The road to an experimental mindset
Dec 20, 2024
Companies with an experiment mindset have a 20-200% higher ROI.
Why?
You adapt faster. Opportunities are leveraged quicker and waste is eliminated directly.
Experimentation is a commitment to growth, innovation, and smarter decisions. Are you willing to challenge your current approach by implementing a learning culture? Or do you keep doing what you have always been doing?
We stimulate companies to start implementing a learning culture; it drives you to the next level. It boosts creativity and tickles the mind to challenge the status quo. Marketers want to work in places with a curious culture, based on experiments.
There are 4 levels of an experiment mindset:
Basic: You conduct A/B experiments on website optimizations or marketing copy/creative testing. Learnings are used for iterative optimizations.
Advanced: Incrementality experiments are used to find the true value of marketing. Regional holdouts or conversion lift studies are conducted.
Experiment wizards: Multi-cell incrementality experiments are used to test scenarios, like tROAS experiments. You divide a region into multiple cells, and this helps to estimate diminishing returns and optimal spend levels. Another approach would be to conduct long-time geo holdout testing to find the long-term impact of brand marketing.
Magpie: Integrate experiments with modelling to enhance marketing effectiveness results. An incrementality experiment in one marketing channel will also improve the modelling results of all other channels.
Growth begins where comfort ends.