Marketers constantly feel the pressure to do more: Figure out how to use Snapchat geo-filters; implement multi-touch attribution to better assess marketing impact on the purchase funnel; personalize and optimize every customer touchpoint. The list keeps growing, but getting answers to those questions doesn’t seem to get any easier.
At Quantifi, we hear a version of this line repeated over and over again: “I need to experiment, but I’m accountable for delivering results.” It’s a paradox that keeps the pressure of trying new things always hanging over one’s head, but with no escape from the time, energy, or budget that must be committed to do so.
So, how does experimentation fit into a marketer’s workflow so that it helps to make smarter decisions instead of just increasing the workload?
Here are three ways that marketers are using experimentation to answer questions and work smarter:
1. We’re running a new campaign. What’s going to work best?
Experimenting with many combinations of ad creative and audience targeting can help provide scientific answers to the question of what will work best. More than simply an A/B test: Think if you could quickly run every ad combination imaginable with minimal spend. Now you know which ads work and which ads don’t, and can spend the remaining majority of your budget accordingly. If you’re looking to experiment with new channels, take a look at our latest Instagram experiment from diving deeper into Google Analytics’ reports.
2. We’re launching a new product. How do we instill our messaging and drive growth?
In the same vein as a new campaign, new products require a fresh mindset. Your new product means a new value proposition that you need to test with the market. Investing in experimentation to understand which variations of messaging resonate with which audiences provides marketers with the answers needed to be most effective.
3. We’re entering a new market. How will we reach people most effectively?
New markets pose a similar challenge. Whenever something is new, we don’t know what variables might be introduced that could throw a wrench in our previous strategies. What channels are most effective for reaching this new market? Marketers can use experimentation to quickly see how audiences in a new geography or industry react differently across different channels. The results provide real answers to the question and allow you to invest your remaining budget with confidence.
While data has quickly become of utmost importance to marketing organizations, its usefulness has lagged behind its availability.
Using experimentation to answer specific questions in current marketing workflows makes data immediately useful. When done correctly, marketers have confidence they’re investing in the right places, they learn the un-obvious findings that wouldn’t have otherwise come to light, and they can hit bottom line goals by investing in activities proven to work.
Find more marketing experimentation tips on Twitter @tnntnews.
Featured image: State Of Digital