The number of responses affects how meaningful the
information you collect will be. Your goal should be at least 50 to 100
replies. Data at this level yields more reliable information that you can act
upon... with confidence.
If 50 to 100 replies sounds like a lot, this may be a good
time to develop a trafficbuilding program.
But right now, you need answers...
METHOD 1) Be patient. Let your survey run until you get at
least 50 respondents. That’s the most important advice we can give you... be
patient.
METHOD 2) Send an e-mail to your affiliates or to your
existing client base. Offer them a sneak preview of your new product and a
15-25% discount if they’ll take the time to complete a survey.
METHOD 3) Make a post in a targeted newsgroup, forum or
mailing list. Once you’ve found your target audience, tell them about your
sneak preview. Ask them to complete the survey. As your thanks, you’ll give
them your product (especially affordable if it’s a digital product, but even if
it’s a hard good, your actual cost is not that great) -- seriously, make this
generous offer or you’ll be flamed for trying to sell to these groups.
METHOD 4) Same as METHOD 3, except write an article or place
an ad in a targeted e-zine.
METHOD 5) Buy your most important keywords at Google
AdWords. Most of the time, this won’t cost you more than $0.50 to $1.00 per
click-through. Put $100 into the account -- odds are you’ll have enough answers
before you spend the whole wad!
METHOD 6) Visit targeted chat rooms and ask for volunteers.
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Pricing Isn't All Logic. Discover The Hidden Pricing Tactics You Can Use To Increase Profits!
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METHOD 7) Ask suppliers, your best customers, distributors,
your own sales force, friends, etc. to respond “as if they were” average
customers. Recognize that this deviates from reality and that you may have to
adjust results slightly to compensate for the difference.
METHOD 8) Hire a professional researcher to do offline
research, then enter the data.
METHOD 9) Of course, if you’re on a budget, you can do
offline research yourself. There’s no limit to where and how to do this...
street canvas, in your office, at a store, etc.
METHOD 10) Get creative and learn from this experience. All
you have to do is get 50 people to answer six questions -- think of original
ways of accomplishing this simple task. If this proves to be impossible, you
may want to kill the project -- after all, how will you ever influence people
to buy your product if you can’t convince them to take the time to reply to
your survey?
Bottom line?
Even if you just phone 50 friends and associates and get the
data, you are way ahead of launching your product without this data. You need
to get a sense of your target market’s perceived value of your product before
you fix the final price. As Sam said…the customer must profit too. Data in. So
the next logical step is…data out.
Analyze your collected responses carefully. Display your
findings in a format that you find easy to understand and that quickly gives
you a good overview of your survey’s results. Most people find a spreadsheet works
well in this situation.
Try to pull out as much valuable information as you can from
the different responses. Look at them from different angles so that you can
pinpoint as closely as possible the perceived value of your product – what it’s
worth to your customers. With that golden nugget of information and your own
“profit” considerations, you can establish the perfect price.
The pricing process, when done properly, does
take time and effort. Remember that guiding principle… garbage in, garbage out.
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