‍Author: Martin P.
Title: Content Marketer

EP 60: Where and How Should I Test to Make the Most Money? Blueprint

"Of course, you want more revenue, but what good is it if it isn’t predictable?" — Aaron Ross

Hey hey.

Martin P. from Speero here.

Let’s jump straight in…

This Week in Experimentation:

Blueprint of the week: Where and How Should I Test to Make the Most Money? Blueprint — predict which channels or website pages have the most ROI potential.

Talk of the week: Stop limiting yourself - build your CRO brand today with Carlos Trujillo

Our colleague from Speero Carlos talked about why in a consultation field like experimentation, building a personal brand results in scaling your career.

Also, why in testing and career, you need to make big bets if you want to go places. 

There’s also a lot about how personal branding can help you find new opportunities, establish yourself, increase credibility, and a lot more.

Read of the week: Q&A on Sequential Statistics in A/B Testing

Explore sequential statistics questions like:

— What are stopping boundaries?

— What is the difference between Estimated lift and Observed lift?

— Do I need to have a minimum number of users in an A/B test to use sequential statistics?

— What makes sequential statistics so different from other methods like Bayesian and Frequentist?

Event of the week: CIKM2023

This Birmingham conference running on Saturday 21 - Wednesday 25 October 2023, deals with identifying challenges and shaping the future of information and knowledge systems.

Includes workshops on emerging areas of IR, database management, and related fields.

Speero Story of the week: Quiz Customers to Increase Conversions— One of Speero’s clients used a quiz to direct their customers toward the right product for them. Can this increase conversions? (Read below)

Blueprint of the Week: Where and How Should I Test to Make the Most Money? Blueprint

Use this blueprint and a solid Test Bandwidth Calculator to easily determine:

— Do you have enough traffic, conversions, and time for proper testing?

— Do you have the ability to go deeper into segments and down-the-funnel metrics?

— Which channel or website pages have the most testing and revenue potential?

— Minimum Detectable Effect, test effects on revenue, and priority based on extracting maximum ROI.

You can use Speero’s Testing Bandwith Calculator to help with the equations, not because we’re promoting it, but because it's centralized and includes all data points we need (like MDE). 

Speero Story of the Week: Quiz Customers to Increase Conversions

One of Speero’s clients used a quiz to direct their customers toward the right product for them. Speero was curious… What’s the impact of the quiz on the conversion rate?

The hypo was clear.

“If we invite the visitors to take a Product Selection Quiz, they will perceive that their experience is more personalized, and more transactions will be completed, positively affecting RPU and AOV.”

The result is not as much.

Outcome: Flat

Variation resulted in:

-0.83% in Transactions (22% sig.)

-1.21% in Revenue per user (using Sessions)

-0.37% in AOV

We decided to iterate on the results and find other ways to personalize the user experience.