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Everyone dreams of having a million-dollar idea, but it takes more than just creativity to turn those ideas into a successful business. It takes a proven method. Like most children, I learned the scientific method in school and when I decided to start a business, I applied that same approach. I tested my business hypothesis, analyzed the results, and made revisions until I found a solution. Through this process, I discovered a love for solving business challenges through product innovation, which eventually led me to found Influence Mobile, develop our flagship product, and turn a simple idea into a multi-million dollar success story.
As a leader, I continue to use the scientific approach for product development. In order to stay competitive, it is crucial to constantly innovate and seek out new problems to solve. Finding innovative solutions often requires us to make improvements we’ve never considered before, posing questions that we may not have immediate answers to. However, even when faced with the unknown, the scientific method provides us with a reliable tool to make informed decisions.
Related: The Scientific Method for Entrepreneurs: 6 Steps to Long-Term Success
Observe, question, and hypothesize
To bring a million-dollar idea to life, it is essential to start with a clear goal in mind. The journey to that initial inspiration often involves a scientific process of observing a problem that needs to be solved and asking questions about the best way to solve it. At our company, we recently noticed that push messages were a significant revenue driver and we began to question how we could increase engagement and retention among long-term users of our app. This led us to invest in extending the engagement window, a strategy shift from our previous focus on early engagement and Day 1 ROAS.
Guided by the scientific method, we observed user behavior and preferences, compared this data to past experiences, and hypothesized on the best strategies to drive engagement based on our findings. By leveraging our market knowledge and understanding of our users, we came up with various hypotheses but ultimately chose the one that appeared to bring us closer to a solution based on existing data.
Related: How Do You Bring Innovation to Market?
Experiment and refine
To transform a product hypothesis into a revenue-generating stream, it is crucial to test and refine it to optimize its effectiveness. After developing our game based on predicted user preferences, we built a small prototype and shared it with a select group of players. The feedback we received was encouraging, with high levels of push notification acceptance and community engagement. This initial testing phase allowed us to identify areas for improvement and guide further refinements to better cater to user needs.
Continual experimentation is key to product development, as no product is perfect from the start. Through quick and frequent tests, feedback from users, and our own experiences, we refined the game to offer a more comprehensive gameplay experience that addressed different player preferences.
Related: The Ten Commandments Of Business Innovation
Analyze data and iterate improvements
Each test provides valuable data that guides further refinements, bringing the initial idea closer to a successful product. By observing key metrics and analyzing user behavior, engagement, and push notification acceptance, we continuously refine the product to improve its performance and addressing user needs more effectively.
Partnering with an experienced game development firm, conducting surveys, and analyzing player behavior allowed us to hone in on strategies that were working well while identifying areas for improvement. This iterative approach enabled us to make data-driven decisions and optimize the product for success.
Draw conclusions, launch, and learn
After multiple rounds of testing and refinement, we are able to draw conclusions about the best product to launch for maximum success. By launching our Minimum Viable Product (MVP) to a wider audience, we gathered new data and continued to refine the game based on real-time feedback. This approach of observing, questioning, hypothesizing, testing, and refining allowed us to identify and address key opportunities for improvement.
Continuous feedback and data analysis are essential to measuring retention and engagement over time. Just as our flagship app underwent years of testing and optimization to achieve success, we will continue to gather data, refine the game, and ensure it remains engaging and relevant to our players.
The principles of the scientific method provide a structured approach to problem-solving and innovation. This iterative process of discovery and improvement enables ideas to evolve into successful products, services, or businesses. Whether launching a new app, developing a product, or enhancing an existing service, the scientific method offers a proven framework that anyone can apply to navigate the journey of innovation with confidence.