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According to research from Optimizely, a digital experience platform (DXP) provider, marketers are confident that AI will improve their experimentation practices when delivering relevant content to consumers in the coming years. But there’s a blocker to this success, and the blocker is our culture of experimentation - or rather, the lack thereof. The study from Tested to Perfection: Building Great Experiences with Experimentation and AI gathered responses from 100 UK marketers and 1,000 UK consumers for their views on AI, personalization, and exemplary experiences. According to the study, “The rapid rise of AI offers marketers new opportunities to enhance experimentation and deepen customer connections through advanced personalization.” From the study, we see that between 80-87% of marketers believe experimentation is important for achieving business and marketing goals in 2024, boosting customer engagement, and growing profitability. However, a quarter of marketers (25%) believe their current approach to app experimentation is ineffective, which matches the sentiment that only 42% of shoppers say the online communication they receive from brands feels ‘targeted’ (down from 48% in 2023). How are marketers going to combat this trend of increasingly less effective and targeted marketing by using AI? Experimentation during this era of intense growth for AI-driven solutions will reveal new paths for the use of AI and expand future possibilities as we grow to understand its impact.
Organizations don't test more because of their culture, which often prioritizes efficiency, predictability, and success over experimentation, curiosity, and learning from failure. Shifting to a culture that embraces and integrates experimentation into daily life starts with people. Ironically, the expansion of AI relies on human ingenuity and with 45% of marketers feeling their businesses do not have a culture of experimentation. Other barriers to experimentation can make it off-putting to consider fostering greater innovation. However, only the companies that foster innovation and set up their AI experimentation for success when it comes to areas of compliance will be considered the most advanced in the field of using AI to power their business growth. Do you need a custom solution to manage, monitor, and analyze your team’s culture and efficiency? A developer, helped one company develop a custom solution that boosted their 10% Roi. Reach out to the developer who created the platform to learn more about what solution could help optimize your teams and technology.
From an article titled How Managers Can Build a Culture of Experimentation Business Review, companies should promote innovation and a culture of experimentation by providing space for “small ideas” to gain recognition. Barriers to innovation include hesitation to pursue time-intensive and resource-hogging concepts, however, online channels to ask the right questions make testing small ideas more feasible and inexpensive. The article asserts testing in your organization is “part of an ongoing conversation with your market — a motion picture, not a selfie or snapshot, in a world that never stops changing.” For effective experimentation, you must manage your learnings and how those learnings are applied, as well as taking action on the opportunities presented by those learnings so you can see a distinct ROI. From the article: “the conversations you have with colleagues about your findings should have an impact on organizational decision making.
AI will make organizations 40% more efficient by 2035, leading to approximately $14 trillion (USD) in new economic value to global GDP by 2030, according to PwC. Cybersecurity, privacy and data governance are changing constantly with new developments at the local and global levels released frequently. Consumers' data privacy apprehensions hinder AI experimentation and rollout, amid growing demands for regulation. To address this, transparency in data use is crucial, along with staying current on evolving regulations and considering both legal and ethical implications. Find out about local, federal, and global guidelines and major frameworks for AI systems and data protection to adopt to ensure your company is on the forefront of data and security compliance
