In previous blog posts I promised I’ll share the new business model we came up with, I promise that the post with that content is ready, and I’ll publish it very soon.
In this post, I’ll tease you a little by sharing why we just launched a new experiment to test our new business model.
A few days ago we hypothesized that if we give our customers a free sample of our product they will spend much more money with us than if they don’t get any samples.
We also hypothesized that our customers cannot see the quality of our product online, and therefore it’s hard for them to differentiate us from our competitors.
We decided to test both of these hypotheses in our hometown Portland, OR. We just started the experiment, here is how it works:
1. We changed our homepage to: https://finic.com
2. Just for fun we decided to have our customer pick their favorite color on our website, perhaps engage them a bit before we ask them for information.
3. Right after they have picked out their favorite color, from the website, they can request an invitation to order a print unless they already have an invitation code to order.
4. Then we print and package their free canvas print, and personally deliver to their doorstep within 48 hours.
5. After they receive the package, we will send them a quick five-question feedback survey to fill out through email.
6. At the end of the survey, they will see the following two choices:
- Visit our website to order more prints online.
- Get one of our interior designers to visit your home to help you decorate your walls.
We are using several channels to get people to participate in the experiment:
1. We made six types of promo invite cards for a free sample print from Finic.
Throughout this week, our team will go to precise locations in Portland where we think our prospective customers hang out and distribute these cards. The cards will have an invite code that people can use to order their free print. We will say the following as we approach people:
We are a local Portland startup disrupting wall art industry, and we’re just launching now and giving prints for free. Would you like a free print?
2. We partnered up with a few local cafes where we will have a stand with our invite cards.
3. We are also going to walk through neighborhoods that have houses valued at $500K+ and leave a version of our promo invite card in the mailbox and entrance of those houses.
4. We will, of course, test some Facebook ads, but people who come over from Facebook will need to request an invite from us to place an order.
5. I hope a few new customers will participate from this blog as well, perhaps it will be you?
We did not want to spend too much time and resources to prep for this experiment, so we prepped for this in just a few days:
Landing page is very simple, took us less than a few hours to put together:
The invite cards were hand drawn by Oleg and ordered on moo.com
We made placeholder for cards ourselves based on my design.
We decided to make the package and wrapping with local Portland colors in mind. Made gorgeous looking boxes with nice stickers on them.
Each package will also have a beautiful looking thank you card:
Here is how the survey questions look:
I have much more photos and screenshots to share – but that’s going to overload you!
Now you know everything about this crazy experiment!
We are just kicking this off today and are crazy excited about it!
If you want to participate, please comment on this blog post and do the following:
1. You must be a homeowner and live in the Portland, OR area.
2. Like my Facebook page Startup Labs.
3. Share this blog post with your friends.
4. Leave a comment below this message, and I will send you an exclusive code.
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