Are you tired of marketing strategies that yield lackluster results? Are you ready to break free from the chains of conventional approaches and embrace the power of experimentation in marketing?
In this Predictable B2B Success episode, we dive deep into the fascinating world of running experiments to drive growth and profitability. Joined by guest expert Andres Glusman, co-founder and CEO of Do What Works, a platform that helps growth leaders acquire more customers. We uncover the secrets to getting more wins more quickly, with less effort.
This episode explores the importance of experimentation in the B2B sector and how it can be a game-changer in driving success. Glusman shares his insights, drawing from his experience in launching successful ventures like Meetup and his background in behavioral science.
Get ready to learn how even small conversion rate improvements can profoundly impact your business. Experimentation in marketing is about to change the game. Tune in now!
Watch the episode
About Andres Glusman
Andres Glusman is the co-founder and CEO of Do What Works, a platform dedicated to helping growth leaders acquire more customers. With a background in behavioral science and experience launching successful ventures like Meetup, he understands the power of running experiments to drive growth. Andres believes in the importance of setting realistic expectations and maintaining a growth mindset, even in the face of challenges. He is passionate about leveraging data and scientific methods to learn and make changes, ultimately driving behavior change. Andres is dedicated to helping companies achieve predictable B2B success through effective experimentation and learning.
Unlocking the Potential of Experimentation in Marketing:
Experiments may seem insignificant, but they can have a profound impact when successful. Glusman emphasizes that even small improvements in conversion rates can significantly drive more volume and make a company more profitable. A 10% or 15% lift in conversion rates can make all the money spent on acquisition more effective. However, Glusman cautions that getting experiment results takes longer than most people think. Setting realistic expectations and understanding the game being played to maximize success is important.
The Objective of Experimentation:
Experimentation is crucial to growth marketing and essential for learning and growth. Glusman explains that experimentation aims to test different things and learn what works and what doesn’t. It’s about having a growth mindset, focused on learning, and seeing failures as opportunities. This mindset is crucial for successful experimentation.
Learning from Failures:
Glusman believes in the lean startup movement and using scientific methods in product management to learn and make changes. He argues that the ultimate aim is to learn and drive behavior change. The podcast highlights the importance of learning from failures and seeing them as opportunities rather than failures. This mindset is essential for continuous improvement and driving success through experimentation.
Running experiments for B2B companies can be challenging, especially with limited traffic compared to consumer companies. Acquiring and retaining subscribers is a common challenge for B2B and B2C subscription-based businesses. However, Glusman believes that B2B SaaS companies, with the right approach, can still run effective experiments focused on acquisition.
Building a Culture of Experimentation:
According to Glusman, an organization’s willingness to embrace experimentation depends on its culture. He suggests that developing a culture of experimentation requires generating early wins to build momentum and buy-in from employees. He shares an example from his experience at Meetup, where early wins in experiments positively impacted revenue and company operations. Without early wins, it is unlikely for experimentation to take root in an organization.
Using Technology to Boost Experimentation:
Glusman’s company, do what works, has developed a platform with patented technology that can detect experiments being run by any company. This engine looks at over 1,600 companies daily and analyzes 1 million data points. The platform helps users make decisions by identifying patterns and determining what experiments are winning or losing. It also offers professional services that provide recommendations based on patterns seen in the data. Glusman emphasizes that their goal is to help people get more wins quickly with less effort.
Making the Most of Experiments:
Various technologies and platforms have made executing experiments easier and more efficient. Individuals within an organization can now execute experiments on their own or more quickly than before. However, Glusman highlights that the strategy aspect of running experiments is still challenging. Launching in a way that drives desired results and identifying the most promising variables requires careful consideration. Even large companies are limited in the number of experiments they can run due to the need for sufficient traffic to generate significant results.
Experimentation: Fueling Growth and Maximizing Success
Andres emphasizes that running experiments, even seemingly insignificant ones, can bring about profound changes. Small improvements in conversion rates can drive more volume and make a company truly profitable. A mere 10% or 15% lift in conversion rates can optimize the money spent on acquisition. However, he cautions that patience is key, as results may take longer to materialize than initially anticipated. Setting realistic expectations and understanding the intricacies of the experimentation game is integral to maximizing the success of a growth marketing strategy.
Key Takeaways from the Episode:
1. The Importance of Experimentation:
Experimentation is crucial for learning and growth. Companies can discover what works and what doesn’t by testing different approaches and strategies. Andres argues that experimentation should be an essential part of a growth mindset.
Actionable Takeaway: Implement a culture of experimentation within your organization. Encourage teams to test hypotheses, learn from failures, and view setbacks as opportunities for growth.
2. Leveraging Data and Judgment:
Before running experiments, it is crucial to use good judgment and effectively utilize data. Understanding human behavior through the lens of behavioral science allows for informed decision-making and maximizes the use of time and resources.
Actionable Takeaway: Invest in data analysis tools and leverage your insights to inform your experiments. Combine data-driven decision-making with the expertise and judgment of your team members.
3. Learning from Failures:
Failure should be seen as a stepping stone to success rather than a setback. Andres believes in the lean startup movement and scientific methods in product management that facilitate learning and drive behavioral change.
Actionable Takeaway: Foster a culture that embraces failure as an opportunity to learn and iterate. Encourage team members to document and share what didn’t work, creating a continuous learning and improvement culture.
4. Focus on Early Wins:
Generating early wins is essential to build momentum and employee buy-in. Andres shares his experience at Meetup, highlighting how early wins in experiments positively impacted revenue and company operations.
Actionable Takeaway: Identify quick wins that can demonstrate the value of experimentation. Use these successes to garner support from leadership and colleagues, making experimentation a core part of your organization’s growth strategy.
5. The ICE Model:
The ICE (Impact, Confidence, Effort) model is a framework for prioritizing experiments. Reach and user engagement play a significant role in running experiments, while effort should align with desired results. Increasing confidence in experiments is key to maximizing their impact.
Actionable Takeaway: Implement the ICE model within your organization. Prioritize experiments that have a high potential impact, high confidence level, and reasonable effort required. This framework will help you focus resources on the experiments most likely to drive results.
6. Recognizing Diminishing Returns:
Knowing when to persist with an experiment or pivot is crucial. Continually evaluating experiments and recognizing diminishing returns will help you allocate resources effectively.
Actionable Takeaway: Regularly assess the progress and results of experiments. Be willing to shut down experiments that don’t show promising results and redirect efforts toward more promising areas.
7. Utilizing a Platform for Insight:
The Do What Works platform provides valuable insights for decision-making, allowing users to explore experiments being run by peers or competitors. The platform offers recommendations based on data patterns, enabling growth leaders to make informed decisions.
Actionable Takeaway: Consider leveraging platforms like do what works to gain insights and confidence in decision-making. These tools can help you identify winning strategies, generate ideas, and have meaningful conversations with your design team.
Experimentation in marketing is a fundamental aspect of driving predictable B2B success. By embracing a growth mindset, focusing on learning, and viewing failures as opportunities, businesses can harness the power of experimentation. The insights shared by Andres Glusman in this episode provide actionable takeaways that can be implemented to optimize your experimentation efforts. By leveraging data, combining judgment with scientific methods, and fostering a learning culture, you can accelerate your growth, acquire more customers, and achieve predictable B2B success.
Some areas we explore in this episode include:
- The impact and importance of running experiments to drive growth and profitability.
- Setting realistic expectations and understanding the time frame for getting results from experiments.
- The role of judgment and data utilization in maximizing the effectiveness of experimentation.
- The background and experience of the guest, Andres Glusman, in launching successful ventures and working on customer acquisition.
- The need for a growth mindset and seeing failures as opportunities for learning and improvement.
- The concept of the lean startup movement and using scientific methods in product management.
- Strategies for breaking up experiments into smaller chunks and focusing on one fundamental idea at a time.
- Recognizing diminishing returns and knowing when to persist or move on to other strategies.
- The importance of cultural buy-in and early wins to establish a culture of experimentation in organizations.
- The challenges and opportunities of running experiments in the B2B SaaS industry.
- And much, much more.
Listen to the episode
Related links and resources
- Check out Do What Works
- Learn from Paul Rakovich – How to Run Marketing Experiments The Right Way to Drive Growth
- Learn from Dejan Gajsek – How to Use Competitive Intelligence to Win Bigger Deals And Scale Growth
- Learn more from Robbie Phoenixx – How to Harness Competitive Intelligence For Creative Business Solutions
- Discover more from Itai Amoza – Transforming Buyer Engagement: How to Boost Sales and Supercharge Revenue Growth
- Learn from Anna Harrison – How to Boost Your Brand Message And Drive Growth With Data-Driven Insights And Customer Empathy
- Learn from Katrina Klier – How to Drive Growth by Using Thought Leadership For Lead Generation
- Learn from Niklas Hartmann – From Guesswork to Precision: How to Identify B2B Influencers to Drive Growth
- Check out the article – The Smart CIO’s Guide to Tech Thought Leadership: Boost Your Influence
Connect with Andres
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