Gotta catch ‘em all! Pokémon Go is without a doubt the killer app of Summer 2016. It has invaded the internet and most likely a large majority of your friend’s mobile phones over the past week. While existing with a rather simple premise the mobile game has already registered a huge pivot in parent company Nintendo’s market value with an estimated $7.5 billion to $11 billion increase. So what can we entrepreneurs do about this Poke-craze? Here are 3 things entrepreneurs can learn from Pokémon Go.
1. Launch Early And Test The Waters
It’s often been said that if you’re waiting for your product to be perfect, then you haven’t launched soon enough. This is no more true than with Niantic’s Pokémon Go mobile game. After its launch a few days ago, there were hundreds of reports of bugs, freezes, and malfunctioning game mechanics. That all being said, it is still the most downloaded app on both iOS and Android platforms. It is also generating millions of dollars for its developers from in-game item purchases. What can we learn from this? If you have a solid product and the means to launch, get it out there and test the waters. Don't get us wrong, we're not advocating the release of a broken product. What we are saying exactly? If you have a product that meets your target's base value set, release it into the wild. You can always improve based on established feedback loops.
2. Nostalgia Matters
Let’s face it, the Pokémon IP brings back memories for all of us. Being an 80’s baby I remember having lunch time battles on my Game Boy’s crappy wired connection with my fellow gamer friends. At the time, Pokémon was an epic release from homework and what I thought were real responsibilities. Pokémon Go brings back those cherished memories and allows us to share in new adventures with strangers who may have had similar childhood or adolescent experiences. The old is new again! It’s evidenced in nearly all forms of successful media from movies to music and more. If you’re working on a new big idea or product try injecting some 80’s or 90’s creative flavor into it. After all, the Millennial generation that grew up during these periods is becoming the largest population with the most buying influence... just saying.
3. The Virtual World Can Have Real World Effects
Pokémon Go utilizes a multitude of technologies to provide an augmented reality experience to its players. It consolidates your phone’s camera, GPS, audio, video, and touch screen functions to present a “user-friendly” approach to a never-ending fetch quest of fun. While playing the game, you will traverse your physical area and collect in game critters and items. The great part about all of this for business owners is that some of the in game locations happen to be either very near their store-front or be the store-front itself. By leveraging the game’s mechanics, it’s possible to attract real life foot traffic to your business. We recommend utilizing the games “Lure Module” item to attract players and Pokémon alike to any PokéStop (virtually rendered GPS marker) that is near your business. More foot traffic equals more customers which equals a better bottom line.
This is just a short list of tips we have learned from playing and observing the Pokémon Go craze over the last week. We’ll continue to study the game and offer up any more advice we can about how Pokémon Go can go to work for you.
Owning a company like Maveriqs Academy affords me the opportunity to communicate the victories and pitfalls of my own entrepreneurial journey with our audience. One thing I've learned in my near decade of working in technology sales, digital marketing and business development is that transparency goes a long way. In keeping with that spirit, I want to be clear that Maveriqs Academy will be a transparent company when it comes to the process with which we do business.
With all of the above being said, here's the latest: We are currently at the bottom. We haven't made a dime with Maveriqs Academy. We haven't sold a product and we do not have any ad revenue to speak of. But we're still here! Why are we still here? Because the idea and vision of Maveriqs Academy far outweigh the feelings of disappointment we get when we see a big "0" every time we look at the "New Order" section of our online store's back end.
This is the second online company that I personally have founded and I have learned innumerable lessons from the last instance. One of those lessons is that consistency rules the day. Consistency of hard work, of optimism, and of quality content. Another lesson is that any successful online content company needs to provide value to its readers. Content with value imparts a lesson and will sometimes drive you to take action. I fully intend to implement this as a cornerstone of Maveriqs Academy.
I work a day job at a full-service marketing agency in Little Italy, San Diego. Maveriqs Academy is my full time company outside of that. Two full-time positions and two full-time commitments. With Maveriqs Academy in its infancy there is that much more to do to make the company successful. That's why we cannot slow down. We will continue to forge a path toward success by bringing you, our audience, intriguing information about the journey. Please continue to subscribe and stay tuned for more.