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.
Explain and offer your future service through a classified ad
Allow users to place an order for an item which has not yet been released
Statistically estimate consumers' psychological trade-offs through surveys
Make customers sign to use and pay for your future product
Fundraise for product development or production
Simulate a 'pay now' experience
Make the user experience more difficult to use to gauge keen interest
Probe demand with a temporary working solution
Sell a physical version before creating its digital equivalent
Run a test on a very small sample before launching world-wide
Present the sales pitch of your product to a potential customer
Sell your future feature before implementing it