So one thing we didn’t do with our original idea(s) that we decided to do this time was market research…specifically, market research BEFORE we really spent a lot of time on an idea. Afterall, just because we think what we are doing is the coolest thing in the world, doesn’t necessarily mean everyone else will dig it, too. Anyway, because asking our moms doesn’t count as “market research”, we decided to check out AskYourTargetMarket.com instead.
Kevin first heard of AYTM at Startup Weekend and has been eager to use their services ever since. Since we decided on an idea that we thought was pretty viable, the next step was to log on to their site, list the specific criteria we were looking for in our “target market” (age, income, marital status, etc.) and draft our questions for the survey that would be given. AYTM gives users two survey options (“branched” and “basic”). For our first survey (we ended up doing two) we went with the basic format. All users are automatically given three questions for a small fee, with the option to add more questions (up to 25) for an additional fee. For our first survey, we surveyed 150 people in the age range of 18-40 and kept all the other options open. We had a total of five questions. Within ten hours we had received 150 completed surveys and were able to analyze the data. Another cool thing about AYTM is it allows you to export you data so you can pretty much do whatever you want with it. Kevin plugged it into a database and was able to break everything down to a pretty detailed level.
We were pretty pleased with the results (namely because they confirmed we weren’t completely crazy) and showed there would be an interest from consumers in what we are building. From these results, we determined that people in the 18-34 age range expressed the most interest and almost nobody said they’d use it as a dating application and would be more apt to use it for professional networking and people watching. We found this pretty interesting because we were expecting more people, especially in the younger age range, to use it for dating purposes. (We were pretty happy about this as we weren’t too jazzed about building something that resembled a dating service.)
After our first survey, we decided to do a second one to drill down a little more. We had a general sense of peoples’ interest levels, but this time around, we wanted to find what percentage of people who owned smart phones or planned to own a smart phone in the next six months would be interested in our application. To say we were pleased with the results from this survey would be an understatement. 75% of the people we surveyed (out of 100 people this time) indicated they’d be interested. While we still have some issues that we are resolving to make our service “adoptable”, based on the results we got from AYTM, we feel pretty justified in moving forward.
So, moving forward is exactly what we are doing. We feel like we have a pretty solid idea and now Kevin is working away (fast and furiously!) to build all the technical components that we need to push this out for people to try. We are hoping to have something (though it probably won’t be super pretty yet) ready by the end of July.
In the meantime, for anyone interested in being a private Beta tester for us, feel free to drop us your info on the “Request an Invite” section of our site. We’ll keep you in the loop, give you more details about what we are building, and let you know as soon as we’re ready for you! We think the key to this will be consumer adoption so we are very thankful to all that express interest and want to help us out by testing.