refers to the process of putting certain assumptions to the test. It forces you to show the product to real consumers in order to improve it.
What is the Best Way to Validate a Software Product?
Remember that validating a product entails evaluating whether or not there is a problem that needs to be solved, whether or not there is a market large enough to sustain the product, and whether or not the solution really solves the problem. Before you begin development, you should address all three assumptions.
There are several validation procedures that can assist you in understanding those assumptions, but only four are effective:
Step 1: Discuss your concept openly:
One of the most common errors made by product designers is keeping their concepts to themselves. Being private prevents you from receiving useful criticism and blinds you to early hurdles that others can spot.
Let’s imagine you have a concept for a social networking application. The first stage in the validation process is to talk with someone who is familiar with the area. Someone who works in social media technology, a social media marketing agency, or the owner of a comparable SaaS might be this person. One of these persons may be able to explain some of the difficulties you may encounter.
Spread the word about your concept to as many people as possible. Pose questions to them. Don’t reject someone who tells you the concept is ridiculous. Instead, try to figure out why. Use their suggestions to improve your concept. The more you share it, the more valuable it becomes.
Step 2: Look for and investigate similar products:
Many people believe that having no competition is ideal, however, this is not the case. Existing solutions that solve the same problem as your concept indicate that someone has previously put in the effort to test your four major assumptions.
Furthermore, comparing similar items allows you to see what they’re doing well and where they may improve. If you’re building a CRM SaaS, for example, you may look through customer complaints about your competitors’ solutions to see where you can gain an advantage.
If you can’t locate any items that are comparable to yours (that solve the same problem), it’s possible that there isn’t a market for them.
Step 3: Create a landing page and sign up for a waiting list:
The next stage is to test those assumptions by talking to real people. You’re probably thinking, “Uh, my product doesn’t exist yet.” “How can I persuade people to utilize my product?”
It works like this: you create a landing page (or an entire website, depending on your resources) dedicated to your product, complete with a “sign up” button. When they press the button, you inform them that the product is currently in closed beta, but you will gladly add them to the waiting list.
For example, before their product was launch, the trading app Robinhood designed a basic landing page for it. Email subscribers were utilized to gauge interest and establish an audience that was ready to go on launch day.
Use email content to reach out to these folks. Request that they respond to your queries. If you have the opportunity, schedule an interview with them. They’ll be able to tell you whether your forthcoming product is going to be good, and they’ll be able to lead you through the development process. “What I’d really like to be able to do is…” or “I wish I could locate a product that…” are examples of what they’ll say. That’s priceless!
Will people really go to such lengths for a product that doesn’t exist? Yes, if the situation is excruciatingly unpleasant for them. If people believe you’re working on a solution for them, they’ll contribute all kinds of free comments, suggestions, and support. (This is how the entire crowdfunding sector works.)
Step 4: Sell the product in advance:
Although the previous three processes we described are vital, genuine validation comes from customers willing to pay for your concept.
Consider pre-selling the product if you don’t think a waitlist is an adequate validation as well as Selling a non-existent product is obviously more difficult than gathering email addresses though the feedback is more useful. If a consumer is prepare to spend money for a product that isn’t currently available, it’s a fairly solid indication that you have a product that solves a need and a market for it.
When you use a landing page or a website to pre-sell your goods, make it appear to potential purchasers that the product isn’t yet available. You can wind up with a lot of them.
You may also validate your items by contacting a particular person and Rheomold that will benefit the most from your future offering. Describe how you recognize their issue and how your product will solve it.
People want something in return for their desire to pre-purchase your goods, so keep that in mind. Offer lower prices, priority customer service, extra features, or anything else that the potential consumer finds appealing.