5 Experience Predictions for Retail in 2019
In the retail industry, one that’s known for its ability to continually reinvent itself and find new ways to connect with consumers, the huge shift in consumer behavior from physical...
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Digital-first companies like Google, Uber and AirBnB have become famous for the speed and efficiency with which they’re able to innovate. When faced with many potential opportunities for improvement, these companies explore each one, testing many ideas in tandem in order to accelerate learning and growth.
Facebook offers an example. In the past week alone, they announced five significant improvements — all the way from new video formats to changes to the famous “like” button — that are being tested with small groups of customers. These tests serve as low-risk opportunities to measure each offering’s real-world impact — allowing Facebook to identify opportunities for refinement, separate successes from failures, and make informed decisions about how to move forward.
And that’s just what they’ve done this week. Consider that companies like this are launching similar tests all the time, and you’ll begin to understand just how quickly and efficiently they can develop innovative ideas.
For large, established companies, this level of agility can feel impossible. Their size and complexity tends to hobble innovation processes, forcing them to focus on a few large ideas that take time to develop and whose ultimate impact is hard to predict.
But that doesn’t have to be the case.
In recent years, certain established companies have found a way to use their size to their advantage, turning their organizations into engines for fast, efficient experimentation and learning. As a result, they’ve become more agile, more creative, and better at driving improvement across all areas of their customer experience. And they’re doing so in a way that confirms what research tells us about how companies can become radically more innovative.
We’ve just released a whitepaper on this subject, which covers research on drivers and obstacles to innovation, successes from leading companies, and practices any company can use to drive broad experimentation and learning across their entire customer-facing organization. You can check it out right here: http://www.medallia.com/resource/innovation-at-scaleturning-size-into-an-advantage-for-customer-experience-innovation/