Author: Martin P.
Title: Content Marketer
EP 52: Iterate VS Move On Blueprint
“Nothing is ever so good that it can’t stand a little revision, and nothing is ever so impossible and broken down that a try at fixing it is out of the question.” ― Rebecca Solnit, Hope in the Dark
Martin P. from Speero here.
This time, no need for intro-ing.
Let’s jump straight into…
This Week in Experimentation:
Blueprint of the week: Iterate Vs Move On Blueprint — At what point do you move on and start testing something new? When does it make sense to continue iterating because there’s still some juice left to squeeze?
Talk of the week: How to Deal with the Biggest Threat to Experimentation Culture
In this episode of AB Tasty’s 1000 experiments, Lucas Vermeer talked about how to start and scale experimentation quickly and efficiently. Start small and keep it simple.
Knowing the purpose of your experiment is key. Lukas recommends focusing your efforts on testing big features that can drive real change or impact the company’s bottom line, rather than UI design.
Ask yourself, “What are the biggest questions that are driving your business case at the moment? What are the biggest assumptions that are behind your strategic planning?”
This article explores how to calculate the sample size and experiment length based on the desired MDE, ensuring accurate and meaningful experimentation. It includes:
— Understanding Minimum Detectable Effect (MDE)
— Sample Size Calculation
— Experiment Length Calculation
— Online Tools and Calculators
Keep in mind that you can do all of this in our AB Test Calculator, including calculations of monthly monetary contributions based on the data you enter.
Event of the week: Growth Hackers Conference 2023 #GHCONF23
GrowthHackers Conference is a full-day online event on October 17th, bringing together growth enthusiasts from around the globe. It’s tailored for professionals in growth, marketing, product, experimentation, innovation, CRO, and entrepreneurs who are dedicated to driving business growth through experimentation.
Gain invaluable insights from growth leaders at top companies like Adobe, Amazon, Etsy, and more, as they share proven strategies, case studies, and industry trends that can transform the way you approach growth.
You will learn how to optimize marketing strategies, harness the power of AI in growth, and drive product innovation in any economy.
The best part is that you can register for free. Tue, October 17, 2023, 9:00 AM – 5:00 PM Pacific Time UTC -7
Speero Story of the week: Testing XX, Radical Distraction Elimination — If we remove the Navigation Menu and Footer from Checkout, will this lead to more transactions and revenue? (Read below)
Blueprint of the Week: Iterate Vs Move On Blueprint
At what point do you move on and start testing something new?
When does it make sense to continue iterating because there’s still some juice left to squeeze?
The Iterate Vs Move framework deals with this.
This is a great visualization of how iterations are important to experimentation, but can sometimes be deprioritized if other initiatives take precedence.
Remember, testing and iterations are costly.
Use this blueprint as a starting point in decision making whether to iterate vs. move on to the next test, and build this into your own prioritization framework.
— Determine before the test if the iteration costs too much.
— Decide between iterating and moving to a new hypo.
Speero Story of the Week: Radical Distraction Elimination
If we remove the Navigation Menu and Footer from Checkout, will this lead to more transactions and revenue? This was a hypothesis we decided to test with one of Speero’s clients.
Basically, we wanted to remove any content distracting the customer from completing their purchase.
But rarely who tries removing the essentials like Footer and Navigation Menu.
What was the outcome?
+10.04% in Transactions (99% sig.)
+7.46% in Revenue per user*
Est. Monthly Monetary Contribution:
$23.589 (Extra Transactions * AOV)