We wanted to find out, were these people telling us they liked the product just to be nice? Or was there something else that was going on?

Jeff Stefanis and his co-Founder Amber Wason were pedal to the metal on development of their electric bike startup Riide in early 2015. They had perfected their design, they had partnered with a top manufacturing company to build the bikes, and they were offering test rides around Washington, DC as a way to introduce DC commuters to the idea and turn testers into buyers.

There was just one problem: nobody was buying.

“Our conversion rate from test rides to buying was about 3%,” Jeff remembers. “Which is not great.”

The low conversion rate confused Jeff and Amber at first, because it seemed to directly co...