One of the most important concepts I have learned in the Online world is the concept of “failÂ fast“.
This is about â€œRisk vs. Rewardâ€ and managing your companyâ€™s resources efficiently: So whenÂ someone sells you a project â€“ internal or vendor â€“ it requires you to ask yourself â€œHow long will it take to get to a measurable result?” and “What are the resource and opportunity costs of doing this?â€ In other words, what else can your team NOT do while resources are tied to this project?
That’s why every business that wants to succeed in ‘Online’ should practiceÂ A/B testing,Â Agile Product Development and work with the concepts of MVPs (also for Enterprises), MDPs or – my personal favourite:Â RATs. They all serve the same purpose: Not all projects will succeed. So better find out faster, cheaper, reiterate and win incrementally. Or, in the words of Fred Brooks: There is no silver bullet.
(PS: Longtail UX for SEM takes just one day for your IT team to set up and delivers measurable results within two weeks – achieving an AdWords ROI increase of up to 50%)