Report offers data-backed advice for C-suite to improve their business strategies through experimentation
Brooks Bell, the technology-enabled agency dedicated to helping global brands build remarkable customer experiences through conversion rate optimization and personalization, today released its latest research-driven report, “Experimentation: The C-suite’s Secret to Better Decision-Making,” which examines how members of the C-suite at today’s businesses — across all sectors such as retail, financial services and hospitality — can leverage strategic experimentation to drive better decision-making.
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After a tumultuous 2020, business leaders are eagerly seeking to best understand rapidly changing consumer behavior. While some may be convinced that the uncertainty of the future leaves too many unanswered questions, the report’s findings uncover there’s a way to reveal a greater understanding of the customer journey and gain a leg up on competitors: experimentation. The report uses insights from Brooks Bell’s proprietary testing management software, Illuminate®, and its extended network of experimentation professionals to reveal the three elements needed to sustain a successful experimentation program — a catalyst for change, a centralized view for insights and access to the C-suite.
“The importance of experimentation, at its core, is well-understood and on the radar of many businesses, but today’s leaders often struggle to see the value it brings to executive decision-making,” said Suzi Tripp, VP of insights at Brooks Bell. “When well-structured and supported, experimentation teams uncover data-driven insights that can help inform smarter decisions for businesses’ unique — and often complex — challenges. But without involvement from the C-suite, the insights are often siloed, untransferable and fail to lead to real business impacts. Our report not only highlights the main components of the most successful programs but also provides a roadmap toward achieving each.”
Other key findings from the report include:
- There are opportunities for leadership to strengthen relationships with experimentation teams: According to the report, about a quarter (23%) of businesses say they have trouble achieving visibility within leadership and many teams lack a formal process to share insights.
- The experimentation program structure is rarely a key driver for success: Data collected from Brooks Bell’s Illuminate platform found that no matter what form experimentation practices have taken — centralized, federated or decentralized — success is possible.
- Testing results are not shared across teams nearly enough: 43% of practitioners said test insights are shared only sometimes or rarely, which can stall progress across an organization.
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