Freedom to innovate: VIP at Change Forum 2019
VIP was proud to sponsor February’s Change Forum, where our friends at News UK brought together established media businesses and startups in London, to speak candidly about product design and development.
Speakers from the BBC, The Times, Netflix, Lego and here at WordPress.com shared lessons learned about audience engagement and growth whilst leading product teams.
The common thread across all the day’s presentations was an acknowledgement that a steady flow of new ideas and perspectives was essential to the continued success of a modern business. Teams at one startup were expected to carry out five experiments every single month.
Data, experience and intuition were all of limited value in predicting which ideas would ultimately move the needle. Several speakers described lengthy or expensive processes which yielded little; whilst tweaks taking only a few hours could have a remarkable impact.
And sometimes, as our colleague David Kennedy explained, ideas expected to deliver one benefit could produce greater gains in another, unexpected way. David’s passion is accessibility in design. He cited the example of NPR, who began posting transcripts of their audio broadcasts to aid accessibility – and saw a significant increase in traffic and user engagement, through the text content’s greater search engine friendliness.
Jonas Huckestein, co-founder of UK banking disruptor Monzo, confessed that the company’s success had been built on trying things, seeing which ones worked, and keeping on doing them. They spent months developing a peer-to-peer payment function, which was a total flop. But a simple ‘golden ticket’ function, to let friends of existing customers jump up the waiting list, drove steady weekly growth for many months.
Customers loved it when Netflix began sending out brand-new movies on the day of the DVD’s release; but it only reduced customer churn by a tiny amount, so they canned the initiative.
Conversely, when faced with the dilemma of whether to notify customers about the imminent expiry of their initial free trial, Netflix decided to do the ‘right thing’, and send out reminders. It naturally reduced conversion rates, costing the company tens of millions in revenue; but they decided it was good for the brand… and easy to reverse.
How to decide if an innovation was successful? It depended on what you had hoped to achieve, the data you considered, and who was making the decision. Your CFO might take one view; your community of users, or readers, or consumers might take another. It’s for the culture of the company to decide whose view matters most.
With VIP’s roots deep in the WordPress open source community, these conclusions rang true to our own experience. We believe that the freedoms to innovate on top of WordPress, to share your ideas and efforts with the world, and to choose from many solutions already in circulation, are key factors in the continuing growth of WordPress.