Optimizely Experimentation Platform Generates Up to $ 9.7 Million in NPV and $ 1.5 Million in Savings, According to Independent Consulting Firm’s Total Economic Impact Study | New
NEW YORK – (BUSINESS WIRE) – November 23, 2021–
Today, To optimise, a leading provider of digital experience platform (DXP), revealed the results of a Total Economic Impact â¢ (TEI) study conducted by Forrester Consulting on behalf of Optimizely. The study found that over three years, a composite organization achieved a return on investment (ROI) of 286%, nearly $ 9.7 million in net present value (NPV) and $ 1.5 million in cost savings through increased developer productivity and improved site performance through deployment of the enterprise experimentation platform. To help arrive at an average ROI and subsequent financial analysis, Forrester Consulting interviewed five decision makers at four Optimizely clients using the company for experimentation.
Prior to implementing Optimizely, respondents relied on their intuition to make customer experience (CX) decisions or adopted testing tools that lacked the flexibility and power to perform the required tests, resulting in a lack of confidence in data across the organization. When organizations regularly tested their ideas with Optimizely Web experimentation and Full stack experiment solutions, development teams have identified and invested in those that would have the greatest positive impact on engagement and conversion while avoiding those that could have a negative impact.
âCreating strong digital experiences requires an approach driven by experimentation and data-driven decisions, as well as a commitment to constant innovation,â said Justin Anovick, Chief Product Officer of Optimizely. âThe Forrester TEI study highlights that customers using our experimentation platform see real and demonstrable return on investment and impact on their bottom line, as well as unquantifiable benefits, such as creating a culture of continuous innovation and improvement of digital experiences.
Among the key findings identified in the study, Forrester found that customers were able to easily document conversion changes through a better user experience (UX) and avoid changes that would have a negative impact, which resulted in resulted in improved site performance and $ 9.7 million in additional profits. In addition, Optimizely has resulted in savings of $ 1.5 million through increased developer productivity, not only by easing the burden of coding the team’s front-end testing with the web version of the platform. experimentation, but also making the coding process easier with the full stack tool. Finally, the study highlighted $ 1.9 million in savings on subscription fees thanks to retired tools.
According to the director of R&D analysis of an automotive company included in the maintenance process, âone of the first tests [we] did was to test the titles on our homepage. The winner of this test generated more annualized value than the cost of the tool.
Forrester’s assessment identified other benefits of Optimizely’s experimentation offering, including better decision making through increased confidence in the data. Specifically, the study states: âThe transparency of data from experimentation with Optimizely and the ability to clearly link it to improving business performance gave respondents a powerful tool to demonstrate impact. that data-driven decisions might have on their organizations â.
To learn more, download a free copy of Optimizely’s TEI study.
At Optimizely, our mission is to help people unleash their digital potential. Through our Digital Experience Platform (DXP), we equip teams with the tools and information they need to create and optimize in new and never-before-seen ways. Now, businesses can operate with data-driven trust to create hyper-personalized experiences. Building sophisticated solutions has never been easier. Optimizely’s more than 900 partners and more than 1,100 employees in offices around the world are proud to help more than 9,000 brands, including Toyota, Santander, eBay, KLM and Mazda, enrich the value of their customers , increase their income and develop their brands. Learn more about optimisely.com.
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PUB: 23/11/2021 09:57 / DISC: 23/11/2021 09:57
Copyright Business Wire 2021.