Download our 2024 Trends Report to read more UNRVLD predictions for the year ahead.

In 2024 we predict that brands who focus on establishing and maturing an experimentation programme will see a significantly higher return on digital investment than peers who do not prioritise experimentation and CRO. Around 77% of firms worldwide conduct some form of A/B testing on their websites; generally on the home page. Around 60% say they use A/B testing on their landing pages.

Unify data, design and digital experiences

Data is likely to have been a core focus for your businesses for some time now. This is increasingly shifting from capture to action, putting increasing pressure on your data teams to qualify the quality and utility of the data you are collecting. This is where experimentation should increasingly play a key role in the coming year. It involves unifying data, design and digital experiences to deliver optimal customer experiences across your digital ecosystem. You can start small, achieving statistical significance with as low as 5,000 unique visitors.

Design a clear financial model to deliver experimentation success

To succeed, you will need to mature your approach, methodology and infrastructure to deliver value consistently through experimentation. Design a clear financial model for estimating uplift delivered by each test you implement, through prioritised hypotheses, built on clear baseline metrics and rigorous tracking of actual uplift. This is how experimentation can take you from tactically testing incremental improvements to focusing strategically on your desired outcomes.  

Optimizely analysed 70k experiments last year that resulted in 390 billion impressions - noting a 42% uplift where personalisation was applied. This trajectory is only set to grow in 2024. Improved User Experience (UX) design resulting from A/B testing can potentially boost conversion rates by 400%. 

Prediction

‍Non-stop learning and continuous testing will be embraced more by marketers in 2024. Being brave and creating experiments across your digital channels will be a key to driving real growth. Adopt a comprehensive approach that combines strategic analysis of website data, financial modelling and continuous evaluation. The proof is in the results. By building a well-structured testing programme, you can anticipate paying for a year's worth of experimentation and software licensing within the first 3-5 tests you implement.

Ultimately, experimentation should enable you to unlock a significant amount of additional revenue. However, the key to achieving this is striking a balance between running a sufficient number of tests and ensuring each one aligns with your overarching goal of driving revenue and other key business metrics.

At UNRVLD, we are continuously onboarding clients to experimentation programmes both for ecommerce and engagement. We can help you leverage insight derived from your customer bases, websites, and their wider industries, to create hypotheses for experiments, all underpinned by a financial model with predictions on uplift. These will enable you to move quickly and identify incremental gains across the commerce and customer journey, adding to the revenue and audience engagement generated by other digital initiatives.

 



Download our 2024 Trends Report to read more UNRVLD predictions for the year ahead.