Experimentation drives high impact growth
This article was based on the interview with Collin Crowell of Kameleeon and James McCormick by Greg Kihlström, MarTech keynote speaker for The Agile Brand with Greg Kihlström podcast. Listen to the original episode here:
Experimentation drives high impact growth by enabling companies to optimize their strategies, align their teams, and make data-driven decisions. In today’s fast-paced business landscape, companies need to constantly innovate and adapt to stay competitive. Experimentation allows organizations to test new ideas, gather insights, and make informed decisions that drive growth.
One of the key benefits of experimentation is its low cost and low risk nature. It allows companies to try out new strategies and ideas without committing significant resources. This makes it an accessible and effective tool for businesses at any stage of their experimentation journey. Whether a company is just starting out or has been practicing conversion rate optimization (CRO) for years, experimentation can deliver high impact results easily.
Collaboration is another important aspect of experimentation. Companies that have already started experimenting can bring in other parts of the organization that haven’t and encourage collaboration. By sharing experiences and insights, teams can learn from each other and drive growth collectively. This collaboration between marketing and product teams is crucial for achieving growth objectives and aligning efforts towards a common goal.
Consolidation is also key to driving high impact growth through experimentation. By consolidating on a single strategy and a single platform, companies can streamline their experimentation efforts and maximize their impact. Having a unified approach to experimentation, with features such as feature flagging, web experimentation, and feature experimentation in one place, allows companies to achieve the growth they desire.
Furthermore, experimentation helps companies increase their test velocity. It encourages companies to not strive for perfection but to get started and iterate quickly. Waiting for the perfect solution or building a large center of excellence before launching experiments can hinder growth. Instead, companies should focus on starting small, learning from the insights gained through experimentation, and iterating to improve results.
Overall, experimentation is a powerful tool for driving high impact growth. It allows companies to test new ideas, gather insights, and make data-driven decisions. By embracing experimentation as a core practice, companies can optimize their strategies, align their teams, and unlock their full growth potential. In today’s rapidly changing business landscape, experimentation is essential for staying competitive and driving sustainable growth.
