As marketers, we are constantly looking for ways to make our campaigns more successful. We want to reach more people, increase our conversions, and ultimately drive more revenue. One of the most effective tactics for achieving these goals is multivariate testing.
Multivariate testing (MVT) is a powerful tool that allows marketers to test multiple variations of a website, ad, or other marketing asset at the same time. By testing multiple versions of the same asset, marketers can quickly determine the best performing version and optimize their campaign for the highest possible results.
While multivariate testing has been around for some time, many marketers still struggle to get the most out of this powerful technique. In this article, we’ll discuss some of the key elements of multivariate testing and how to unlock its power for improved results.
First, let’s start by understanding the basics of multivariate testing. Multivariate testing involves testing multiple versions of an asset in order to determine which performs best. This can be done with nearly any type of asset, from ads to website pages to emails. Each version of the asset is tested at the same time and the results are compared to determine the best performing version.
The key to success with multivariate testing is to make sure that you’re testing variables that have the potential to drastically change the performance of the asset. By testing different elements of the asset, such as the headline, the call to action, the imagery, or the color scheme, you can quickly identify the areas that are driving the most success and make improvements accordingly.
Another important factor when it comes to multivariate testing is the sample size. The larger the sample size, the more accurate your results will be. Ideally, you should have at least 100 conversions per variation in order to have reliable results.
Finally, it’s important to remember that multivariate testing is an ongoing process. As you continue to test and optimize your assets, you should be constantly looking for ways to improve your results. This could mean testing new variables, redesigning existing assets, or even creating new assets altogether.
By mastering the basics of multivariate testing, you can unlock its power for improved results. With the right approach, you can optimize your campaigns for maximum success, reach more people, and ultimately drive more revenue.