Experimentation gives companies the competitive edge in the digital world. Winners like Amazon, Google and Netflix have experimentation in their genetic code, and they use agile, data-driven approaches to continuously adapt consumer experiences.
Experimenting to optimize experiences is not new when it comes to digital.
But manufacturers experimenting on retailers’ digital experiences—whether on their own sites or on digital marketplaces—is new.
Revolutionary, even. Because the landscape is a juggernaut. The scale is immense. The complexity is overwhelming. And the consumer expectations are a moving target.
To cut through these challenges, manufacturers need to do more than rear-view mirror evaluations that come long after major investments are made. The experimentation must be rapid, upfront and continuous. The key is to treat every product page like its own P&L and hypothesize and test solutions based on consumer insights, trends and historical data.
But rather than optimizing with simply the hope that success will happen, manufacturers can set up experiments to rapidly determine what will drive optimal performance at scale. It is a quicker, more intelligent and more cost-effective path to profitability. One that is built on a foundation of facts, not opinions.
In a world where retailers typically don’t provide detailed reporting to brands because of resource limitations—or for fear of how they will react to the data—experimenting together may seem like wishful thinking. But it is an olive branch from manufacturer to retailer. What brands and their retail partners learn through experience optimization can be applied across the site, ultimately growing the overall marketplace.