Reasons to be optimistic about the future of consumer experiences
Index partner Ilya Fushman on why we are investing in Optimizely.
Like most of you, I experience great delight when I go to my coffee shop and they get my order just right because I’m a regular. I love it when I turn on Netflix and immediately see the movie I’ve been meaning to watch, or get an exciting product recommendation when I’m shopping on Amazon. Every internet company should be as personalized to their customers as these. But understanding what people want, and customizing experiences for them is complicated. You need to know your customers personally or have a lot of data about them. On top of that, doing this right is truly a technical feat. The challenge is that not every technology company can provide such a tailored service, but customers would be more satisfied and engaged if they did. Optimizely is helping all companies build custom personalized experiences that make their customers happy.
From it’s inception, Optimizely’s goal was to empower non-coders to produce ever-improving websites and apps. They make it possible to quickly spin up different versions of your website or app and figure out the best ones -- no coding required. The results for their customers are double and even triple digit percentage improvements in key metrics such as revenue, user growth, and engagement. Optimizely puts the power of Amazon and Netflix in your hands, so that you can make your product just as smart without having to hire hundreds of engineers and data scientists.
What drew us to founders Dan Siroker and Pete Koomen, was not just the magnitude of their vision or the impressive growth that Optimizely has seen, but their relentless focus on the end user, product simplicity, and delivering the most statistically rigorous results. Along the way, they’ve built an incredible team and culture. Their approach to product resonated with my personal experience of building Dropbox for Business, where our focus on the best possible user experience drove people to bring Dropbox with them to work and led to adoption in larger and larger enterprises. The exciting thing is that Optimizely is seeing this as well. Companies such as CNN, Priceline, and Virgin America, for whom optimization and testing are key, have adopted the product.
But the future of how we build products and communicate with our customers is even more exciting. I saw the advantages of this first-hand at Dropbox. We focused heavily on really understanding who our customers were, how they interacted with their customers and how they could use our product most effectively. That knowledge allowed us to build tools that made our marketing and sales teams highly efficient and helped customers get more out of our service. The ability to follow customers through every step of their journey and bridge marketing, support, sales, and company user data, will enable companies to not only provide optimized experiences, but experiences that are personalized and responsive to each individual user. With their launch of their new Personalization product, Optimizely is taking the first step in this evolution.
At Index Ventures, we envision a new frontier in building custom experiences, and are excited that Optimizely is going to be a major driving force in this evolution. That’s why we couldn’t be more excited to join them on this journey.