Brands can generate relevant and ongoing dialogues among decision-makers by testing ideas, products, services, or prices.
While experimentation encourages innovation, brands must ensure they avoid unnecessary tests that deliver minimal managerial impact. As an alternative to testing, businesses can refer to existing research like peer-reviewed studies.
Businesses must invest in processes that enable their employees to submit ideas – however small or modest they may seem. For instance, brands can mine website purchase interactions, change the questions being asked and engage with users in real-time. It can help brands uncover small ideas that may deliver impact with little risk.
Companies must study opportunity costs inherent in testing as well. Building tests from data they are confident about will provide brands with hypotheses for testing and generate dialogue about business elements like order-fulfilment policies and pricing.
[9 minute read]