Retail is a hotbed of technology disruption. In this volatile marketplace, a high-profile consumer brand was looking to build direct-to-consumer relationships using rapid experimentation, while also generating new revenue streams.
Business Outcomes
Rapid/Agile Experimentation
Lean concepts like minimum viable products, perpetual beta and design sprints enable organizations to operate in an agile way. CoStrategix brings strategy and speed to these initiatives, helping large Fortune 500 organizations like this multinational consumer goods corporation to operate more like startups.
Low Cost Innovation
To stay competitive, organizations must innovate with rapid test-learn-scale cycles. But without a strong digital partner, costs can quickly climb. CoStrategix developed a platform that gives brands the freedom to improve how consumers connect with, buy and consume their products. Brands can focus on business context while relying on the platform to simplify the technology setting, scaling traffic, content management, order fulfillment and payments.
Data Analytics On Cloud
Test-learn-scale cycles rely heavily on cloud services, and user tracking and analytics. CoStrategix brought our client the power of the cloud, which allows the technology platform to scale as needed, keeping costs contained, and providing insights that shape the experiment in a continuous manner.
For years, our client has been a highly regarded consumer products company. But like every business, digital disruption was challenging their position, compelling them to shape their business models for today’s digital age.
In the fast-moving retail industry, gathering insights and connecting with customers has to happen quickly. But our client’s existing processes weren’t designed for the speed of digital, and technology was an afterthought. This meant high experimentation costs and slow-moving insights.
CoStrategix was working on a related project with the client when we uncovered this need. We presented an idea for a rapid experimentation platform that allowed brands to experiment faster at a much lower cost. Once the solution was vetted, we created an implementation blueprint, then took the platform through the development life cycle. We incorporated cloud capabilities, along with a user-friendly interface to empower the brand team.
The outcome was a rapid experimentation platform that provided much-needed data-driven insights for brands to shape consumer engagement models and stay relevant in the crowded marketplace. We reduced the cost of experiments by 78 percent and increased speed by over 300 percent.
