Use a Facebook group to test your company idea

Quite a few startup companies have taken inspiration from the “Software as as Service” movement (or from ancient old book clubs) and now offer other goods as a service. For instance there is the dollar shave club, founded in April 2011. Check their website for their very funny company video.  The same hase been tried with food (Love with food), underwear  and t-shirts. The concept is not new but it is popular because it is simple. You build a new service with returning revenue around an existing product. You already know there is a market for the product, and no R&D is needed since the product also exists. What is important to do for these companies is market research: will people sign up for this, and do you save as much in hassle or mark-up to make up for the shipping costs? That is the hypothesis that you need to test. And now we have mystery tackle box, the service that save you your monthly walk to to pet/fishing accessories shop.

They will send you a new bass fishing lure every month. Your fish will never be bored. I am not an avid fisher, but what I liked about this company when I read about it here  was the following comment from their tech crunch article on mystery tackle box:

“[The founder] started building out Facebook pages for various, specific interests and finding ways to monetize them. His “Bass Fishing Favorites” page attracted 80,000 likes and he realized he could drive traffic to Mystery Tackle Box from there.”

The Facebook page is here http://www.facebook.com/BassFishingFavorites and indeed has 89.018 likes. It seems they have found a cheap way, using a facebook group, to market their idea and also to test their products. So before you launch your own “X as a Service” formula, think about using Facebook to test the market and create a traffic source for your website.

Facebook page for testing the bass fishing market

The ‘Bass fishing favorites’ page that was used to test the market for bass fishing lures.

Advertisements
This entry was posted in Other articles and tagged , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s