In our last post of our brand-new series, “Oh, BEhave!,” we announced that Brooks Bell has partnered with Irrational Labs to bring behavioral economics (BE) into your experiment ideation process. Why? There are decades of experiments that your program could be using to inform your strategies! If you missed it, check it out here.
Remarkable plans lead to remarkable performances, which lead to remarkable rewards. For optimization programs, proper planning is essential for quality tests, efficient execution, data-driven analysis and incremental revenue gains.
Introducing “Oh, BEhave,” a new series to pique your behavioral economics interest!
Tune in every month with our strategy guru, Suzi Tripp, and her fellow behavioral economics enthusiasts from Irrational Labs, a nonprofit behavioral consultancy. Together, they’ll explore the principles and methodologies of behavioral economics (BE) – and try to BEhave!
A stellar holiday retail season is just around the corner, and according to Deloitte, retail sales are expected to top $1 trillion from November to January. Huge traffic increases and motivated shoppers provide a unique opportunity for your experimentation program.
At Brooks Bell’s 8th annual Click Summit in May, I had the pleasure of leading a conversation titled, “What’s Fueling Your Experimentation Ideation?” Throughout the session, participants talked about the ways to use quantitative and qualitative data, past test learnings, behavioral economics principles and the challenges they face with executing tests to their full potential. (Download the top takeaways from this session, as well as all the “Clickaways” here.) But there was one more important attribute we discussed – the importance of the team!
As online optimization programs mature and test ideation takes it up a notch, experts rely on behavioral economics – the science of studying the effects of psychological, social, cognitive, and emotional factors on the economic decisions of individuals and institutions; the consequences for market prices, returns, and resource allocation; and the impact of different kinds of behavior in different environments of varying experimental values – for data-driven inspiration.
I am a self-proclaimed behavioral sciences fangirl. Every time I read Ariely or Cialdini, my mind fills with prospective experiments. As the lead of our experimentation strategy, I am always looking for ways to further incorporate behavioral science principles into our culture.
Here’s a question I bet you thought you’d never ask yourself when you started optimizing your site for conversions: what do I do now I’ve tested everything? For businesses that have never had an optimization strategy before, the opportunities feel endless. It’s an exciting time. You and your team are full of ideas to increase […]
What you’ll get from this post: Insights into the future of testing, particularly for companies that have been doing it for a while.
Estimated reading time: 1 minute 30 seconds
This is an interesting time for mobile commerce. It wasn’t too long ago that mobile was used mainly for texting, checking email, and getting directions. The thought of using your phone for research or a transaction was a bit absurd… kind of like the idea of a driverless car. Nowadays, mobile accounts for about half […]