by Manager | Dec 18, 2019 | Advertising, Banner Ads, business, copywriting, email marketing, Landing Page, List Building, Marketing, Pixels, Post formats & All widgets, Promote Labs, SEO, social media
For a lot of marketers, split testing can seem like a bit of a mystery. Maybe that’s because so many people believe the myths about split testing. They make it more complex than it really needs to be. And when something seems complex, a lot of people simply decide not to mess with it.
If you’ve ever felt the same way about split testing, then you’re going to want to read the myth-busting facts about split testing below. Take a look…
Myth 1: You Don’t Need To Test It If Someone Else Already Has
There are a lot of marketers who share their split testing results. You can read how their tweaks and changes affected the conversion rates on sales letters, emails, ad campaigns and more.
So you know what happens?
Some marketers see this data, see that it’s coming from a trustworthy source, and then decide they don’t need to run a test since someone else has already done the test.
That’s a big mistake.
You see, unless you are selling the exact same thing to the exact same audience in the exact same way, you can’t take someone else’s split-testing results and apply it to your marketing.
For example, maybe a marketer in your niche just revealed that an orange payment button boosted their conversions by 20%. So a bunch of marketers run out and change their payment buttons to orange buttons too – but they never test it. They just assume it works.
But maybe the orange payment button WON’T work for YOU. For example, maybe orange actually clashes with your site design. Maybe orange looks garish on your site. So if a customer views your payment button as loud and garish and out-of-place, they might just hit the back button rather than hitting the payment button.
Point is, just because it works for someone else doesn’t mean it will work for you. The only way to know for sure is to do your own split testing. Sure, you can use other peoples’ test results to get ideas of what to test on your site. Just don’t assume their results will apply to your audience.
Next…
Myth 2: Multivariate Testing is Better Than Split Testing
Split testing is when you test just ONE element while holding all other variables constant. Multivariate testing is when you test multiple variables at the same time in order to determine which combination produces the best results.
Now here’s what a lot of people don’t realize: you can get the same end results whether you’re doing multivariate testing or split testing.
But there is one big problem when it comes to multivariate testing…
It requires a LOT of traffic. And if you’re not running a big business with a popular, heavily trafficked website, it might take many months for you to get any results.
That’s why so many marketers prefer split testing. They can split test one item – such as a headline – and get results really fast (in as little as a week). That means they can start profiting from their test results immediately, rather than waiting months for the results.
The other problem with multivariate testing is that because you need SO much traffic, you may find it difficult to achieve a high level of statistical confidence in your results. High statistical confidence, such as being 95% confident with your results, requires a big sample size. Those who can’t get that much traffic might drop their confidence levels – but that increases the chance of interpreting the results in the wrong way.
Still another problem with multivariate testing is that if one of your factors isn’t really providing any statistically significant changes to the conversion rate, it makes interpreting the test a little difficult. In those cases, running a standard A/B split test is better, because the results are more clear.
So here’s the bottom line…
Split testing does everything a multivariate test can do, if you run a series of tests. The difference is that you can start profiting immediately from your initial test results, rather than waiting months to get enough traffic to conduct a multivariate test. That’s why so many smart marketers choose split testing, and why you should too.
Which brings us to the final myth…
Myth 3: Split Testing is Difficult
This is perhaps the #1 reason why a lot of marketers simply don’t bother with split testing: they think it’s hard.
And you know what?
If you use the wrong tools, it IS hard.
Maybe you’ve done some research on the split testing tools, and you ended up walking away feeling unsure. Overwhelmed. Confused.
And no wonder…
Before you can even use a lot of the tools that are on the market, it feels like you need a PhD in statistics. You have do all sorts of number crunching before you even begin. You have to figure out how much traffic to get and how many conversions you need.
And before you can pick a winner, you need to be sure it’s a statistically relevant result. If you don’t know a whole lot about statistics, then it’s hard to interpret the results. You end up second guessing yourself a lot.
Oy!
It’s enough to make your head explode. And it sure sucks all the fun out of split testing.
Until now…
Because when you have the right tools, then you don’t need to be a super statistics geek to start profiting from split testing. And here’s the tool I’m talking about: Split Test Monkey.
Split Test Monkey (STM) makes testing faster and easier than you ever thought possible. That’s because STM does all the heavy lifting and number crunching for you. This clever tool tracks all your conversions and then runs the data to pick a winner. And you can be sure of your result, because Split Test Monkey even lets you choose the confidence level.
So yes, split testing USED to be hard and complicated. But not anymore – not when you use Split Test Monkey to quickly and easily boost your conversion rates.
In Sum…
If you’re not split testing yet, you should be. That’s because a good split test can deliver a lot of very exciting benefits to you, including:
” Higher conversion rates.
” More opt-ins.
” More customers.
” More sales.
” Lower refund rates.
” More revenue.
” Better return on your ad investments.
And more.
Just consider how much MORE money you’d make if you doubled your current sales letter conversion rate. Imagining triple it… or even quadrupling it.
Imagine how much more money you’d make if you doubled or tripled the opt-in rate on your current lead page. Imagine getting more people to open your emails, and more people clicking on the links, and more people buying what you’re selling.
All of this is possible once you start split testing. And the good news is that split testing is easier and faster than ever before when you have the right tool. That tool is Split Test Monkey, which is my new favorite go-to tool for increasing my profits.
You’re really going to like it too. So check it out now here.
Special permission to republish this article was granted by Promote Labs Inc.
by Manager | Nov 13, 2019 | Advertising, Analytics, autoresponders, Banner Ads, Content, copywriting, email marketing, Landing Page, List Building, membership, Promote Labs, Website
There isn’t a serious marketer around who isn’t constantly on the lookout for clever ways to get more opt-ins, generate more sales and make more money. And that’s why serious marketers know the value of split testing. Split testing is all about finding out what really works so you can make more money while reducing the time and cost of advertising.
So to that end, check out these six incredible split-testing hacks…
1. Focus On What Matters
It’s easy to get hooked on split testing, especially when you see those initial results. But not every test you run is going to provide game-changing conversion rates. That’s why you’ll want to focus 80% to 90% of your time on split testing those factors that are likely to move your conversion rate the most. Those factors include things like your overall offer, your headline, and even the overall design of your page.
Even when you’re working on testing these big factors, be sure you’re making big changes.
For example, adding one extra bonus product to a group of six bonus products isn’t going to make that much of a difference. It’s a change that’s simply not that noticeable.
On the other hand, testing NO bonuses versus offering bonuses is a big change. Likewise, offering one bonus versus offering half a dozen bonuses is also a big, noticeable change.
In short, focus on testing things that are likely to make a difference, rather than the factors that hardly anyone but you is likely to notice.
2. Don’t Stop a Test Prematurely
Once you start running tests, it’s easy to check in on the data early and often. In fact, it’s fun to watch it all unfold to see if your hypothesis is correct. And sometimes you’ll even see one particular result start out way ahead of the variation in terms of conversions.
So what happens?
It’s tempting to stop the test right then. After all, it seems like you can save yourself some time and possibly even money if you stop the test since it looks like one variation is going to win.
Don’t do it!
It’s not uncommon for one of your variations to start out way ahead of the other variation during early testing. However, that doesn’t necessarily mean that particular variation is going to end up being the winner. It might win-but it might not. And the only way to tell for sure is run the full test and look at the results.
Sometimes there is some other variable that creates those early results. For example, maybe something happened in the world on the day you launched your campaign which skewed the results. Perhaps a competitor launched a similar product with a similar headline, and so your traffic is coming to your sales page with that other product in mind.
Will that skew your results? You bet it will. And that’s why running your test for a couple weeks will help smooth out those variables you can’t control, so that you can pick the true winner.
Next…
3. Think Outside the Box
We like to think that our own intuition is all that’s needed to run our business. But it turns out that sometimes our own intuition is wrong – and it’s costing us a lot of money.
For example, it’s really common for marketers to assume that the lower a price point, the higher the conversion rate. But many marketers have seen their conversions and profits RISE when they raise their prices. Here are two reasons why?
“Prospects’ perceived value of the product goes up as the price goes up. That’s why people rate wine as tasting better when they’re told it’s expensive wine. Likewise, raising your price might make the product seem more valuable and desirable, which in turn boosts conversion rates.
“People who buy expensive products are often more serious customers, so you don’t have to issue refunds or spend an inordinate amount of time on customer service issues. Even better, serious customers tend to buy more products in your sales funnel, which means even more profits for you.
Will this particular tactic work for you and your audience? Who knows. The only way to find out for sure is test it. And while you’re testing it, go ahead and think about what other assumptions you’re making that may be costing you some sales.
Next…
4. Aim For a 95% Confidence Level
Whenever you’re doing split tests, you need to set your confidence rating. This is a statistical term that states how confident you can be that the final result is the true result.
For example, it’s nearly impossible to achieve a 100% confidence rating, because you’d need to test everyone in your audience. That’s not happening.
Likewise, a 99% confidence rating is difficult to achieve. It’s doable, but you’ll need an extremely large sample size and a LOT of conversions before you’re able to be 99% confident in your results.
That’s why 95% is a good number. It’s still a high number, so you can be reasonably sure that the results from your sample of the population are correct. And yet you don’t need an unreasonably large sample size to achieve these results.
TIP: Depending on what tool you’re using, you may need to do the confidence level calculations yourself. If you’d rather use a “set it and forget it” method, then use a tool like Split Test Monkey, which does all the calculations for you with their Auto Optimize feature.
Next…
5. Look for Inspiration From Others
A lot of online marketers freely share their split-testing results with the online marketing community. And while this information is really useful, it’s ONLY a starting point. You should trust but verify by doing your own tests.
In short, don’t blindly apply someone else’s split testing results to your business. That’s because:
“Their audience is different.
“Their offer is different.
“Their sales letter is different.
“They might have done their split test poorly and misinterpreted it.
So the next time you see someone doubled their conversion rate with some cool hack, go ahead and swipe the idea. But be sure to test it for yourself to see how your audience actually responds.
6. Make Split Testing Easier Than Ever
A lot of marketers make split testing way harder than it needs to be. They get their hands on confidence calculators, they do calculations to figure out the ideal sample size and number of conversions they need, and so on.
Truth is, split testing doesn’t need to be that hard. Instead, all you have to do is get your hands on a good split testing tool, one that will do all those calculations for you. Here’s the one I recommend: www.splittestmonkey.com.
Now if you’ve looked at other tools before, then you’ve seen how you have to install them on your site and configure them correctly before you can even start setting up your tests.
You don’t have to do any of that with Split Test Monkey. That’s because this is a web-based app, so all you have to do is log into your dashboard and start setting up your tests with just a few clicks of your mouse. And because Split Test Monkey has an Auto Optimizer function, you don’t even need to do any calculations, because the app handles everything for you!
Bottom line?
Split testing has never been easier, faster or more profitable. Find out for yourself now here.
Special permission to republish this article was granted by Promote Labs Inc.
