How to validate your digital product idea to ensure 100% market acceptance?

There are two types of entrepreneurs. Ones who go all in with a product idea they believe in, cross their fingers and hope for the best. The second who runs a thorough market research to ideate, plan, build, and only then deploy a digital product.

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How to validate your digital product idea to ensure 100% market acceptance?
How to Validate Your Digital Product Idea to Ensure 100% Market Acceptance
Table of contents

2. How is AI used in MVP to validate a product idea?
The ways of validating digital product ideas
Define user personas
Market size estimation
Users’ willingness to pay
Scope of entry
Table of contents
Cost effectiveness

3. What are the common challenges you come across during a product idea validation?
How does Simublade help entrepreneurs with digital product idea validation?
FAQs
Reading Time: 9 minutes
There are two types of entrepreneurs. Ones who go all in with a product idea they believe in,
cross their fingers and hope for the best. The second who runs a thorough market research
to ideate, plan, build, and only then deploy a digital product. Now the probability of the first
category entrepreneurs to succeed, while there, is extremely luck based. On the other hand,
the second category entrepreneurs have greater chances of success owing to the efforts
they have put in the homework. But how do you transition from being category one
entrepreneur to category two? The answer to this is validating the digital product idea.
Here’s a little sneak peak into why it is important? According to a recent find by
Businessofapps, the cost of developing a medium complexity app is between $32K to $48K

4. and the number of applications in the stores has grown to 2.18 million in App Store plus 2.65
million on the Play Store. This combination has created a situation where one wrong decision
can fail your app when you launch it in the overcrowded app stores.
So, digital product validation comes as an ideal solution to addressing this situation.
However, know that innovation is fully achievable without risks.
What is digital product idea validation?
This means testing the performance, functionality, and market suitability of a product. It is
further crucial to check how many products, similar to the one you want to launch, are out
there and performing well in the market. An absence of these stages can have a dire impact
on your business success. The latest data from the Bureau of Labor Statistics found that 1out
of4businessesfail during the first year of operation.
While we are not going into details behind the figure, it is a known fact that a failed digital
product has the power to derail a business. So, one of the ways to de-risk your business and

5. protect your capital investment is product idea validation via an MVP. Let us explain.
Even when you build a market research backed digital solution, itsA Simple Breakdown
success would depend on how effectively you answer these four questions before building an
MVP –
Do enough people want it?
Are those people willing to pay for it?
Does the app have a unique value proposition?
Can they find your digital product easily?
Let us look into the ways you can get answers to these questions by looking into how to
create an MVP and then the digital product validation process.
The role of MVP in digital product idea validation

6. An MVPor minimum viable product is a strategy of validating digital product ideas. Quick
solutions are created on a small budget and least time with just enough features. It is then
launched and used as a tool to assess functionality and market viability. This way,
entrepreneurs do not have to just depend on a hazy idea to make better decisions. Here’s
how an MVP is built.
An MVP is perfect to understand how innovative your digital product
Steps to Build an MVP
would be. It is further refined with real-world feedback from early adopters. This tangible
demonstration of market demand lowers the risks of failure and prevents the loss of big
capital investment.
The basic steps to create an MVP includes determining the following: the target issue, the
target audience, initial features, design and prototype, and finally testing the MVP before
releasing it before the public. Post this, entrepreneurs and product developers together have
to monitor and analyze the product to make the necessary changes
How is AI used in MVP to validate a product idea?

7. Using AI in MVP means better quality, quantity, and relevance of your data. This is a way to
improve the effectiveness of your initial product to a great extent. Artificial intelligence
combined with machine learning also helps entrepreneurs predict user needs and refine
product features. This is done by complex data learning and model training. Altogether, a
data-driven approach makes your MVP more user-focused.
At Simublade, we are a software development company that creates well-How AI Works
strategized artificial intelligence solutions. Learn about our AIservicesto understand how we
put your idea under the technology and market viability microscope for an efficient MVP.
The ways of validating digital product ideas
On papers, validating an app idea is fairly straightforward. You look into the competition, talk
to your prospective user base, and run technical feasibility tests to get a clarity on whether
your digital product will be accepted. In reality, it is a multi-phases process. And, this process
is of utmost importance. Statistics say that the lack of idea validation for AR and VR hardware
of Meta had once ledtoalossof$230billion. This had significantly dropped the company’s

8. public shares by 26%.
So, consider understanding and following these ways to validate your idea forContactUs
your digital product to test if there is a market waiting for it. It is also the first step to ensure a
successful digitaltransformation.
Define user personas
One of the sure shot ways to validate a product idea is to fix the user persona and check if
your app idea would meet their needs. At Simublade, we identify and combine both
demographics and psychographic information of your prospective users while building a user
persona to validate your digital product idea. While the demographic side of a persona
consists of information around age, gender, profession, income, and in some cases marital
status, the psychographic profile is much more in-depth. In case of psychographic persona
creation, we look into the users’ goals, their motivators, pain points, attitudes, frustrations,
and create a rough look into their day –highlighting the instance where they will use your
application.

9. Getting user persona right has plenty of benefits like remembering and relating to your
potential users and making informed choices instead of assumptions.
Once you have drafted the user persona, the next step that comes is putting your application
in the center of their life and measuring the scope of acceptance.
Market size estimation
Would you build an app if there were 1 million potential customers vs if there were 1,000 users?
I am sure you would go for the former. But how to estimate that approximate number? The
best approach is by looking into the number of people talking about your idea or product
concept through any keyword research tool.
You can enter the primary keyword, in this case {your app category} + {app} in keyword
research tools like GoogleKeywordPlanneror Semrushand look into its search volume in
your selected region.

10. Now, it is one thing to know the current demand of your application’s concept and completely
another to gauge the future demand of the idea. The solution to this again lies with
performing past data market research through platforms like GoogleTrends.
Users’ willingness to pay
The demand for an application or digital product is irrelevant for a business if the sector’s
audience is not willing to pay for using it. So how to figure out the highest amount that
customers can spend? For this you have to really know them. So, conduct surveys to gather
both qualitative and quantitative data. A few questions to include are:
What would you use our product for?
Will you use it individually or as a part of a team?
What would you wish to achieve using our app?
How often would you use our product?

11. Further, you can check competitor apps and divide their total revenues by total downloads.
The resultant number will give you an estimate into users’ willingness to pay and the amount
they are comfortable with.
In addition to this, platforms like SensorTowerand AppAnniealso offer services around
tracking revenues earned through in-app purchases. Using these platforms will give you an
idea of what to expect from your application concept in terms of revenue.
Scope of entry
A key part of product concept validation is to know if there is a scope for new apps to enter
the category. Here are a few ways to find a concrete answer to this question.
Look into the age of the apps active in the category. If the majority of the category is
made up of old applications, it is a good sign that it is difficult for a new application to
enter the market since it’s highly competitive.

12. Look into the competitor apps’ reviews and ratings. If the users are not enjoying these
apps, chances are, they will be willing to put in their money and time into new solutions
that address those issues perfectly.
Look at the reliance on advertisements. If the top applications of your category are
investing heavily on advertisements, you can be rest assured that you will also have to
compete for that ad space to get your users’ attention.
Why should you consider digital product idea validation?
When you validate a product idea, you take guesswork out of the equation. Below are the
compelling benefits of considering an idea validation strategy.
Better customer connection
The main idea behind product idea validation is to figure out if it truly resonates with your
potential customers. When you release an MVP after proper qualityassuranceand work on
the feedback, you listen to what your customers want. This accurately includes their pain

13. points and their needs. Implementing what is important for them is a fantastic way to build
trust and show them that you are a brand that cares. It also protects you from creating
software that nobody wants. Altogether, this paves the way for long-term success.
Quicker to market
TheMVPdevelopmentapproachis a quick entry to the marketplace. Entrepreneurs are able
to enter, test, learn, and refine –all with minimal effort instead of sophisticated coding, UI UX
designs, and cybersecurity measures. MVP means to :
speed up the process of turning an idea into a viable product
gather the required information, and
carry on with the later developmental stages.
This offers a competitive advantage since you gain a strong brand recognition for delivering
great customer value. It is especially true in case your company is the first one to introduce a

14. new product to the market. Otherwise too, bringing a product with a unique value proposition
like mindblowing performance and superior aesthetics than products of fellow brands can
help you leave an indelible mark on customers’ minds.
MVPin12weeks
Risk management
Traditional methods like a digital product simply breaking into the market has significant
risks. This includes waste of time and resources that were invested. Here’s proof. Studies
have found that 95%ofnewproductsfail since it seems that entrepreneurs do not know
how to launch successfully. So, what typically goes wrong? By adding too many
functionalities, it gets difficult to focus on the true purpose of the software. Therefore, it is
ideal to consider an MVP solution first for product validation early in the development
process.
Cost effectiveness

15. Product concept validation with MVP begins with a minimum set of features. This is ideal to
maximize the invested capital wisely. Wondering why? Well, the expenses are spread out over
a period of time which acts as a cushion for your budget. Further, the earnings from this MVP
validation stage can be reinvested to boost revenue. Overall, product idea validation ensures
low financial commitment to expand the chances of improvements based on customer
behavior and demands. It is also easier to experiment first to understand where to put the
resources and money to achieve the best results.
Otherwise, a mature product involves detailed developmentand years of slogging with a
price tag that matches the time and effort.
What are the common challenges you come across during
a product idea validation?
The first and foremost challenge of a digital product idea validation is figuring out if it is
solving a real-world problem. Next, one might find it difficult to encourage the adoption of the
MVP to test the market viability. Further, getting the accurate response from early users

16. could be a bottleneck in the process. Lastly, the required tools and techniques for the
validation stage might not be accessible.
The one-stop solution to this is outsourcing MVP creation to experts at Simublade. We wipe
out the fear of zero market acceptance by using robust and scalable tech-stacks. It includes
back-end, front-end, mobile, database, and infrastructure. The process we follow includes
design, prototype, development, testing, and market analysis. The cost of building an MVP
will be anywhere between $20K and $50K.
How does Simublade help entrepreneurs with digital
product idea validation?
In our role as a digital product design company, we have helped a number of startups, across
industries, solidify their digital product concept at the back of a detailed market and technical
feasibility check. The way we do that is through our extensive discoveryworkshopsession
which involves implementation planning, goals understanding, target market study, product
ideation, priority-based feature finalization, and user flow diagram.

17. All of these forms a critical part of our digitalproductdevelopmentprocess. In this phase,
experts at our software development company run a competitive and market analysis on your
application. This helps to ensure that your USPs are clearly defined plus accepted in the
digital space. Additionally, we involve real users in the process to check that the concept you
are planning to build is aligned with their goals and motivations.
Our research and business analysis teams work with you on establishing market validation
and our tech team monitors the solution’s technical readiness on platforms you are planning
to launch the solution on. Lastly, theyensure that the feature and functionalities you are
planning to add are actually buildable.
FAQs
Q. What is product idea validation?
Ans. Digital product ideal validation is an approach to test the market viability of a product.
This requires a basic framework with just enough features, aesthetics, and coding to check

18. user adoption extent. Simublade is a softwaredevelopmentcompanythat helps you achieve
it with MVP design and development before a full-fledged launch.
Q. What are the 4 steps for idea validation?
Ans. 4 steps to validate your digital product idea : market research for user persona, create a
product prototype, create a landing page for users, and collect feedback to improve.
Q. Why should you validate your digital product?
Ans. Product validation is necessary to understand whether a digital product will survive and
thrive in the market. Entrepreneurs also get an idea on the existing gaps in the product and
theareas of improvement. A standard digitalproductdesignagencycan help you achieve
the same by creating an MVP with product USPs to test the waters.

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