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How do I direct my business to a target audience?

How many people from a target audience should be interviewed to judge demand?

  • I interviewed 50 users representing my target audience, and 65% said that they would pay for my product. Should I interview more ?? My product is a SaaS business management for an unspecified seller.

  • Answer:

    People who say they are willing to pay for a service often do not end up paying for your service. It's just the nature of people and surveys; they may say they'll pay to save face and encourage you.

Cory Loo at Quora Visit the source

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Based on the details you provide to your question, my answer is zero. Unfortunately, asking someone, "Would you pay for this?" is not a good way to judge demand. As notes, people who say they will pay for something in theory often don't follow through in practice. There is scholarly research that demonstrates this. So don't keep interviewing people this way; it doesn't give you real information. Instead, ask people for money. If they are willing to give you the money, or sign a form that says I will give you the money when you show me the next version, then you judge demand in some meaningful way. You should have a minimum viable product so that users can gauge whether they really want to pay for it or not. The product can (and should) then evolve based on the feedback you get from users.

Neha Bagchi

If you're wondering if it's a statistically viable sample, your margin of error is +/-~13% You should interview more people. This is especially true if what you plan to build is expensive or time consuming.

Adam Lawrence

If you are selling a SaaS product for business management then your target audience is probably very large, even if you are focusing on one specific industry or vertical.  If all 50 of your participants are decision makers when it comes to purchasing a product like yours, then you are on the right track - but I would recommend building a cheap sample and distribute it for free to gain some more feedback.  Offer those participants an inside look at what you are planning to do, it gives them more of a reason to buy it - knowing that there input was part of the production

Casey Fictum

You should can it (package it) in demo, and soft-ship and get more customer feedback. Building in a black hole in this fast industry for a SaaS product is not wise - just do it. The insights gained in that alone will give you the clarity you seek.

Ellen Feaheny

Try building a Minimum Viable Product.

Benjamin Alijagić

Benjamin is spot on - do something and do it very cheaply/quickly.  Position it as a demo to get feedback and iterate quickly.

Karl Waldman

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