Effective Marketing Strategies: How to Conduct Better Marketing Experiments

Many entrepreneurs wish they had better marketing skills. Marketing can help you get more customers and more visibility. You can also grow your business at a faster pace.

Marketing can seem daunting to someone who isn’t familiar with the subject. Marketing professionals are like modern magicians who can see amazing results by simply following their intuitions.

This is not the truth. It’s not magic or intuition that makes the best marketing strategies. They are the result of scientific experiments that have been repeated many times.

Why are marketing experiments so powerful and effective? What’s the best way to use them for your marketing campaigns?

Why Marketing Experiments Are Important

Let’s begin by explaining why marketing experimentation is so important. If done right, they can help shape your company’s marketing future.

• Customer information and data. Marketing experiments provide you with a wealth of data. Next, you will learn more about your target audience, their reactions to different images, and copy on different platforms. You will gain a better understanding of your target audience over time and be able to create better messages for them.
• You can make incremental improvements. You can also make incremental improvements to marketing strategies through experiments. Each test will give you insight into your brand, audience, platforms, and even your competitors. With that information, you can create better ads and messages.
• Cost-benefit and evidence analyses. Marketing experiments allow you to gather data that can be used to prove and analyze the benefits and costs of your marketing strategies. This data could prove valuable for justifying your position to employers, proving results investors, or refining your approach to improve your return on investment (ROI).

There are many approaches to marketing experiments. One of the most popular is the “AB test”, in which two versions of a landing page, advertisement, or other marketing collateral are created.

The two versions are then labeled “A”, and “B”, respectively, and tested in a live setting. These lessons can be used to improve your approach and to run more AB tests to determine which version is more popular or converts more.

The AB test formula shouldn’t limit you in any way. Every test you do to gain insight into your brand, audience, and potential impact can prove valuable.

Effective marketing strategies: How to Conduct Better Marketing Experiments

Use the right tools

• You must first use the right tools. A few traits that make good marketing experiment tools are:
• Accessibility. This tool should be simple to locate and use. It shouldn’t be necessary to create something completely new.
• Intuitiveness.The tool should be intuitively usable. You don’t need to spend weeks training how to conduct experiments.
• Robustness. Many features will make it simpler and more simple to carry out the experiments you desire. WYSIWYG editors, drag and drop mechanics, and access to multiple experimental variables all are important.
• Data manipulation and transparency. You will also need full and unimpeded access to the data that you have gathered during this campaign. These data should be available in interactive charts and graphs for you to use as you wish.

Most major advertising and marketing platforms recognize the importance of experimentation and offer tools that can help you run better tests. For example, when you run a PPC campaign, you will have access to tools that enable you to rotate ads and measure customer interactions to help you create better campaigns.
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Follow the Scientific Method

Marketing experiments can be described as small-scale scientific experiments. If you want to achieve better results, you should follow loose scientific methods.

Take, for example:

• Make a hypothesis. Begin by defining your current perspective and opinion. What do you think the outcome of this experiment will be? Do you think a red button converts more people than a blue button?
• Perform tests. Next, create an experiment to test your hypothesis. Consider creating two identical versions of your landing pages if you want to test the difference between red and green button colors. Only one difference is the button color. Send traffic to both.
• Take the time to observe and analyze the data. Next, gather the data and verify your hypothesis.
• Make new conclusions. No matter if you prove or disprove your hypothesis, you will likely learn something new.

Nail: Sample Size

Marketing experimentation is all about the sample size. If you have too many people in your sample, it will be difficult to draw meaningful conclusions about the larger population. However, too many people can lead to wasting your time and money.

Keep an open mind

While you may have some ideas about your brand and how it should market, in certain ways this consistency is a good thing.

You need to be more open-minded if you want to achieve the best marketing results. Experiments can be a great way to test controversial ideas and challenge long-held beliefs. Make the most of them by being open to trying new things.
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Compare Apples with Apples

You’ll need to evaluate apples against apples when carrying out marketing experiments. This means that you need to ensure your conditions aren’t introducing secondary or tertiary variables which could confuse your causal link.

Let’s take, for example, a test of a button that is green against a red button. Your green button is activated in the morning while your red button is active at night. Your red button wins, but was it because the test was done at night or because the button was red?

You should control your tests for these variables at least, and then isolate one variable to use in your test.

• Time. When are you conducting this experiment?
• Audience. Who are the people being tested?
• Sample size. Are you using approximately the same sample size for each test?
• Other variables. Try to filter out other variables as much as possible, and focus your AB experiment on a single differentiating variable.
  
  
  

The closer your marketing efforts are compared, the closer to a “perfect” strategy.
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Filter Out Cognitive Biases

• Cognitive biases can affect everyone. They distort our perceptions and make it difficult to draw neutral conclusions. These are just some of the ways that you can combat bias.
• Introspect. What is your approach to this problem? Do your emotions lead you in a certain direction?
• Look at multiple data sets. A single test might not be sufficient. Before you make a decision, it is worth looking at several data sets, particularly if they are from other experimenters.
• Identify your assumptions. You might assume that a particular marketing strategy is better than others. These assumptions can lead to false and biased conclusions.
• You can prove yourself wrong. Confirmation bias makes proving yourself right easy. Instead, search for evidence that proves you wrong. You may be surprised by what you discover.
• Collaborate with others. Learning from other perspectives can help you see the gaps in your thinking.

Your marketing and advertising results will improve with better marketing experiments. With a better data stream, you will be able to try new approaches and techniques, and eventually, you will find the right formula to convert your target audience.