Lesson 12 Overview

Lesson 12 Overview

Summary

In our penultimate step in progressing our concept to launch, the goal is to take what we have learned in microtesting the offering and audit it.  Another significant goal is to ensure that we don't have any weak spots in the process.

Whether taking a product to market or another launch, it is extremely important to audit each desired step the target/customer is taking in relation to the concept.  And I mean literally each step.

This is of crucial importance due to the fact that your concept is now near being taken to market (if not in market), and is subject to any one of hundreds of potential points of friction, each having nothing to do with the concept itself.  The cruel reality for your fledgling concept is that if you are inattentitive at this phase, you may be writing off your concept for poor performance, when it could be anything from the launch website being down to ads not being run to a broken lead acquisition form.

Therefore, we not only audit and test each step of the desired customer experience to ensure they appear to work, we watch the "conversion funnel" to understand how and where people interested in the concept are 'falling off.'  If we find that 90% of those coming to the launch microsite are filling out an information form, but only 2% of those leads are being populated into Salesforce for followup, that is a major problem.

Our goal in this Lesson is to understand -- in a very finely-grained way -- the nuances of behavrior of those experiencing the concept.  Without that understanding, your perfectly promising concept may find itself on the organizational scrap heap due to a crucial failure of a seemingly minor component.  You need to understand the full performance of the concept 'machine,' and any component indicating performance outside of normal parameters.

Learning Outcomes

By the end of this lesson, you should be able to:

• articulate the importance of Conversion Funnels in microtesting;
• understand the role of statistical significance in testing;
• create a meaningful iteration plan for the offering.

Lesson Roadmap

Questions?

If you have any questions, please send them to my axj153@psu.edu Faculty email. I will check daily to respond. If your question is one that is relevant to the entire class, I may respond to the entire class rather than individually.