Idea Validation Playbook

Validating willingness to pay

12 plays

Important for this playbook

Will people actually be willing to reach into their wallets and pay for your product?

If you ask your potential customers whether they would be interested in buying your product, you will most likely get positive responses. Now, if you ask the same people to show you the money and pay for it now, a fraction if any will do it. Do not trust people’s words; we want to get people to put money behind their words.

Validating willingness to pay requires strong evidence. You want your potential customers to put skin in the game. Your goal is to get users to actually commit to buying your product – or at the very least to get them to express a strong interest in it.

Once you have proved your customer’s willingness to pay, you have nailed the cornerstone of product-market fit.

Classified Posting illustration
Classified Posting

Explain and offer your future service through a classified ad

Collect Pre-orders illustration
Collect Pre-orders

Allow users to place an order for an item which has not yet been released

Conjoint Analysis illustration
Conjoint Analysis

Statistically estimate consumers' psychological trade-offs through surveys

Contract illustration
Contract

Make customers sign to use and pay for your future product

Crowdfunding illustration
Crowdfunding

Fundraise for product development or production

Dry Wallet illustration
Dry Wallet

Simulate a 'pay now' experience

High Hurdle illustration
High Hurdle

Make the user experience more difficult to use to gauge keen interest

One Night Stand illustration
One Night Stand

Probe demand with a temporary working solution

Physical Before Digital illustration
Physical Before Digital

Sell a physical version before creating its digital equivalent

Provencial illustration
Provencial

Run a test on a very small sample before launching world-wide

Sales Pitch illustration
Sales Pitch

Present the sales pitch of your product to a potential customer

Sell the Future illustration
Sell the Future

Sell your future feature before implementing it