You know your company best, so it makes sense that you'll come up with the best ideas. This guide is about bringing a structured growth mindset into the business that helps you order the chaos and create results that will blow your socks off. 🧦
Our software helps you build, measure, and learn from your experiments to help you grow faster than ever before.
An experiment sheet is made up:
The experiment's name
The start and end date
The overall goal
The metric you're going to use to measure the goal
What the metric needs to be for this to be a success
What the metric needs to be for this to be a failed experiment
Adding these extra pieces of the puzzle helps you understand what exactly you're trying to achieve before you start and will help you build a database of lessons.
Spending 2-minutes upfront will save you hours down the road.
Below is an example of an experiment we ran recently.
And below are the four experiments we launched this week to grow smarter.
The point of this experiment sheet is to:
Know whether the experiment succeeded or failed.
Make the riskiest assumption super clear.
Time-box ourselves, so we know when we need to measure whether the experiment worked.
In the example above, we have achieved success if we reduced our cost-per-acquisition of ads by 20%. If we do, we can proceed!
If our CPA doesn't change at all, we've failed, and we should try something else.
And finally, if we get a result between 20% and 0%, we know that we're onto something, but it's not quite getting the traction we need so we are going to optimise until we are in the green!
That's All Folks! 🥕
With just a few structures and adjustments, we're now super aligned on what we're doing, we know what success and failure look like, and we know what to do if whatever the outcome is.
We've also aligned everything with our north star metric (the most important metric for your business), so the whole team is now pointing in the same direction.
And most important of all, we're tracking it all.
Whether you wanted to improve the results you're delivering, align the team, get buy-in, get more resources for your team, or even get a promotion, hopefully, you can see how doing the above will help you do that!
Next Steps ⚡
If you want even more amazing resources, we're building out a bunch of free experiment ideas and guides that you can check out to get inspired and take your team further, faster.
We also have the the Marketing Jam which you can run yourself for free! This will align your team and create a clear road-map of experiments & action items you can deploy to double your growth rate over the next month. 🚀