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Banking on Experimentation: Nordnet's test-driven transformation
Nordnet is a leading Pan-Nordic investment platform serving 2 million customers across the Nordics. With a focus on improving customer experience through Personalization and optimization, Nordnet has harnessed the power of Experimentation to continuously evolve its platform. In this edition of 'Customer Confidential', Karsten Franke, Growth Marketing Manager at Nordnet, shares how Experimentation with Optimizely is driving their ability to rapidly test new features, refine their offerings, and ensure their services meet the ever-changing needs of their customers.
Meet Nordnet
Key Points:
- Karsten Franke is Growth Marketing Manager at Nordnet and is responsible for A/B testing and affiliate marketing.
- Nordnet's provides services that help its customers democratize savings and become better investors.
How Nordnet optimizes customer experience with Experimentation
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Key Points:
- Nordnet transitioned from optimizing external marketing to testing on-site experiences, gaining deeper insights into customer preferences.
- Optimizely Feature Experimentation helps Nordnet deliver more tailored content and improve platform appeal.
- Nordnet uses the PXL framework to prioritize tests based on potential impact, accelerating iteration and maximizing value.
Fostering a data-driven, test-and-learn mindset
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Key Points:
- The company has a forward-leaning mindset that embraces testing and iteration as core principles.
- Open communication, a tolerance for failure, and a willingness to share test results are essential to building a strong testing culture.
- Nordnet's success in Experimentation comes from cross-functional alignment between product, marketing, and other teams.
Keep the customer at the center of everything you test, foster open communication, and embrace failure as part of the learning process.
Karsten Franke - Nordnet
Optimizing every release: Nordnet’s Feature & A/B testing strategy
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Key Points:
- Optimizely Feature Experimentation provides a secure environment for Nordnet to test changes on a small group before a full rollout, ensuring safer and more controlled testing.
- By testing in phases, Nordnet can quickly adapt and refine features, making their development process more agile and efficient.
- A/B testing allows Nordnet to measure real impact, such as improved conversion rates and smoother customer onboarding.
How Nordnet’s testing culture strengthens decision-making
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Key Points:
- Nordnet tested an animated video background against a still image on their main start page, challenging the common assumption that still images perform better for conversions.
- Experimentation has improved Nordnet’s internal discussions by shifting the focus from opinions and beliefs to data-driven decision-making.
The role of Experimentation in Nordnet’s award-winning mobile app
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Key Points:
- Optimizely enables Nordnet to test app functions, features, and design, allowing for fast iteration and improvement based on customer feedback.
- Mobile app segmentation differs from web, as Nordnet can’t segment by country but can test features with staff before wider release, creating an engaging internal testing culture.
- Experimentation has also increased internal engagement, making testing a more interactive and uplifting process for employees.
It was really fantastic to see how the product was then worked and embraced by the colleagues because they could see these activities and engage with it. It made it so much more enjoyable for everyone.
Karsten Franke - Nordnet
Nordnet’s vision for the future of Experimentation and Personalization
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Key Points:
- Nordnet is focusing on advancing its testing culture, with an emphasis on Personalization.
- Personalization will require increased cross-functional collaboration, driven by AI, to deliver tailored services to customers in an integrated way.
- For Nordnet, the key to success in Experimentation is having strong leadership support, embracing a data-driven approach, and fostering a culture that actively embraces testing.
Conclusion
Nordnet's commitment to innovation and its data-driven approach has been instrumental in enhancing its mobile and web platforms, allowing the company to provide an exceptional customer experience. By integrating Optimizely’s experimentation tools, Nordnet has been able to rapidly test new ideas, iterate quickly, and make more informed decisions, ultimately boosting customer satisfaction.
Bransje
Financial services