Use a Quiz to Quickly Find out if Your Idea Can Make you Money

Key Concepts

• Quiz for product/business idea validation
• Quick and dirty quiz vs. Quiz Discovery Funnel
• Welcome page, simple questions, pain barometer, open-ended questions, multiple-choice questions
• Asking for interviews within the quiz
• Email opt-in strategy
• Question writing techniques (human voice, simplicity, avoiding bias)
• Typeform and Tally as quiz creation tools

Why Use a Quiz?

The video explains that quizzes are useful for validating business or product ideas. They help determine if there's a market need and gather customer insights to refine the offer. Quizzes are valuable whether you're starting a business or already have a product in development.

When to Use a Quiz: Two Approaches

The video outlines two main scenarios for using quizzes:

1. Quick and Dirty Quiz (Pre-validation): Used during the ideation phase to quickly gauge interest in a business idea. This involves creating a simple quiz and sharing it in relevant online communities (Reddit, Facebook groups, Discord, etc.) to gather initial feedback. The goal is to see if people resonate with the problem you're trying to solve. This quiz doesn't require a landing page or formal branding. The founder presents themselves as an individual seeking feedback. The email opt-in is soft, asking if respondents want to be notified upon launch.
2. Quiz Discovery Funnel (Validation): Used during the validation phase, after initial market research. This is a more structured approach involving a landing page, ads (optional), and a quiz. The landing page presents the business idea as if it already exists. If visitors click a call-to-action, they're presented with a popup asking them to take a quiz to help refine the product. This funnel aims to generate leads, gather customer data, and validate the offer before launch. The video references other videos detailing the creation of landing pages, ads, and the product launch process.

Different Parts of a Quiz

The video breaks down the key components of an effective quiz:

1. Welcome Page/Popup: Sets expectations for the quiz, informing users about the number of questions and estimated completion time.
2. Simple First Question: An easy-to-answer question to encourage engagement and get users started.
3. Pain Barometer: A rating scale (1-10) where users quantify the severity of their problem related to the product. This helps quickly assess the urgency and importance of the problem the product aims to solve.
4. Open-Ended Question: A question that allows users to describe their challenges, needs, or desires in their own words. This provides valuable qualitative data for marketing and product development. The video emphasizes the importance of carefully placing this question to avoid biasing the answers. Examples include: "What's your biggest challenge with...?" or "What do you wish you had?".
5. Multiple-Choice Questions: Straightforward questions with limited answer options (maximum four) to gather specific information about the audience.
6. Asking for Interviews: Integrating a sequence of questions to identify users willing to participate in a short interview. This involves asking for consent, scheduling preferences, and contact information. The video suggests targeting users with high pain barometer scores for interviews.
7. Email Opt-in: Clearly stating that you will ask for their email in the next step. If they decline, offer an explanation of why their email is valuable and a chance to reconsider.
8. Thank You Page: A page that expresses gratitude and provides a post-quiz action, such as visiting the company's Instagram account.

Special Trick: Ask for Interview

The video highlights a strategy for generating customer interviews directly from the quiz. After a few questions, the quiz asks if the user would be willing to have a short conversation. If they agree, the quiz asks for their preferred time and contact information. This allows for direct engagement with potential customers to gather in-depth feedback.

Question Writing Techniques

The video emphasizes the importance of writing engaging and unbiased questions:

1. Human Voice: Write questions as if a person is speaking, creating a conversational tone. This involves using phrases like "Oh nice," "Okay noted," or "What about that now?" to connect questions.
2. Simplicity: Keep questions short, simple, and straight to the point.
3. Specifications: Use grayed-out text to provide additional information or context for answering the question.
4. Limit Choices: Restrict the number of answer options to avoid overwhelming users.
5. Avoid Bias: Be mindful of how previous questions might influence the answers to subsequent questions, especially open-ended ones.

Types of Questions to Ask

The video provides examples of questions to include in the quiz:

• "Did you already hear about this kind of product?" (Awareness)
• "What would you expect?" (Expectations)
• "How much would you pay for it per month?" vs. "How much do you think such a solution would cost?" (Pricing - the latter is less biased)
• "What would success look like?" (Open-ended)
• "Do you prefer X, Y, or Z?" (Multiple-choice)

Quiz Creation Tools

The video recommends two quiz creation tools:

1. Typeform: A premium tool known for its user-friendly interface, advanced features (logic jumps, hidden fields, variables), and design customization options.
2. Tally: A free alternative with fewer features but sufficient for creating basic quizzes.

Conclusion

The video provides a comprehensive guide to using quizzes for product and business idea validation. It emphasizes the importance of asking the right questions in the right way to gather valuable customer insights. By following the steps and techniques outlined in the video, entrepreneurs can effectively use quizzes to refine their offers, generate leads, and increase their chances of success.