Some businesses, particularly digital-first companies (such as Priceline Group, Airbnb, Atlassian and Netflix) are setting the standard for how a process of continual optimization, that is, to adopt a core philosophy of experimentation, drives growth. At these companies, their primary website and application experiences are not only a channel, but serve as the product itself. Their focus on and investment in optimizing their experiences provides valuable lessons for every other company working to most effectively compete on the basis of customer experiences.
What attributes do these digital-led companies exemplify that set them apart from the rest? We consider some of the factors below (click to enlarge):
The vast majority of companies fall somewhere between these extremes, but most exhibit more criteria of the second group than the first.
“Most CI professionals that Forrester interviewed… estimated that 30% or fewer digital customer interactions are used in some form of online testing”, while “only 61% of firms have had an active online testing program for two or more years.†”
The gap between these two sets of attributes represents the key opportunity to create and sustain a competitive advantage in experimentation. This gap has numerous root causes, from business model, organizational structure, technology investments, and available skill sets, and may appear vast. Yet, there are measures that any organization can take to efficiently leapfrog these hurdles to the front of their competitive group.
Read the full ‘Adopting an Experimentation Philosophy‘ whitepaper now to understand how organizations can close this gap by maximizing their existing people and technology resources, and ultimately achieve better performance.