Suppose you are running a towing service and you want to run marketing to see what works and what doesn’t, where would you start? Setting up a successful marketing campaign can be a big headache. But before you can go full-blown with your marketing budget, you must run a marketing experiment to clear some clear understanding of the strategy to roll on. Marketing experiments give you a projection of how well a marketing method will perform before you can implement them on a full scale.
What is a Marketing Experiment?
A marketing experiment is a form of marketing research. It is a test organization run to discover possible marketing avenues that can be used to improve campaigns. A marketing team can decide to create and send emails to a small segment of their overall readership to gauge engagement rates before finally settling on a strategy.
It is important to have a clear understanding that a marketing experiment is not synonymous with a marketing test. Marketing experiments are solely done to discover, while a test is done for testing hypotheses. Ultimately, a marketing experiment can be useful in helping you ensure your campaign or strategy will be useful. To conduct a successful marketing experiment, here are some important pointers to keep in mind;
Make a hypothesis
The hypothesis should not only be related to science projects. When conducting a marketing experiment, the first step is to make a hypothesis of what you are curious about testing. You may need to run an email campaign to improve engagements. You can come up with a hypothesis such as ” Does making an email with emoji’s in both subject lines and copies increase engagements?” This can be a good hypothesis where you run a test to prove or disapprove it.
After you have created your hypothesis, the next phase is to gather research. Gathering research will give you background knowledge about the experiments that have previously been conducted and you will get an idea of the possible outcomes. By doing research, you will also be able to make appropriate modifications based on what your hypothesis is.
Set up Your Measurements
The next important step is to conduct measurement metrics. Once you have collected your research, you can choose which avenues you will take as well as related measurements. You may run the A/B test to allow you to measure two different emails and decide on which one to settle for. Once you have set up your measurement channels, you need to proceed to create and execute your experiment.
The last step of the whole process involves analyzing the results of your experiment. Once you have run the experiment, collect, and analyze the results. Make use of the metrics you chose in the second step to conclude if your hypothesis was right or not. The prime indicators of whether you are successful or not will depend on the metrics you chose. Use the results of the analyzed data to make vital adjustments and conclusions.