In today's rapidly evolving digital landscape, the shift from traditional data mining to decision intelligence is more critical than ever. As datasets grow larger, the challenge for companies—especially those in the mid-market segment—is to extract meaningful insights quickly and efficiently. Heatseeker is here to help you do just that by turning your online audience into a powerful source of data through market experiments, also known as market tests.
Why Run Market Tests?
Market tests are an essential tool for understanding how your target audience thinks about your product or service. Rather than relying on broad market research or expensive surveys, market tests allow you to use real-world data from digital interactions to validate your assumptions and fine-tune your messaging, features, and value propositions.
By running market tests, you can:
Confirm that there is a need or want for your product or service.
Identify the most effective way to communicate your product’s value, ensuring that your messaging resonates with your audience.
Prioritize which features to develop next based on actual market demand.
What Are Market Experiments?
Market experiments involve using digital tools to test hypotheses about your product or service in the real world. Let’s explore the three key types of market tests you can run with Heatseeker: Benefits Tests, Features Tests, and Value Proposition Tests.
Benefits Test: Highlight What Matters Most
A Benefits Test helps you determine which outcomes or benefits of your product resonate most with your audience. For instance, if you’re launching a turmeric-orange juice, you might test different benefits such as:
"Reduce inflammation with our Vitamin C-packed juice."
"Boost your immune system with our all-natural turmeric-orange juice."
"Feel energized throughout the day with our nutrient-rich juice."
By running a Benefits Test, you can discover which benefit speaks most to your target audience, ensuring that your marketing focuses on what truly matters to them.
Example
Imagine you’re building a wealth management app. You could test benefits like:
"Quit your 9 to 5, 20 years earlier."
"Gain financial independence."
"Build wealth faster with personalized investing."
A Benefits Test will reveal which of these outcomes your audience values most, guiding you in crafting the most compelling messaging.
Features Test: Discover What to Build Next
A Features Test helps you identify which features of your product your audience is most interested in. This is particularly useful for prioritizing your product roadmap and ensuring that you invest in the features that will drive the most value.
Example
Suppose you’re considering several features for your wealth management app, such as:
Financial planning function
Portfolio management tool
Real-time market insights
Practice accounts for investment
By running a Features Test, you can determine which feature your audience finds most valuable. For example, if "practice accounts for investment" receives the most engagement, you’ll know that this is the feature to prioritize.
Value Proposition Test: Perfect Your Messaging
A Value Proposition Test helps you refine or discover the best way to express your product’s value to your target audience. Whether you’re launching a new product or refining an existing one, this test ensures that your messaging is aligned with your audience’s preferences.
Example
Let’s say you’re launching a new fitness app aimed at busy professionals. You could test different value propositions such as:
"Transform your fitness routine in just 15 minutes a day—anytime, anywhere."
"Get fit fast with our on-demand workouts designed for your busy lifestyle."
"Achieve your fitness goals in minimal time with expert-led fitness plans."
By running a Value Proposition Test, you can discover which messaging resonates most, ensuring your product stands out in a competitive market.
Why Market Testing Is Essential
Market testing is becoming a standard part of go-to-market strategies, especially for mid-market companies that need to stay competitive in a crowded marketplace. Just as having a website or accepting online payments has become essential for doing business, running market tests to validate your decisions will soon be indispensable.
With Heatseeker, you can ensure that your creative energy is focused on what matters most to your audience, allowing you to make data-driven decisions that lead to growth and success.