Jasmin and Joni share some real growth experiments they have done throughout the years and describe them in detail in Growthpodden. What they did, the outcome of it – and most importantly, why they did it. This episode is something you can’t miss!
The exciting thing about experiments is not the result. It is why we did it in the first place.
An experiment is about testing a hypothesis. You can try different experiments depending on how far you’ve come in your business.
Experiments you can do before you know that you have product-market fit.
When you don’t have a lot of traffic to your website or not a lot of customers.
- Your product is your experiment. You need to prove that your product is something that people want/need. For example, you can go out and ask ten people. How often do you buy these kinds of products?
- Don’t ask people questions about what they are willing to do. Instead, ask them what they have done before. For example: Would you like to travel away during Christmas? Most people would say; Yes, it would be nice. But if you ask them: How many times have you traveled during Christmas in the past ten years? Usually the answer will be once or even never. People can think of doing many things, but what they actually do is different from what they would like to do.
Experiments you can do when you have a product, but you are in an early stage.
- Ask people how disappointed they would be if your product would stop selling. 40% should be disappointed with your product to be worth continuing working on. If it were in a super early stage, you would need more than 50% saying that.
- Ask a question to your user; Would you recommend this product to a friend or your family?
- Have you recommended this product to someone during the last six months? What is it about this product that makes you recommend it to others?
When you have an idea but not a product yet.
- Ghost test – You promote a prototype of something that doesn’t exist yet and see if people register for a purchase or signs up wanting the product.
If you have a product and a lot of traffic and customers
- If you already have a product, you can still use all the above experiments. If you are launching a new feature, you still need to know if that feature has product-market fit.
- AB-test – Launch two different versions of something on your website. Let half of your visitors come to one of the versions and the other half to the second version. The higher the differences that differentiate the versions, the greater the results.