Perfecting the customer experience – both online and in physical stores – is the key to survival for retailers, and the ability of brands to adapt to customer needs is the biggest differentiator for success, according to the findings of The Pulse Report 2020, a national survey run by award-winning, experience optimization consultancy New Republique.
The Pulse Report 2020 is based on the results of the Australian Experimentation Maturity Index and includes feedback from those responsible for digital within some of Australia’s most well-known brands across retail, finance, automotive, travel, and health including Chemist Warehouse, Subaru, P&O, HCF and Fantastic Furniture.
The report shows that in 2020, all organisations reported to be using A/B testing, and 68% used desktop and mobile personalisation campaigns.
However, experimentation has progressed over the last decade from A/B testing to multivariate testing and continues to take shape with evolving organisations more likely to expand their repertoire to include more complex or sophisticated tests, including multivariate testing (63%), A/Bn testing (53%) and server-side testing.
Nima Yassini (pictured left), CEO of New Republique and lead author of The Pulse Report 2020, said, “one of the best ways to accelerate experimentation maturity is through creating a community around the culture and practice.
For the past two years the Index has sought to benchmark how Australian organisations are set up to make data-informed decisions and adapt to changing market sentiments and requirements through the practice of experimentation.
“The practice of experimentation is relatively new but is fast becoming a core digital capability and competitive advantage for innovative, global organisations looking for ways to create or improve their online experiences. Whether that be through tweaking the returns process, customer service technology, payment options or how the home page is structured. Simple changes can deliver triple-double improvements in conversion and satisfaction.”
The report also shows that the more mature experimentation practices are within an organisation, the better equipped that organisation is to adapt to change and create a better experience for customers, which are key drivers to their success.
“Last year brought about significant changes to the way people interact and shop online with some reports stating that the growth in ecommerce across Australia and New Zealand was as high as 107 percent in Q3 2020,” added Yassini.
“What many traditional retailers don’t understand is that ecommerce is more than a website, it’s about ensuring the customer experience translates from physical store to online.
“The battleground for brands is in experience, on and offline, and that’s where experimentation is more valuable than just focusing on conversion.”
Key findings of the Pulse Report 2020 include:
94% of respondents indicated they would maintain or increase their spend on experimentation efforts in the next two years69% of evolving organisations already considered experimentation part of their marketing mix
81% of the most experimentally mature organisations stated experimentation is considered important to transforming the digital customer experience
57% of respondents agreed their organisation is committed to building a culture of experimentation
Download a full copy of the report findings here
About New Republique
New Republique was founded by Nima Yassini and Stacey Isaac and is an award-winning, digital consultancy specialising in designing and optimising the most influential brands in the world with a specialisation in user experience, experimentation (CRO) and personalisation. They help brands adopt a culture of experimentation by teaching and providing them with the expertise, skills, process and tools needed to develop experiences that work.
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