Innovation keynote speaker and award-winning author Jeremy Gutsche teaches his audiences and readers how to apply the scientific method to business. He believes that through testing and optimizing in uncharted territory, uncertainty can be quantified and innovation unearthed. It is important for brands to test broadly in the areas they are the most uncertain.
To further demonstrate what he means, he provides different examples of brands who effectively test and optimize:
"Yahoo.com tests 20+ layouts each day, measuring the impact on page views per visitor, time of visit, and likelihood of return.
Dell tests news products in real time, testing the price sensitivity and impact of special promotions.
Capital One mails dozens of product tests each month, playing with price points, wording choice, and even envelope color."
Brands cannot expand unless they are willing to try entirely new things. When brands only make slight tweaks to their products or services, they remain stagnant on their hill and trapped from new opportunities.
For more business advice and innovation tips, check out a free copy of Jeremy's book 'Exploiting Chaos' here.
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Jeremy Gutsche On Applying the Scientific Method to Business
- By: Jaime NeelyApr 2, 2013