What are the best ways to pilot innovation experiments?

1 Define your hypothesis

Before you start any experiment, you need to have a clear and specific hypothesis that you want to test. A hypothesis is a statement that expresses your assumption about the problem, the solution, and the expected outcome. For example, "We believe that by offering a personalized subscription service, we can increase customer retention by 20%". A good hypothesis should be measurable, testable, and relevant to your value proposition.

2 Choose your method

Innovation experiments can be conducted using a variety of methods and tools, depending on the hypothesis, resources, and stage of development. Interviews are a great way to talk to potential or existing customers and ask them open-ended questions about their needs and preferences. Surveys can be used to collect quantitative and qualitative data from a larger sample. Prototypes can be created to test solutions in simulated or real environments. Landing pages are useful for showcasing a value proposition and capturing visitor interest. Finally, MVPs can be built to deliver the core features and benefits of a solution, and tested with a small group of early adopters.

3 Plan your experiment

Once you have chosen your method, you need to plan your experiment in detail. This includes defining your goal, your metrics, your sample size, your duration, your budget, and your criteria for success or failure. You also need to prepare your materials, such as your questions, your prototype, your landing page, or your MVP. Make sure that your experiment is aligned with your hypothesis and that you can collect and analyze the data that you need.

4 Execute your experiment

Now you are ready to run your experiment and collect the data. Depending on your method, you may need to recruit participants, schedule sessions, set up the environment, or launch the product. You also need to monitor the progress and performance of your experiment and make adjustments if necessary. Be objective and unbiased in your observations and interactions. Do not try to influence or persuade your customers or users. Just listen and learn from them.

5 Analyze your results

After you have completed your experiment, you need to analyze your results and draw conclusions. You can use various tools and techniques to process and visualize your data, such as spreadsheets, charts, graphs, or dashboards. You also need to compare your results with your hypothesis and criteria. Did you validate or invalidate your assumption? Did you achieve your goal and metrics? Did you learn something new or unexpected? What are the implications and recommendations for your next steps?

6 Iterate and improve

The final step is to use your learnings and insights to iterate and improve your solution and value proposition. Depending on your results, you may need to refine, pivot, or discard your idea. You may also need to repeat or modify your experiment or try a different method. The key is to keep testing and learning until you find the best fit between your solution and your market. Remember that innovation is a continuous and iterative process that requires experimentation and adaptation.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?