Market Test Platform: Secondary Revenue and a Test-bed for Business Ideas

As more and more business ideas are contributed by site members, it has greatly increased the excitement and anticipation to turn these ideas into business ventures. To implement as many contributed business ideas as we can, we are encouraging site members to input their thoughts and suggestions on the various market test platforms that will become the test-bed and launch-pad for new business ideas. The market test platforms are written in the first part of the wiki-biz-plans. Feel free to contribute your ideas, suggestions and other related information to the wiki-biz-plans.

Why start market test platform?

As we select the first business idea to implement, a market test platform will be established concurrently. The market test platform will lay the grounds for implementing business ideas of similar industry or targeted markets in the future. It is more cost effective to launch new products or services using existing infrastructure and resources.

Market testing is imperative in starting a business. We do not want to spend money and time working on product /service, only to find that a market does not exist or the market is not receptive of our offerings. We are sure that the online community wants to invest on products/services that will succeed in the marketplace. As such, the more a product or service is market-tested, the higher the chance of earning profits from the business ventures.

Secondary Revenue for Gogme LA

New products and new services are high-risk business investments. Through Gogme LA, we have greatly diversified business risks through an online community. However, we still need to make sure the business ventures are successful and profitable. Instead of fully relying on the contributed business ideas to work and turn profitability, the market test platforms will provide secondary revenue for Gogme LA. The market test platforms will provide paid services and consultancy for other companies to market test their products/services.

Basics of Gogme LA’s Market Test Platform

Primary Market Research: Online/Offline feedback and surveys

The luxury of having a social network of co-owners and site members will allow the validation of the marketing and business plans. Additional feedback through internet survey and online focus groups from the target market is possible. The operation team can get direct feedback from potential customers as well. Different price-points can be proposed to potential customers to see how much they are willing to pay for the products or services.

Secondary Market Research

Site members are encouraged to contribute and compile industry data, demographics information, news and other relevant sources. Such information is readily available or can be obtained for an affordable fee.

Sharing of infrastructure and resources

Selected business ventures of similar trades can use existing infrastructure and resources to test launch products and services. Additionally, other companies or individuals can make use of our infrastructure to launch their products and services as well.

Test out different marketing messages

Various marketing messages and promotions can be tested before launching a full advertising campaign. The internet is a good media to find out which messages are more resonating with potential customers.

Customized market test platforms for various industries

The creative input from the online community allows customized market test platforms for various industries. The cost-savings from affordable market testing will keep business ventures competitive and profitable.