When someone mentions product testing, you likely envision weeks upon weeks of split testing every little thing about your product, product listing, product packaging, copy, and marketing. All the while, you will lose money on the less popular product listing.
If you plan to exit in the next six months or even two years, you may not want to tackle the considerable job of split testing every aspect of your product. Instead, you’ll likely want to focus on bringing in the most income you can to prove to potential buyers that your brand is the one to purchase.
In a recent interview, Paul and Kellianne tackled the issue of brand testing and optimization with PickFu co-founder Justin Chen. PickFu is a platform that provides Amazon brand owners with access to their target market through direct customer feedback, surveys, polls, and more. This allows sellers to get on the same playing field as the larger players like Thrasio to optimize branding and ensure customers find your business.
There are many different kinds of tests that a brand owner can perform. Split tests or A/B testing is an experiment in which one compares two or more variables against one another to see which is most effective. In marketing, this is usually done by creating two ads with differences in each and then making them live to see which provides more sales.
This simple process takes time, and the tests need to be performed repeatedly to test out several variables. All the while, your product is losing money by not being pre-tested before going live.
PickFu offers a platform to connect brand owners to audiences and allow them to test one thing at a time without losing money on a live product. They can test every stage of the product development process by asking their target market about:
- Product ideation
- Branding (logo, company name, product name)
- Product inserts
- Main images
- And more
Asking a survey taker, “Would you buy this product?” and then showing images of your product design, versus potential new design images, versus an image of your competitor’s products can go far in discovering what branding changes you need to make.
On top of that, PickFu asks the survey taker why they made the choices they did. This valuable information is not something you can glean from a simple A/B test.
Another way to poll your target market is to ask an open-ended question. For example, plugging in your Amazon listing URL and asking, “What questions or concerns do you have about this listing?”
The responses to this question will provide you with a wealth of information – and give you a place to begin when it comes to further polling or performing a split test.
How Product Testing Can Help You Achieve Your Amazing Exit
When we spoke to Justin, we asked the most impactful question to any Amazon seller. That is, “how long does this process take?” We all know that split testing can take many weeks, if not months, when appropriately performed. In the meantime, you may be missing potential customers, and the reasons why a buyer picked one ad and not the other may not be clear.
The good news is that product testing through polling takes a much shorter time. Think days instead of weeks or months.
If you are considering an exit in the next two years, having access to rapid product testing and brand optimization is invaluable. Creating an optimized brand before launch, understanding how and why your market picks one product over another, and obtaining precise data on your marketing strategy can help you expand your brand and bring it to a new market.
This, in turn, brings in more income in the short term and makes your brand more valuable to aggregators and buyers in the long term.
Are you thinking about exiting in the next several months or a couple of years? Optimize your exit planning by getting in touch with us here at Amazing Exits.