The best businesses use experimentation to make them stronger.
Managing the risk of new technologies can be daunting. Prior to giving everything we have (effort, time, and money) to new theories, we should challenge ideas, strategies, and new tools on a testing ground.
Technology can now be used to take on the heavy lifting of this champion challenger thinking including:
Understanding What to Test – Follow Key Performance Indicators (KPIs) to understand where struggles are happening and what could be improved
A vs B Comparison – Randomize the control vs experimental of A vs B account assignment
Test Group Size & Duration – Know how many accounts need to be in the test group for an accurate sample size and how long to run a test to acquire statistically proven conclusions
Tracking Results – See results side by side and understand whether the tested strategy or tech would bring positive outcomes
Experiments you could run could test:
Language included in a text or email message
Settlement offers for consumer adoption
Messaging on your payment portal to invite scheduling secured payments
Communication methods for payment reminders
Timing of unattended outreach campaigns to drive portal traffic
By experimenting with new concepts using a champion challenger method, you can determine what ideas, strategies, and technology are most profitable and save yourself a lot of pain and expense.
If you would like to take advantage of champion challenger abilities, please ask an Intelitech associate about OPTIQ at email@example.com.