#03 Minimum Viable Product – Marketing On The Move

FEATURED DOWNLOAD: Read and download the full transcription of Episode 03. Learn today how to effectively market your product. (Click Here to Download Transcription)

Transcript

[00:17] Hey guys Stephen Esketzis here and I am ready to get into it.

I’m just waiting for my sister actually, picking her up from school I think she’s on her last week.

[00:26] So if you guys have ever experienced your last week of high school she’s going through that right now. Do refuse stupid things, dressing up indifferent schools and mucking around those kinds of things. We call it muck-up day or muck-up week her in Australia.

If you’re listening from other states but that’s what’s going on.

[00:43] What I wanted to talk to you guys today about is testing, selling and making sure that you’ve got a minimum viable product.

[00:53] So what I actually been doing is I’ve found a software that I’m actually creating and I’ve sort to come up with this after a while and thinking about it for a while. I’m not ready t tell you guys what it is just yet. But I’ll give you a few hints just so you know.

[01:09] What I’m gonna be doing is actually, before I tell you what it’s all about is I’m going to be creating a landing page and creating a preorder page. So if you guys know the founder of drop box, sorry not the founder of drop box.

The founder of buffalo, I can’t remember his name off by heart but I heard of him in a podcast from entrepreneur on file. And what he did was he set up a landing page where customers could come to the page and preorder the software.

He hadn’t built any of the software, he hadn’t built anything. He wanted to really make sure that laid would come in to people who would actually take money out of their pocket and pay for the software.

[01:44] So really a smart idea.  He did really a very lean start up. If you haven’t read that book by the way the Lean Startup by Eric Ries, tough book and definitely get an audio if you’re not gonna read it.

But have a listen to it because it’s really valuable and taught me a lot and did really given me a few great pointers in my business.

[02:04] But that’s the topic on hand, what I was saying was yes the founder of buffalo use this little technique to put together the landing page, sent some traffic to it. And he made sure that going to the people page was target market and he put a preorder page to see that if people are willing to take money out of their pocket and invest in what is got.

[02:24] I think before everything was created, I can’t remember I don’t think he told them that it was created yet. So I think he actually didn’t say it was a preorder, I’m pretty sure he said he was fixing something up.

[02:37] But he ask for the payment upfront, so he had money in his PayPal account the software wasn’t even created and the money did he realize that people was still interested on this. So after a while he put together the software in two weeks in record time.

And he put it together in two weeks record time using the money that all these people have made the preorders by. And the obviously there were issues but what he did was he just really dogged into it made the sales and then put together the product.

And I thought that was a fantastic way to do it.

[03:07] I know he jointly do this from some entrepreneurs on file that has done the same thing. He sold over I think $20,000; don’t quote me on that numbers but it was a substantial amount of money on a webinar before even having the product ready.

[03:20] So they’ll able to place all your products before you even put money into developing software; developing the website is absolutely a fantastic idea.

[03:28] Now in my opinion the bill and end bill of your product if people don’t purchase but if they do or they do opt in, you know that people have really big interest in your product and it’s worth the ceiling.

[03:40] Otherwise if you don’t get any, or if you’re converting super low one in ten people are opting in and if you have met any sales then you know that this product probably isn’t worth the ceiling was spending more money on then you can just drop it. And you’ve only test it in about a hundred to two hundred dollar and that’s exactly what I’m doing.

FEATURED DOWNLOAD: Read and download the full transcription of Episode 03. Learn today how to effectively market your product. (Click Here to Download Transcription)

[03:55] So with this software before I get into my big development cost what I’m gonna be doing is I am gonna be putting up a landing page tonight. And sending about a hundred dollars with facebook ads to this page. I’ll just put up a preorder sales page there.

[04:10] So the cost for this is about $7, very end low product. It’s really gonna be for the dj market as well, I’m sticking to my niche.

But it’s going to be a very low end product something that these audiences will be able to choose whether they wanna join or not. You preorder and it will probably be a small monthly fee, but if I preorder with this it will be a $7 upfront or something super low.

[04:36] Haven’t really decided on that yet, I just want to give you guys the insight that if you want to test the app something and I know that I’ve already made this issue before I’m sure a lot of entrepreneurs have the best way to test it out is setting up a landing page and go from there because you don’t want to be putting money, you don’t want to be putting time, putting into product or project that you’re not sure that’s gonna turn out right.

Especially after so many people spent thousands of dollars on products and on systems and on new companies that they think they’re gonna succeed with turnaround or flop or turnaround have no interest or  turnaround would be much more expensive than they originally planned.

[05:12] So it’s definitely not the right way to go about it. But definitely with this minimum viable product I’m gonna be actually putting a blog press up of it pretty soon. I have this some great tool which aid the testing out if your company will succeed before it’s actually gets built.

And I think there’s one real good one guys I’ve mentioned he has quick funnels this is Russell Brown has launched it about two weeks ago now from the time he’s recording his podcast and it’s phenomenal. I cannot speak more highly of it. There are few bugs in their but they supported it after two weeks the support is phenomenal as well.

I sent them multiple issues and they come back to me after a couple of weeks. So I can’t speak more highly of them than that.

[05:54]  Then there’s also lead pages as well which a lot of guys are familiar with. Lead pages is another great way source for opt in pages.

They’re a lot bigger as well; they’ve got vc funding and have come a long way they’ve been around for at least 2 years I think now. They’re going pretty quickly too, they have introduced a market place where people can submit their own template.

So there’s got a lot happening with those two companies, love them both.

[06:20] I’ll be probably using quick funnels because they actually have sales pages they integrate with a merchant account. So it will be interesting guys. I’m really interested to see what the results would be.

I’ll probably gonna let you know on the next part podcast or so. But I’m gonna putting that up tonight. Sending about hundred dollars worth of ads from where I work out.

Get me about four hundred visitors, something around that. It should give me rough idea looking if I can pay back from my ads in these preorders I’ll be pretty happy as well. But it will be even better if will just be seeing if people are interested and putting something together as a quick preorder page using the template.

[07:01] So I’ll leave you guys now, will comes out how I will get the results because I know that you guys will be interested. I’ll probably split test with few different headlines.

[07:10] Actually before I let you go, one thing that I did do is I contacted one of my copy writers I paid him about I think $50 just to give me ten different headlines for this software so I can make them nice and clear on the lead pages on the landing pages. And then I’ll split test those ten headlines and say which one is convert the best for my hundred dollars worth of ads I’ll be sending to this sales page.

Just so I know that the whole thing didn’t flop just because of the shocking headline that I write but I’ll get about ten different headlines written and compare them and just see what the sales and see what visitors think and if there’s any comment or they’ve actually taken money out of their credit card and paid for an account before it’s being developed and will go from then.

[07:53] Okay guys I’ll speak to you soon. Catch you later.

 

FEATURED DOWNLOAD: Read and download the full transcription of Episode 03. Learn today how to effectively market your product. (Click Here to Download Transcription)

 

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