Couldn’t make it to The Personalization Summit in Boston last week? Read on for my takeaways and insights from Evergage’s event. This year’s theme? To demystify machine learning.
Brooks Bell is excited to announce that our experts are partnering with the experts at Evergage, a cutting-edge personalization platform! Read on to see why we’ve chosen this strategic partnership and what Evergage has to offer.
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!
Now you know how to Predetermine Your Test Sample Size and How to Reach Statistical Significance & Power within Your Experimentation Programs. Our final blog concludes the series and will expand your understanding of how to use Minimum Detectable Lift, or Minimum Detectable Effect for optimum test design and results.
Economists predict e-Commerce sales will range from $427 – $443 billion in 2017, a growth rate of three times higher (8-12 percent) than the entire retail industry. This upward trend will continue. In fact, Business Intelligence forecasts consumers will spend $632 billion in 2020.
This is the second of a three-part blog series. If you missed the first post, “Using Fixed Time Horizon to Generate Credible Optimization Results,” read it here. The final blog, “How to Understand Minimum Deductible Lift,” will be published next week.
Enterprise businesses continue adopting the concept of data-informed decision-making. They are shifting their organizational cultures to those where more and more decisions are based on facts and insights. At the same time, optimization continues growing in popularity among top brands and is essential for business success in today’s digital world.
This is the first of a three-part, weekly blog series, which shares optimization best practices for test sample size, desired significance, power, and Minimum Detectable Lift (MDL).
Technology and evolving consumer behaviors are transforming the way people evaluate products and services to the way they pay for the things they buy. As optimization experts, Brooks Bell knows testing is the most effective and reliable way for merchants to determine which marketing strategy – from a specific promotion or targeted message to a unique website element such as a Call to Action (CTA) – will produce the highest Return on Investment (ROI).
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.
For those of you, who attended Click Summit, thank your participation, time, and for being part of an evolving community. For those of you, who missed this premier event, we invite you to mark your calendars for May 7-9, 2018. For all of you, here’s a conference summary with 175 key Clickaways – actionable strategies and tactics your testing and optimization teams can prioritize for implementation in your organization – from all 23 conversations.
Note: This post is relevant if you are building awareness about experimentation in your organization.
Testing and optimization are moving targets today. Digital marketing continues to evolve, communication channels mature, and technologies change. As the president of Brooks Bell, I work with world-class marketing teams and digital strategists, helping top brands increase the impact and efficiency of their testing programs. A common question I come across is: “How do I change our company culture so everyone embraces experimentation?”
I believe good things come from ideas. Ideas come from knowledge and experience. Knowledge comes from the incremental accumulation of many small insights, openly sharing experiences and creative thinking.