Even billion dollar startup ideas like Airbnb needed to be tested. Why? Well, startup ideas are simply assumptions. If you spend all of your money and months of time developing a startup only to find out that your assumption was wrong you're in a very bad place.
The Launch Lab smoke test toolkit contains everything you need to get the validation signals you need to decide whether the market wants what you are planning to build.
The toolkit helps you get your test up in 48 hours so that you can start testing your assumption almost immediately.
Here's what you get in the Smoke Test Toolkit:
This is more than a landing page or a 'coming soon' page. You get a micro website that looks like a real site. We want the user to think the product actually exists. We want to find out how many people will click the 'buy now' or 'get started' button. The micro website includes a home page, a pricing page and a lead capture page.
You get analytics showing the number of visits to your site, the number of people who clicked the call-to-action button and the number of people who registered their interest. These funnels start to paint a picture of buyer intent. Knowing conversion rates at this early stage will give you a good indication of how interested people are in purchasing what you paln to sell.
Analytics paint a great picture but you also get 100 video playbacks of users using your website. These are actual videos of users using your website. It's like watching over their shoulders while they use your website. The videos will help you understand what features people are most interested in and where non-converters drop off.
Launch Lab develops web applications and mobile apps for non-technical startup founders. We also offer startup consulting and advice on how to set up your smoke test website and what to focus on. The toolkit includes 1 hour of consulting time to guide you from your initial assumption to taking the first steps in your startup journey.
Like any website, a smoke test needs traffic. You'll need to spend time trying to generate traffic from free sources, but we'll also help you decide which paid channel to use and we'll set the campaign up for you. We usually use Google Adwords or Facebook Ads to drive traffic. We recommend you budget an additional $200 - $300 to spend on the advertising costs. The setup of an advert is included in the $1,997
We'll host the microsite for up to 12 months for you if needs be, but ideally your smoke test should be run as quickly as possible to help you determine if your assumptions are correct or not. We use Amazon Web Services (AWS) and with the microsite being static we host out of S3 buckets. The only thing you will need is a domain name.
A startup smoke test helps you to test a product idea before you build it. By driving traffic to a website, and making the user think that the product actually exists, the smoke test is designed to determine conversion rates and buyer intent.
Imagine you want to build a startup that generates exercise programs for people based on their DNA. Your assumption is that fitness fanatics will jump at the opportunity to get a more scientific exercise program. But, will they pay the high price associated with the DNA test and the resulting exercise program?
Our smoke test will help us get better insights. We create the microsite in a way that it looks like the product is real. The website displays a price and a 'buy now' button. When clicking the 'buy now' button users are shown a message informing them that you are not quite ready to accept orders but if they leave their email address you'll let them know when they can purchase the product. You might also want to offer them a discount for leaving their email address.
We can target a specific market and drive traffic to the website. Our funnel analytics will show the number of visits to the site, the number of people who clicked 'buy' and the number of people who left their email address. Conversion rates will go a long way to determining if the market wants this product.
Plus, you can start to determine the cost to acquire a user. For example, lets say you spent $200 on Facebook adverts and you get 200 clicks to the website from this campaign. 10 people clicked 'buy now'. If these people followed through with their purchase and assuming your profit margin on each sale is $40 then things are looking good.
You are now getting signals to prove your initial assumptions.