In today’s uncertain economic environment, strategies and tactics that were effective in the past likely won’t work anymore because how we drive revenue and demand changes with the market.
Deploying intelligent experiments quickly is one way that leaders can uncover new areas of opportunity, update their strategies, and mitigate their overall risk. The best go-to-market teams in the world have already mastered developing and implementing timely experimentation.
On April 6th, our CEO Asad Zaman hosted a webinar with two leaders who are experts at deploying rapid sales experiments: David Sevitt (CRO of Giftagram) and Adam Fremes (CRO of Procurify).
Watch this session to learn how to better: frame your mindset, develop the type and length of your experiments, determine the success criteria, and establish best practices for reporting on your findings. You’ll also learn how to use experimentation across other go-to-market functions, including partnerships and business development.
Takeaway 1: Experiments won’t likely be successful every time, and creating a culture of safe experimentation is one of the most important things revenue leaders can do. Setting the expectation and championing this creates a culture in which people feel safe to take risks. And, if most of your experiments are succeeding, you might not be thinking ambitious enough.
Takeaway 2: There are many levers you can use when designing experiments to improve productivity and revenue growth. First, look at the data and listen to your customers to pick out three to four areas that can move the needle. Then, experiment with what can give you the most upside, like conversion or your pipeline. This example from David highlights key thought processes that go into designing an experiment.
Takeaway 3: Those who are resourceful, quick on their feet, and comfortable with ambiguity and working through challenges in new ways should be the ones running these experiments. Also, people who can lead through influence are the ideal contenders, since you’ll need cross functional alignment to ensure you can action your findings at scale.
Takeaway 4: Market climate should be considered when running your experiments. In our current market downturn, Adam suggests looking for the single metric that you want to impact the most (for his team, this was churn) and then make a hypothesis and experiment structure to go about solving that.
Takeaway 5: ChatGPT can be a great tool to experiment with. It can be used to generate messaging and positioning tactics which you can then combine with your own authenticity. Companies with large data sets can also feed CRM data for a client to ChatGPT, and then use it to generate more targeted messaging that is specific to that client.