In the new approach to getting idea’s out there, I added the pivot & persevere experiments. In this post I would like to explain how this works.
400 minutes to an experiment
Every 400 minutes I build something that I can experiment with. In the case of leenboek, I designed and developed 2 landingpages, something that would email a form to me and 2 adwords ads.
Minimum Success Criteria
Before I started the experiment I defined some metrics that would tell me whether this went well or not. I decided I wanted to use about € 20,- on adwords and for that money I wanted at least 4 subscriptions (which would make it € 5,- per subscription)
I decided to target traffic on both lending out books as well as lending books, so basically you want to give out a book or you are looking for a book. I created two landingspages and two ads so the variation could not be in the design of either. The landingspages had two buttons; “I want to lend a book” and “I want to lend out a book”, leading both to a registration page where people had to choose a password and give their email address.
This images is overcomplex, but that’s just the way I like it. What it means is that 10 people registered. Much more than I expected and I actually had to stop the experiment because I was getting too much registrations. All people that registered received an email saying that they registered for something that wasn’t there yet.
Pivot or persevere
After the experiment I have two choices, pivot or persevere. If the minimum succes criteria weren’t met, I need to pivot. In other words; I wanted 4 people to sign up, then apparently this platform is viable and simply a good idea. If I wasn’t able to have 4 people sign up, I would have to pivot, because the idea wasn’t good enough. In this case, as the experiment was a succes, I need to persevere. By which I basically mean, continue with the idea in it’s form and find out what other assumptions in the idea need to be tested/perfected.
So the next assumption I made is that people actually want to open up their book collection to other people. I think this is very important to test, so right now I am building the simplest way to add books to the library and this will be my next experiment, trying to get at least 4 people to add their books to the library for € 20,-.
Whats with the 4’s?
I have no idea, I just like the number 4. To be honest I have no clue what I base these statistics on, I dont think it matters really, if I can get members for € 5,- to open up their book collection, that is fine, if I can make it work for € 2,- too, thats even better.