The Power of Rapid Offer Testing | #028

There’s no crystal ball that will reveal how your new idea,
service or product will be received by the masses. That doesn’t
mean you have to launch blindly though.


 


Behold the power of rapid offer testing. If done right, the
results will be as failproof as you could hope for, giving you
the confidence you need to further your investment.


 


In this episode, Adam discusses the steps to rapid offer testing
and how it can save you incredible amounts of time, energy, and
resources.
Episode Discussions:

The best tools to use with rapid offer testing


How to create a “super ad “


Tips on measuring Rapid Offer Testing success


The cost associated with Rapid Offer Testing (hint: it’s not a
lot!)


 


3:00
What is Rapid Offer Testing

Enables you to put out a quick ad and gauge marketplace response.


 


2 best tools to use this with:


-Facebook Ads


-Google Adwords


 


3:23
How it Works

Create a simple ad with what you're proposing to create or
sell.

Clearly articulate what you're trying to do and send it out
to see what happens.

Come up with a competing ad: tweak offer or refine it for a
better result.

Observe whether or not it will resonate better with who
you're trying to reach.

Compare the results of one against the other.



 


Goal: create a few different ads and offers to ultimately create
a "super ad."


 


4:51
ROUGH guidelines to measure success:

Facebook Ads:


$1/CPC (cost per click) = relatively decent offer


CTR (Click-thru rate)(the percentage of people who are clicking
the ad):


Anything over 1%= decent


 


The higher the CTR and the lower the CPC, the better.


 


7:00
A Rapid Offer Testing run through from start to finish: Have an
idea or offer you want to test but uncertain of how it will be
received Create a simple ad Include your offer and call to action
(CTA) Check your CPC and CTR Split test: create another ad for
comparison and change either headline or CTA. Make only minor
tweaks and adjustments. Determine if you want to create additional
ad to test against that.

08:34
To take it a step further…

Involve additional market research tools as highlighted in
episode #3 and through surveys.


 


Takeaway message: It doesn't make sense to launch blind.


 Always have a basic idea whether your product or service is
going to resonate or sell.


Those who best understand their customers wants, needs, and
desires are the most likely to win.


  
Mentioned in this episode:

Episode #3 - Free Customer Market Research

Episode #2 - The Customer Avatar



 


Contact Adam: Adam@AdamErhart.com


 


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