Following our presentation a couple of weeks ago we felt we needed to undergo our primary market research. Primarily our main issue was to find our if there is a gap In the market for our application and who would be interested in doing this.
Taking into consideration we have no funds to market this idea, we created a survey on survey monkey and began sharing it on all of our social media platforms. By asking friends and relatives to do the survey for feedback. Within a few hours we had 200+ surveys complete. Within 24 hours we had 350 with 90% of these people saying they think our survey is a good idea and would be interested in paying for this facility. The feedback we got from the survey was triple what we had originally expected and at zero cost.
This has given us a head start and greater insight to what our market will pay as one of the main questions and issues around the creation and publication of any application of software is financial issues. Here we can ensure there is a constant cash flow. With other funds such as investors and our partners of nightclubs we hope to break even a lot erlier than many other application ideas.
The survey itself was only 7 questions and offered the illustration of the results in charts for easy legislation and input into our business plan.
We have also come up with an idea of screen shooting the feedback we were getting online. Such as ‘great app, would definitely use it’ within our presentation as something extra that may grab the attention of the buyers.
Along with this we are going to do a video timeline of the progress we are making on the application and the hurdles and highs of that process.