April 3, 2019
Stop the Guessing and Determine Your Success Metric
Information gained from offline A/B testing drives businesses and enables companies to make more profitable decisions. Despite the benefits, some companies have yet to create a culture of testing. Sometimes it’s for fear of the expense, or maybe because a company can’t see the value in A/B testing, or perhaps it’s because a company simply hasn’t figured out how to go about it.
Whatever the reason, using A/B testing to gather data and make informed business decisions is pivotal to staying competitive in the shifting retail and service landscape. Nurturing a culture of testing within companies can put them a step ahead of their competition and drive growth and profits.
The Essential Components
Change is a process, and business leaders who want to transition their decision-making tactics to include the use of data and information will need to offer a clear plan to make that change happen. In order to build a sustainable culture of testing, business leaders will need to start with three essential components:
- Executive buy-in
- Dedicated resources
- Systematic support
The implementation of A/B testing needs to be driven from the top down. Executives need to be educated and made aware of the benefits and profitability that testing can provide. Often, these executives will be the ones who need to make decisions based off of the information gathered from the A/B testing process. If the initiative doesn’t have executive support from the beginning, employees be less likely to use it.
The implementation of testing also requires dedicated resources, which means budget and labor need to be properly allocated. The correct tools and applications also need to be supplied to offer the needed systematic support that A/B testing requires.
MarketDial’s A/B testing platform makes it easier for businesses to gather, interpret and use data—which reduces the guesswork behind decisions. Businesses that use MarketDial to plan, design, implement and assess A/B testing information have been able to:
- Enable decision makers to balance data with previous industry knowledge
- Empower team members as they know they can drive decisions through hypotheses testing
- Rely on data when it outperforms competitors and expectations
How MarketDial Does It
Businesses no longer have to hire a small group of data analysts or expand their IT department to connect their analytical superpower to front-line decision making. Now players from different departments in a business can utilize MarketDial’s offline A/B testing solution to make tactical decisions and increase the company’s bottom line.
Companies that use MarketDial’s software and expertise can:
- Commit to and direct the business to base decisions on data derived from testing.
- Decide what to measure and how to measure it so that the metrics help decision-makers alter behavior, analyze past results and use data points to figure out success or failure.
- Develop the right metrics for tests and interpreting the results.
If you want to understand how your specific business would reap the multitude of benefits and advantages that MarkeDial provides then make a data-driven decision and schedule a demo with MarketDial today.
Categorised in: AB Testing