Experimentation has always been an important marketing tool. While highly effective in delivering enhanced business results, it has in the past been difficult and excruciatingly slow. The Internet has changed all that. No marketing medium in history has been as well suited to experimentation than e-commerce.
Nexperiment™ is radical, discontinuous advance for e-business marketers. It harnesses the power of experimental methods to “test and learn” how to increase customer response in e-commerce. Capturing causality rather than simple correlation, it allows you to test how customers will react to your offers, prices, promotions, advertising—yielding prediction rather than post mortem.
How does it work?
Nexperiment applies rapid “test-and-learn cycles” to assess actual customer response to a universe of stimuli presented in e-commerce sites (emails, banner ads, offers, prices, and promotions.)
The technology
At the core of Nexperiment are experimental designs embedded into e-marketing campaigns, Web sites, and the stimuli presented to customers. Statistical response models then reveal behavior of customers in response to thousands or even millions of combinations of different stimuli. Favorable combinations of stimuli (price, promotions, etc) are then rolled out.