Test Marketing can help you verify that there is a market for your products, discover new sales channels, appreciate how long the Sales Cycle Length is likely to be, and understand what barriers to sales you will need to overcome.
LIVE MARKET TESTING
How many times have you heard your marketing director in board meetings describing in glowing terms the results of market testing or test marketing on new products?
Probably the answer is quite often and then afterwards when the process of selling the product actually starts you and your board colleagues discover that often the actual results do not justify the hype and you are then asked to "be patient" and give the process more time.
At Transaction Focus, we believe that sales and marketing are inextricably linked and that the best and cheapest way to market test is to actually "test sell" out there in the real world.
We have been engaged in test selling for a number of years across numerous product /service types and in markets drawn from every habitable continent in existence.
The process which is in real time and involves real people is not theoretical.
This is unlike conventional market research which enables those questioned to indulge their imaginations about their buying intentions, something which makes your task as a Finance Director much harder when it comes to turning forecasts into realistic projections which can be relied upon by your finance team, investors, shareholders and stakeholders for accuracy.
Live Market Testing puts people’s "money where their mouth is", determines what they are prepared to spend, how they would like to engage with you, which products and services they like, which they don't, what payment patterns or methods they are looking for and how they would like you to amend your offering to make it saleable and attractive.
Unlike your own sales force who have a vested interest in the status quo, the Transaction Focus approach ensures that the financial decisions you make about product and service viability are accurate and timely leaving you and your colleagues free to concentrate on generating income, maximising cash flow, improving profitability and the other things that matter to you.
In addition it allows you to determine, independently of your Sales and Marketing Director, just how many salespeople are actually needed to deliver the forecast numbers.