During the early stages of Giftmybet, the more time we spent talking to people about the idea, the more we realised that primary research was going to be essential for convincing people and investors that there is a buying behaviour for the product. Little did we know how much rejection we were each about to endure when we came face to face with the general public.
We undertook 2 different types of research, the first very broad but it gave us an idea of existing buying behaviours. We created a 5 question survey asking 500 people whether or not they had thought about giving or had received a scratch card, lottery ticket or bet as a gift. The results were strong with 63% of people saying that they had purchased one of these items as a gift. This round of research proved to be the toughest in terms of engaging with the public, as people struggled to give up 60 seconds of their busy day.
The second round of research involved gifting a bet to a wide range of people across the UK. This was the moment that we really started to understand the true potential of the concept. We handed out bets covering a variety of different fields and odds, and asked people various questions including whether they would buy it for someone, of which 82% of the 200 people surveyed said they would. This round proved to have far less rejection and offered easier engagement with people as we told them about our idea and gave them a physical gift.
While the results were great, the reactions of the people we spoke to were fantastic, with one person even wanting to buy a bet right there and then for his mate’s birthday the following week. This really gave us the confidence and faith to take this product to market.
The facts are there, there is already buying behaviour supporting the concept and the public love it. Don’t let Giftmybet be the one you missed out on.