YOUR PROBLEM SCORE
The problem factor is a Validat.io weighted number based on four elements. The higher the score the bigger the problem for your customers.
"I wish... there was a wearable device that allowed me to more conveniently access apps, information, and messages from my smartphone as well as monitor my health and fitness."
YOUR SCORE VS THE AVERAGE
61.8% of respondents
report having this particular problem. This is above the Validatio average of 55.3%.
63 respondents
struggle with the problem you are trying to solve
39 respondents
do not struggle with the problem you are trying to solve.
YOUR SCORE VS THE AVERAGE
12.7% of respondents
have this problem. This is below the Validatio average of 24.7%.
56 respondents
believe the problem you are trying to solve to be not a problem.
33 respondents
believe the problem you are trying to solve to be a little problem.
12 respondents
believe the problem you are trying to solve to be a moderate problem.
1 respondents
believe the problem you are trying to solve to be a large problem.
YOUR SCORE VS THE AVERAGE
59.8% of respondents
are satisfied with existing solutions to the problem you are trying to solve. This is above the Validatio average of 59.0%.
4 respondents
are very dissatisfied with existing solutions in the market.
37 respondents
are dissatisfied with existing solutions in the market.
50 respondents
are satisfied with existing solutions in the market.
11 respondents
are very satisfied with existing solutions in the market.
YOUR SCORE VS THE AVERAGE
22.5% of respondents
are searching for a solution to the problem you are trying to solve. This is below the Validatio average of 22.7%.
45 respondents
are not at all searching for a solution to the problem that your idea solves.
34 respondents
are lightly searching for a solution to the problem that your idea solves.
19 respondents
are moderately searching for a solution to the problem that your idea solves.
4 respondents
are aggressively searching for a solution to the problem that your idea solves.
PROBLEM ANALYSIS
There are four aspects we analyze when we measure the problem you address for your target customer: whether they have the hypothesized problem, the severity of the problem, satisfaction with existing solutions, and if they are actively searching for solutions to the problem.
- An above average number of customers have the problem you address.
- Severity of the problem you address is below average.
- Customer satisfaction with competing solutions is above average.
- Customers are actively seeking solutions to this problem.
PROBLEM OPPORTUNITIES
- Many people report having the problem you are trying to solve, you have a large potential customer base.
- Customers don't report this problem as being very severe which means they may not be clamoring to buy a solution to this problem. Explore other ways you might be able to help them, or educate them as to why the problem is bigger than they perceive.
- Customers are already satisfied with competing solutions in the marketplace but you have an opportunity to differentiate your product. Figure out what specific unmet needs aren’t being addressed by competitors and focus on them. This may also simply indicate that you have a small market opportunity.
- Customers report actively searching for solutions to solve this problem. This should give you an easier time with marketing and accessing your target market.
YOUR SOLUTION SCORE
The Solution Factor is a Validat.io weighted number based on three elements. It measures how well your solution solves its target problem.
"Sample Idea - Apple Watch is a(n) product that gives its users you advanced technology functionality when paired with your iPhone. by keeping precise time, allowing access your smartphone apps, notifying you of incoming messages, incorporating intuitive voice and touch controls, enabling one touch payments, incorporating advanced fitness and activity measurement features, and offering advanced durability with a virtually unbreakable sapphire face."
YOUR SCORE VS THE AVERAGE
82.4% of respondents
think your idea solves the problem that it sets out to solve. This is above the Validatio average of 64.8%.
7 respondents
believe your solution does not solve the problem at all.
11 respondents
believe your solution solves the problem to a small extent.
38 respondents
believe your solution solves the problem to a moderate extent.
46 respondents
believe your solution solves the problem to a large extent.
YOUR SCORE VS THE AVERAGE
57.8% of respondents
would use your solution in the future. This is above the Validatio average of 53.5%.
19 respondents
are highly unlikely to use your solution in the future.
24 respondents
are not likely to use your solution in the future.
47 respondents
are likely to use your solution in the future.
12 respondents
are highly likely to use your solution in the future.
YOUR SCORE VS THE AVERAGE
51.0% of respondents
see themselves using your solution as a primary solution in their everyday life. This is above the Validatio average of 38.0%.
28 respondents
would solely use your solution to solve their problem.
24 respondents
would use use your solution as their primary solution among other solutions.
23 respondents
would use your solution but not as their primary solution.
27 respondents
would not use your solution in their everyday life.
SOLUTION ANALYSIS
There are three aspects we analyze when we measure the effectiveness of your solution to address your customer’s need: how well your solution solves your customer’s problem, how likely they are to use it, and how its use would fit in with their current products.
- Your product solves your customer’s problem to a well above average extent.
- Your customers were slightly more likely than average to use your product.
- Your customers were more likely than average to use your product instead of competing solutions.
SOLUTION OPPORTUNITIES
- Customers currently feel that your solution solves the problem you are solving very well, but remember to monitor their feedback and usage as you make changes or improvements to your product.
- Since your target customer indicates that they are likely to use your product only slightly more than average, you need to make sure you keep their awareness or your product and its benefits high.
- Customers report a higher likelihood of using your solution versus existing solutions. Continue to maintain whatever distinctions, differentiations, or improvements over the competition that you currently have.
PRICING
See how much your customers would value your solution in dollars. Even if you intend to have a free product it is helpful to see your customers’ perceived value.
"I want to know how much customers would pay for my idea per smartwatch."
*Note: Outlier prices were omitted.
REVENUE MAXIMIZATION RANGE:
$87.50 to $175.00
The revenue maximization range is the range of prices that we believe will generate the most revenue for your product. It is calculated by determining which range of prices contains the best combination of unit pricing and number of respondents willing to pay for that price.
This analysis may not apply when the goal is to acquire unpaid users.
SURVEY DEMOGRAPHICS
The survey demographics give a breakdown on the respondent ages, gender, and education level.
AVERAGE AGE OF RESPONDENT
RESPONDENT EDUCATION LEVEL
55.9%
44.1%
2 respondents
did not finish high school.
18 respondents
achieved a high school degree.
31 respondents
have some college experience.
39 respondents
achieved a college degree.
12 respondents
achieved a graduate degree.
DEMOGRAPHIC OPPORTUNITIES
We tested your idea on a 100 person general population sample set. In order to more effectively test your solution, including a reduction of margin of error in responses, we recommend you more narrowly specify your target customer demographics and test it with a wider audience.