Corey Talking to a Camera About What Smells Like “Testing Spirit”
Featuring Corey Pierson, CEO and Cofounder of Custora
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We know that you're running tests in Google AdWords. We know that you're running tests on Facebook, and you're running tests in all your channels. Subject line tests.
The concept of testing isn't new. What is new, and it's new because it's been a pain in the ass for so long, is testing around these customer metrics. Are we running tests to improve our churn rate? Are we running tests to improve our one-time buyer conversion rate?
Think of the one-time buyer conversion rate, because it's maybe the simplest one to latch on to here for a minute.
The big picture here is: what kind of tests are you running to improve it? How are we running a welcome series?
"How's it doing?"
"Well, it generates million dollars a month in last-click revenue."
"Cool, is that getting better, and is that improving the rate?"
"I don't know. We don't have things set up to actually optimize customer programs."
“Well, because customer data is spread all over the place.”
In your email program, you can measure last-click revenue from your welcome series. Makes sense.
You want to measure one-time buyer conversion. It includes store conversions, it includes online conversions. You can't measure that in your e-mail program.
Not to mention the fact that it's not the welcome series' job alone to help you convert one-time buyers. You want to find the right products, and make sure the products are resonating with the right segments, and then, yes, you want to be doing the right cross-selling, upselling, e-mail, and other channels, but it's a cross-channel, cross-data-silo thing, which historically has been a giant pain in the ass, so much friction.
What do you do? You naturally optimize within the channels. You work on the click-through rates with your Google search, and you work on your last-click revenue and e-mail and so on and so forth.
Now that the world is becoming a little more customer-centric, you have better visibility in customer metrics, and you can run these experiments.
You can take a technology like ours, and you can plug it to your existing stack of disparate tools and disparate data stuff, and you can have a control panel where you can run these customer experiments.
Our goal is to make it as easy for you to optimize your one-time buyer rate and run tests, as it is for you to optimize your Google AdWords spends. But it's a new era. It wasn't really possible before, because you just couldn't get the data together, couldn't launch the campaigns enough, there was no easy way.
All the little steps of assembling the data and then having the predictive models running and integrating it with the channels and automating A/B testing in statistical significance, and incremental revenue measurement, all that stuff. Each of those was a separate project for the analytics team, once upon a time.
Now, there are platforms that bring all that stuff together. It's the difference between optimizing on customer metrics and not. The testing is about using technology to bring the testing spirit over to these more customer-oriented metrics. That's what being customer-centric is all about.