Try, Fail, Adjust
Hello, and welcome to Aftershock Weekly, episode number 31. This week we’re actually in our new conference room in our new space, so it’s pretty exciting, a lot of great things going on at Aftershock. And I got to thinking about last week, I told a story about Lead Box and how that was an early venture for me a long time ago, and the things and lessons I learned. Well, one of the big things I heard early on, too, was Try, Fail, and Adjust. You’re never going to get everything perfect, and you have to take action so you can figure out from that action what you can change, what you can adjust, and then move forward and make better decisions.
So I was reading a story earlier today, and it was talking about WD-40—a company that we all know, we’ve probably all used at one point in time—and do you know why it’s named WD-40? Because it took 40 times to actually get the product to do what it was supposed to be, which was a degreaser. But the first 39 degreasers failed. So, what they did, I’m sure, is they figured out why the first one didn’t work. And then they said, okay, let’s come up with a game plan on what we need to do for the next version, and why the first version failed, we’re going to fix that in the second. And through that process eventually they came up with the product that we all know and love and has sold billions and billions of dollars.
Well business and marketing are very similar in that. When you’re marketing your product, you come up with an offer. You say, I want to offer—if you’re a facility that has membership, maybe you offer thirty days free, or you’re offering a discounted rate to come in. Or if you sell products online, maybe you are just trying to drive traffic to a specific demographic and see, once that traffic gets to the site, how many of them are buying? Maybe you’re targeting millennials, maybe you’re going back and you’re targeting Boomers with a specific ad. When you come up with your strategy for whatever you’re trying to do in marketing, and from there you implement it. You pull the trigger. You spend the money.
It’s not always Try, Fail, and Adjust, sometimes it’s Try, Weigh the Options, Measure, and then make another decision. Adjust it. Right? So, for example, say you were running a Facebook campaign, and you were targeting millennials like I just mentioned, and you had an A/B test, meaning that you had one ad that had one picture and a specific offer. And then you had another ad with the same picture and a different offer. Well what you’re doing is testing the offer to see which one is going to elicit more sales or get more traffic to your site. Then you can say, okay, this one’s getting better results, I’m only going to show this one. Now what I want to do is test my landing page. I want to see all the traffic I’m sending there, I want to send the traffic to two different landing pages.
So there’s two very clear ways you’ve A/B tested, you’ve looked at results, you’ve changed, then you’ve gone on to the next step, you’ve looked at A/B test and results, you’ve changed, and now you’ve got the best outcome in that particular situation. So whether you’re going into business or you’ve already started a company, the fact that you’re taking action is important. If you fail, no big deal. You can always pick yourself up. Usually, there’s not a lot in life that’s completely detrimental when it comes to business, not one decision that’s going to make your life unravel. But you have to take from it, what happened in this decision, what was the outcome, what can I learn from it, improve upon it, and then take the next step to make it better.
So, any failure can be a win, that’s one thing that I’ve learned. So the Try, Fail, and Adjust method, for me, has been huge in business. So thank you so much for tuning in this week. I want you to let me know a failure in real life that you’ve turned into a win, what you learned from it, and what you ended up doing. Would love to hear about that. So, with that, we’ll leave you with a quote.