Trial & Error. Trial & Measure!

I’ll often chat with friends and associates about future business ideas or potential ways to take a current business forward. Quite often, we’ll talk about an idea which isn’t quite as clear cut as “That’s an awesome idea!” or “That’s a crap idea!”. A lot of the time, we’ll discuss an idea that hovers around the middle of those two extremes. Done right, it could be the next big marketing material. Done wrong, and you could be red faced for a very long time. It’s at times like that when I usually bring out my favourite phrase… “Trial & Error. Trial & Measure”.

But what do I mean when I say that? I’m essentially saying “To hell with it. Just do it and see what happens”. But I say it in a much more elegant way, of course.

I’m a big fan of trial and error. The next big thing could be just around the corner, but without taking a little risk and making a few mistakes, you’re never going to find that ‘thing’. Risks should be calculated (jumping off a cliff with no safety rope isn’t a calculated risk, but jumping off with a bungee cord and safety team is a risk, but it’s calculated to a point where you feel safe). Whenever you’re performing a little trial and error, you should always leave the door open to revert your trial. Never position yourself so you have to commit to something if it isn’t working. With trial and error, you’re testing the waters. If it works, you carry on testing the waters. If it doesn’t work, you’ve left the door open just enough to let you walk back through to where you were before the trial.

It’s pointless trying a new product or new special offer if you’re not going to measure the results. The same applies to advertising methods. As Brendon at Tailored is always telling us, you should measure everything. If you send out a direct mail campaign, you should measure the conversion rate and you should measure the return on investment. By measuring everything, you’ll soon find the best advertising methods, products and special offers that produce the best return on investment.

If you’re not sure whether a new special offer or advertising method is going to work, then do some trial and error, and while you’re at it, make sure to trial and measure.

Have you ever measured the performance of an advertising campaign or special offer? Were your results surprising? Let us know!

Random Fact of the Day: Did you know that success for fashion designer and entrepreneur Calvin Klein literally stumbled upon him? His first order came from a coat-buyer for the large department store Bonwit Teller who got off the elevator on the wrong floor and saw Klein’s work. The buyer was impressed and ordered $50,000 worth of coats. In addition, an editorial praising Klein’s designs was written up in Vogue. Klein’s reputation was quickly established.

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4 Comments»

Comment by Tom

2007-07-07 17:55:37

Good post as usual but your posting frequency is erratic, I would really suggest picking a schedule and sticking with it. I love reading your posts but 2 one day and none for a few is off putting.

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Comment by Jamie Harrop

2007-07-07 18:00:31

Thanks Tom. My posting schedule is about as erratic is my life.

I’m trying to stick to one a day. I actually thought two posts in one day on occasion would be a good move, but maybe it isn’t. One a day from now on… unless I’m beamed up by aliens.

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Comment by Russell Wagner

2007-07-10 03:11:35

haha yeah I agree with tom, you need a set frequency amount, but overall keep it up with your great posts.

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Comment by Jason

2007-07-21 23:23:48

Some call it “Ready, Fire, Aim”

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Talking all things motivational, entrepreneurial, blogging & travel. Pretty much anything other than "How to Make Money Online"! (Because when I blogged MMO I felt like a clone of the other 12 million people doing it)

6 July, 2007 - General Business - 4 Comments

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