Author: Martin P.
Title: Content Marketer
EP 21: Goal Tree Map Blueprint and More
Test > Observe
The latest episode of The Experimental Revolution is here.
To all new subscribers, welcome.
Here, you can read all about the latest blueprints, news, events, and blog posts in the fields of CRO, CXO, and experimentation.
With that in mind, let’s see what this week looks like.
This Week in Experimentation:
Blueprint of the week: Goal Tree Map — easily visualize the metrics that matter to your business and identify sub-goals that must be achieved first. Link.
Talk of the week: Which type of hero banner on a homepage leads to more revenue and sign-ups: static or animated? The answer might surprise you. Link to video.
Read #1: 43% of B2B SaaS CMOs plan to invest a little more in CRO. 36% of SaaS CMOs plan to invest in CRO a lot more. That’s a staggering majority (79%). Link.
Read #2: Where Should I Display my Price? Scientific research on how we perceive prices as cheaper when they are below products (vs above), increasing sales. Link.
Opinion of the week: Let’s Make Experimentation More Than a Buzzword. Link.
Blueprint of the Week: Goal Tree Map
A goal tree is a logical and hierarchical visual representation of your goals, critical success factors, and necessary conditions.
It’s a tool you can leverage to understand how your goals are connected and ensure everyone works towards the same overall purpose.
Using a Goal Tree Map, you can easily visualize the metrics that matter to your business and identify sub-goals that must be achieved first.
Use Cases
— Define the strategic KPIs that fuel optimization efforts
— Identify metrics that are crucial to the company's success
— Break down KPIs into smaller metrics where we can see improvements faster
Talk of the Week: Static vs. Animated Hero Banners
Which type of hero banner on a homepage leads to more revenue and sign-ups: static or animated? The answer might surprise you.
Watch the pilot episode of The Cro Show, a game show for conversion rate optimization and marketing experimentation fans, and see if you can guess which test variation performed better during a recent Cro Metrics client experiment.
Reads of the Week:
Read #1: 43% of B2B SaaS CMOs plan to invest a little more in CRO. 36% of SaaS CMOs plan to invest in CRO a lot more. That’s a staggering majority (79%). Link.
Peep Laja, the founder of Speero, CXL, and Wynter, recently surveyed B2B SaaS CMOs about their 2023 plans.
The most interesting finding for us in CRO and experimentation world is this: the overwhelming majority is planning to invest more in conversion optimization.
CAC is going through the roof, so lowering customer acquisition costs through better conversion rates is now a much higher priority.
Read on to find out what CMOs are specifically planning to do in 2023. Link.
Read #2: Where Should I Display my Price? Scientific research on how we perceive prices as cheaper when they are below products (vs above), increasing sales. Link.
Say you’re redesigning your website.
Or putting the final touches to that banner ad.
Where should you write your price?
Here’s what scientific research found is most effective.
Position your price below your product (e.g. on your ad, product page, or store shelves), not above. People will perceive the price to be lower and be more likely to buy.
Why it works:
The metaphor that “down = less” and “up = more” is ingrained in most of us as a concept. For example, one can be “king of the hill” or “up in heaven”, and hit “rock bottom” or “go down to hell”.
So when we see a price in a low vertical position, we associate “down” with “less” and perceive it as a smaller number than what it is.
Newer research found that this effect seems to work best for low-cost products or cheaper than expected prices. It might not be effective for expensive products.
Link.
Opinion of the Week: Let’s Make Experimentation More Than a Buzzword
“We collectively need to make #Experimentation more than just a buzzword.
So often, experimentation is seen just as a checkbox 'we tested it without any kind of thoughtfulness towards any actual investment or strategy into the program.
If you don't give experimentation the proper investment (tools, processes, people, skills), don't expect it to do big things. It probably won't. In the same way, if you have a paid search campaign but only put 5$ into it, you wouldn't expect it to do well, right?”
— By Shiva Manjunath
That’s it, ladies and gentlemen.
Martin P. is out.
Talk to you soon.
PS: Think someone else could use Speero’s CRO and Experimentation Blueprints™?
Share the newsletter with them.
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