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If you are tracking your conversion rate - and you should be - ask yourself this question: are you happy with your numbers? Are you converting enough leads into customers in order to see real bottom line growth? If you’re like most brands, the answer is “No.” There is always room for improvement when it comes to conversion rates, no matter the size or scope of your business and no matter what your current performance. You can see improvements and growth - and multivariate testing is an important key to both.
Multivariate goes beyond simple A/B testing to deliver a much more comprehensive look at how various elements on your website or in your ads perform with real leads and customers. Reposition will give you the full picture - and then guide you in making the most informed, data driven decisions for your brand.
.... And what doesn’t? When marketing and advertising dollars are limited - and aren’t they always! - you need to target spending on elements and strategies that yield the best results and stop wasting funds on those that underperform or negatively affect your brand. Multivariate gives you the insight you need to allocate your budget for maximum impact.
A/B and multivariate testing are both useful tools in your effort to increase conversion rates. Let’s take a look at the differences.
A/B
A/B testing, also called split testing, compares just two elements to see which performs better. For example, you might test a green CTA button with the text “Buy Now” with a red CTA button with the text “Order Now.” Yes, these are subtle differences, but they can make a big impact on consumer behaviours and intention to buy. In general, A/B:
Multivariate
This testing method allows you to look at different variables and simultaneously run alternative versions to determine which perform better. While A/B testing certainly has its place and can offer quick, reliable answers, multivariate:
As mentioned, A/B is also useful. If you need to do a deeper dive or discover which elements you need to tweak, multivariate testing may be more useful. We’ll help you decide which is most appropriate, and then get to work.
Multivariate testing is more intensive, and ultimately informative, than simple A/B testing. It is a method by which we combine and test multiple variables in controlled settings simultaneously. The goal is to discover which lead to the most conversions. This is an invaluable tool that allows you to test and validate strategies before launching them. We can test elements from your calls to action copy and buttons to your fonts and colour palettes. Reposition is able to get a close up look at how people interact with your website and/or ads – and how we can optimise them for greater levels of success.
What does multivariate look like in action? Say that you are testing a new call to action. You may test the CTA with two different images and four different lines of copy, for example, to determine which one converts most effectively. The number of variables you can test depends on different factors, such as the traffic volume you need to get statistically significant results. Our team will help you select the variables you need to test as well as the variations you can run.
Analytics and data guide our process. Using these insights, we identify elements on your page or ad that are currently most engaging for visitors, as well as those which could use an overhaul. First we get the lay of the land.
Our team works to create different versions of your page or ad and can focus on various elements, including CTA buttons, color, images, and headings. Every combination becomes its own unique version, which is used for testing.
Testing time. We deliver the page or ad to different, though equal, segments of your audience for a specified period. When we have enough data, we can work on analysing the results.
What did multivariate testing uncover? We’ll show you. Our clear communication style makes it easy to understand the results of testing as well as our recommendations for the next steps.
Based on the results of multivariate testing, we make strategic changes to the elements of your page or ad to enhance your conversion rate.
We don’t leave it at that. Ongoing monitoring and tracking are an essential follow up to testing. Are the changes yielding the results you expected? Data will show us.
Testing various elements of your website or ads is a critical step for all businesses. You can gain tremendous insight into not only your performance but also how leaders and customers interact with your brand online. Don’t just guess: know. And then put that knowledge into action.
Talk to Reposition about multivariate testing. Brand-building results are just around the corner.
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