It is nice to see that the profit has grown by 22%, but what drivers influence this? Is it the price elasticity test, the adjustments to the AdWords campaign or a combination of these? Only looking at the main KPIs makes you blind to reality, since you do not know how they were arrived at. It is precisely the drivers below that that are important and must be visible at a detailed level. Always, and for everyone.
9. Experiments as a strategy, test everything
The days of management telling everyone on January 2nd what the 'strategic plan' is for the next 5 years are over. Experiments should largely form the basis of a strategy. By testing and using data as a guide to optimize the entire business model (including new products and services), the strategy can in fact be shaped by experiments.
Jeff Bezos (CEO/founder of Amazon) calls these 'type 2 decisions' that form an important basis for Amazon's strategy and growth. Type 2 decisions are decisions that are easy to adjust and do not have to have major consequences. According to him, these types of decisions can and should be made using data by individuals or small groups throughout Amazon. What should you pay attention to when experimenting?
Make sure that everyone in a company has the opportunity to conduct experiments. You can learn from every experiment, even if it does not lead to the desired result. Collective intelligence takes you much further than when only a handful of people are able to initiate and implement experiments. Everyone in the company can strongly influence strategic decisions in this way and have a major impact on the growth of the company.
Ensure that the number of experiments performed is continuously growing and that the costs in time and money of an average experiment are decreasing. These are 2 important KPIs that should be central. If you are able to realize these 2, you have a very good starting position to continuously grow strongly with successful indonesia mobile number list experiments. Scalability is a crucial success factor for being able to grow well with experiments.
10. Forget standard audiences, optimize around segments and intents
From traditional marketing methods, many marketers have learned to target and optimize around predefined target groups. Due to the very specific targeting possibilities that the internet offers, it is becoming less and less valuable to determine in advance which target groups you are going to focus on.
Due to the very specific targeting options that the Internet offers, it is becoming less and less valuable to determine in advance which target groups you are going to focus on.
Analytics systems like Google Analytics give you the ability to easily segment and look at patterns among certain groups of users. For example, a campaign may not work well within the group 'men aged 18 to 25', but it does work well in the segment 'men aged 18 to 25 who live in Amsterdam and use an iPhone'. So optimize around segments and intents, instead of being limited by defining standard target groups.