An in-depth study of some of Australia’s top CRO programs.
Australia’s first Experimentation Maturity Index shows there’s a growing trend of digital marketers making data-driven business decisions, but few consider themselves mature.Organisations recognise the value of experimentation in digital marketing but only 14% of them consider themselves ‘mature’, according to the results of the Australian Experimentation Maturity Index 2019.The inaugural survey, conducted by digital marketing agency New Republique and supported by software brand Optimizely, has been designed to provide a benchmark for Australia’s emerging experimentation community.“In the last five years we’ve seen an increase in specialised technologies and consultancies focusing on experimentation. While it’s still early days for Australian organisations, we wanted to find out how they were using experimentation and how it affected their business decisions,” said Nima Yassini, founder of New Republique and lead author of the Index.Past research conducted in the US by Optimizely has shown that organisations with a mature experimentation program have a 750% growth rate compared to similar organisations that don’t use experimentation as a standard business practice.Experimentation practices include A/B and multivariate testing and personalisation trials. Organisations with a culture of experimentation use failed tests to increase learning. They also make data-driven decisions with the customer at the centre of product and experience design, which accounts for a significant portion of their success.However, Australia lags behind the US. “In this Australian survey, only 14% of respondents considered themselves ‘mature’. However, 60% of respondents are still building or scaling an experimentation program so we hope that future survey results show progress,” said Yassini.He added: “The Index also reveals obvious gaps in experimentation practices, gaps that can be filled with the right people, technology and processes. Having data like the Index can help marketers make a case for better resources within their organisations.”Key findings:
Larger enterprises tend to have more mature experimentation programs than small and mid-sized organisations.
60% of organisations rate experimentation as ‘an important part of the marketing mix’.
37.8% of experimentation programs suffer because there is not enough support from within the business.
The drive to ‘increase leads/transactions’ (76.7% of respondents) and ‘optimise the customer experience’ (69.9% of respondents) were the two most popular reasons for implementing an experimentation program.
64% of organisations intend to invest more in experimentation in the future.
A sample of the Australian Experimentation Maturity Index 2019 can be Requested here.To access the 43 page report, contact New Republique by clicking here