CXL Institute Growth Marketing Minidegree review Part 4

  1. Deploy: You want to understand the impact of any deployment.
  2. Research: The first thing one can use it for is conversion signal map where you can leave out certain elements. Here we are looking for elements which are not required rather than looking for winners. We can also test fly-ins which can test the motivation for users. This is research for optimization.
  3. Optimization: It is like lean deployment, as in this stage if it is working we would want to deploy, if not we won’t.
  1. Conduct AB tests once you have more than 1000 conversions. At 1000 conversions you need 15% uplift (challenger has to outperform the control by 15%)
  2. AB tests at 10,000 conversions will need 5% uplift. At this stage look to hire a complete team.
  3. Tests shouldn’t be for more than 4 weeks, it can be for 2, 3, 4 weeks but not for 2 weeks 3 days. You need to cover the complete business cycle and also tests above the 4 week mark can pollute the data (a concept explained by Peep Laja too). Furthermore, this is lean deployment.
  4. Statistical power is the likelihood that an experiment will detect an effect when there is an effect to be detected.
  5. We need to understand the relation between power and significance to avoid the cases of false positives and false negatives.
  6. As a rule of thumb start with a high power >80% (to avoid false positives) and with significance, start with a high significance >90% (to avoid false negatives).
  1. Value: Determine the overall company values and the focus that delivers the most impact. This is mostly done by CRO specialist and Data wizards.
  2. Versus: Determine the competitors and which competitors are placed where. What are the best practices implemented by our competitors. You need to become their users, check their environment changes, their AB tests, their winners. A lot of tools are available to help in this.
  3. View: The insights that can be derived out of web analytics and web behaviour. This mostly deals with the data and psychology areas. Understand Where do visitors start on the site? What is the flow of those visitors? What’s the behavior on the most important pages? On the landing pages think about Where do visitors start their journey? Difference between new / existing customers? Deep dive into traffic sources Do they already have a product in mind? Do they already know the brand?
    You can then analyse customer journey and create customer segments.
  4. Voice: This is really important to understand the voice of the customer. All this is collected through surveys and forms and by speaking with customer service team or chat logs. You can also conduct user research, recruit testers and per-test your assumptions.
  5. Verified: What scientific models, research and behaviours are already available. We need to research our way into the AB testing. There is a lot of scientific research already available on a particular industry or user segment.
  6. Validated: What insights are validated in the previous experiments.
  1. Have one challenger, not 2 or more
  2. Always consider implementation costs but not feel limited by it.
  3. You can have more than 1 change — optimization vs research
  4. Mirror design with the hypothesis
  5. Consider the MDE

Startup Growth | Business Development and Sales | Creative thinker

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Alakshyendra

Alakshyendra

Startup Growth | Business Development and Sales | Creative thinker

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