Optimization and Growth Part 6: High-Velocity Growth
Published: May 31, 2017
Author: Jeremy Epperson
This blog is Part 6 of a six-part series where we will walk through our Foundational Principles of Optimization and Growth, aimed at giving you the confidence you need to implement an optimization program across your organization. Each blog summarizes one of the principles; for a much more in-depth look at each, you can download our white paper where we provide additional examples, stories, and detail to help get you started.
Part 6: High-Velocity Growth
The final principle we’ll cover in this blog series is high-velocity growth. There is a strong positive correlation between testing velocity and business growth. As we walk through our final principle, we’ll uncover how to structure your process to move as quickly as possible:
Minimum Viable Product Mentality
The first thing you have to do is overcome your desire for perfection. One way to do this is to adopt a Minimum Viable Product (MVP) mentality. An MVP is the smallest amount of effort possible for the largest impact. In other words, how can you be as efficient as possible with your time and resources for the largest payoff? MVP is a mindset that must be adopted to help you work in short, iterative cycles rather than long, exhaustive projects.
There are only two potential outcomes to a properly structured test: either the test validates as a lift in performance, or the test fails to validate as a lift in performance. Every test, whether it “wins” or not, should provide an insight that drives your business forward. We prefer to categorize these outcomes separately from just win or lose to help frame the optimization mindset:
- Results: A test validates, and you push it live to your site to take advantage of the improved conversions;
- Research Insights: A test fails to validate as a lift in performance, but you take the insights to drive future test hypotheses and challenge internal business assumptions.
With this approach, you’ll alleviate some of the pressure of the fear of failure that plagues many teams. Ultimately, we have found this change in approach to lend itself to accelerating testing velocity.
Test Development Workflow
The top leaders in the optimization space have built their workflows based on principles borrowed from lean process improvement and agile development. The ability to streamline your process, move quickly, and be flexible in a fast-paced dynamic environment is key to success for optimization. We’ve listed some of the principles that you can put in place to help your team scale your optimization. We will not go into detail about each one, but you can find more information in our white paper:
- Lean Process Improvement: Lean thinking aims to create more value for customers with fewer resources.
- Agile Development: This practice is based on continual planning, testing and integration.
We use agile development with the goal of turning tests around in 72 hours or less. That’s how fast we are trying to move to maximize our ability to continuously learn and improve.
To view all of the principles, check out our “6 Foundational Principles of Optimization and Growth” white paper where we provide a much more in-depth look into how to build the right culture and process to be successful in optimization.
Even after learning the key principles, the path to optimization will still require trial and error. Want to get moving more quickly? We’d love to help! You can also contact the 3Q CRO team to learn how you can start seeing gains right away.