The most significant decision that should be made before setting up your test, is what demand data you want to acquire from your new product. There are several ways to go by testing demand, and it is highly recommended to measure more than just overall demand.
If you’d like to understand more about the prerequisites required before starting your test, read this article on the first steps with Horizon: https://intercom.help/gethorizon/en/articles/5505199-first-steps-with-horizon
To measure the demand for your new product, building a landing page that clearly conveys your value proposition and its benefits, coupled with attractive visuals and mockups of your future product, is the most agile and cost effective way to validate the demand for it. Here is an example of Transferly (a demo product), a financial app that allows you to send and receive different currencies at a set subscription rate. You can view the website here.
Testing your product with a landing page allows you to find the *best possible *****solution to your potential customers’ problem, and helps you to understand the true viability of your product.
To really take your testing to the next level and to nail your customer centricity efforts, conducting a test that focuses on value proposition with two or more variants is ideal. In other words, you can test different dimensions of your product, with value propositions being just one of the many possibilities.
Here’s an example of testing 2 distinct variants of value propositions for a fintech product idea:
Variant 1. Affordability: Send and receive money for a set rate of 2.99€ per month, instead of exchange rate fees.
Variant 2. Accessibility: You no longer have to go through a complicated process of transferring money through your local bank, just simply use our app.
Other dimensions can include (but are certainly not limited to):