Brian Solis, principal analyst and futurist at Altimeter (the digital analyst group at Prophet), is an award-winning author and sought-after keynote speaker. Solis has worked with many leading brands, start-ups and celebrities to help them develop innovative digital strategies for a 2.0 culture.
Marketplaces are incredibly powerful. They are taking every aspect of our economy by storm and changing how goods and services are discovered, priced and delivered. They work for everything from digital goods to food and lodging to getting a great massage at home! And once they have achieved liquidity, their strong network effects make them hard to displace and hyper-scalable.
It’s no secret that CMOs struggle to measure the impact of marketing, especially high level metrics like return on investment (ROI). In spite of the explosion of MarTech solutions (3,874 at last count) and the tectonic shift to digital that we all thought would make measurement significantly easier, it’s still hard. We have more data. We have more technology. But we don’t have any more insight into how all of the MarComm pieces roll up into real business results.
To create a culture around testing and experimentation, you have to build from the core of your organization. Incorporate experimentation into your regular processes, and your team will build a strong habit of testing. The more procedural experimentation becomes, the more people will be ready and able to test.
In this article, we’ve highlighted the steps of building an experimentation culture, so you can continuously create great products as a team through iteration.
Nokia CEO ended his speech saying this “we didn’t do anything wrong, but somehow, we lost”. Nokia has been a respectable company but they missed out on learning, they missed out on changing, and thus they lost the opportunity at hand to make it big.