Quantify the ROI of Your Experimentation Program
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How do you measure the financial impact of experimentation on your business? At Optimizely, we’ve built a new ROI model that enables you to calculate the potential ROI of your experimentation program. In this session, you’ll learn how organizations such as The Venetian Casino Resort Las Vegas rigorously quantify the value of their experiments using ROI modeling, and how you can get started with this technique. In this session you’ll learn: - How The Venetian Resort created an ROI model to quantify the value of experimentation - How to get started quantifying the ROI of experimentation at your company with Optimizely’s model - How to avoid common pitfalls in your attribution strategy and in quantifying impact across multiple experiments
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Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
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Looking to buy verified PayPal accounts? Discover 7 expert tips for safely purchasing a verified PayPal account in 2024. Ensure security and reliability for your transactions.
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USA WEB MARKET is the Best Verified PayPal, Payoneer, Cash App, Skrill, Neteller, Stripe Account and SEO, SMM Service provider.100%Satisfection granted.100% replacement Granted.
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Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
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Quantify the ROI of Your Experimentation Program
- 1. Congratulations to our Outperform Award Winners! Most Dramatic Business Impact Most Customer- Obsessed Company Culture Most Transformative Innovation Most Inspiring Social Impact
- 2. • Welcome to Opticon! • Sessions today will be recorded and will be available after Opticon • Join the conversation on Twitter at #Opticon19 • We want to hear from you! Give feedback and rate sessions on the mobile app
- 3. Chris Darner VP Product, The Venetian Casino Resort Las Vegas Jeff Blettner CRO Strategist, Tinuiti Kate Nichol Director, Optimizely Success Programs Quantifying the ROI of Your Experimentation Program
- 4. 4 Value Journey Model Building a Team to Accelerate Success
- 5. 5 Optimizely Delivers ROI + Value Learn before you launch Reduce risk Drive innovation Competitive advantage Financial Model Revenue Core Metrics ROI Value
- 6. 6 Definitions Attribution - The action of regarding something as being caused by a person or thing. Attribution Model - The rule, or set of rules, that determines how credit for conversions assigned to touchpoints in a conversion paths. Value - the regard that something is held to deserve; the importance, worth, or usefulness of something. ROI - Return on Investment. Return - A profit from an investment. ROI Model - This is a mathematical model, designed to represent the performance of a business, or a project where the output is shown as a return on investment.
- 7. Why is ROI Modeling Important?
- 8. 8 RESOURCE JUSTIFICATION The Value of ROI Modeling EVIDENCE OF VALUE SUCCESS TRAJECTORY PRIORITIZATION QUANTIFIABLE REVENUE
- 9. Venetian Casino Resort ROI Model Journey
- 10. Build a team Align with corporate strategy Bring perspective to the business Create visibility Reinforce the program value Collaborate and refine ROI Journey The Venetian’s experience developing a model
- 11. Aligning ‘Global Product KPIs’ Bootstrapping Backfilling Housekeeping Evaluating and adjusting the model Reducing overhead Overcoming Challenges The Venetian’s experience developing a model
- 12. 12 Common Pitfalls in ROI Modeling VALUATION WEIGHTING PROJECTION EFFICIENCY VISUALIZATION OVERLAP
- 14. 14 Optimizely’s ROI Model Supported by your data! Foundational Approach Rooted in logic and math Transparent Flexible
- 15. 15 Model Drivers 1. Metric Alignment 2. Time-Horizon Discount 3. Intangible Discount
- 16. 16 Optimizely’s ROI Model: Metric Alignment Connect to Organizational Strategy Focus on Business Outcomes (purchases, ads, subscriptions, leads etc.) Attribute financial value
- 17. 17 Optimizely’s ROI Model: Time-Horizon Discount The Novelty Effect Diminishing Returns Forecast Adjustment
- 18. 18 Optimizely’s ROI Model: Intangible Discount Landing Page Product Page Shopping Cart Checkout experiment A experiment B
- 20. Come visit us at the Booth! To sign-up to receive your custom model and 1:1 getting started session!
- 21. Q&A
- 22. Thank you!
- 23. Head to the Expo Hall for a quick break and say hello to our sponsors Up next…hear from our panel at Accenture how inclusion and diversity fosters growth