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Innovation and Growth with Experimentation

Duration - 40 minutes

Key Takeaways

  • Use this time of recession to productively grow your business by focusing on conversion optimization, user research insights, and data-driven design and improvements of your user experience.
  • Experimentation is key, especially in uncertain times. Test different strategies and changes to see what works best for your specific audience and business model.
  • Measure the impact of changes on down-funnel metrics like form submissions, transactions, or revenue. These metrics are more indicative of your bottom line and should be the primary focus.
  • Avoid running more than one test on the same page at the same time when running tests across different pages or stages of the user experience. It's important to have a clear strategy.
  • Reach out to experts or professionals in the field for help in setting up your experimentation and accelerating results. They can provide valuable insights and solve any doubts you may have.

Summary of the session

The webinar, led by Haley Carpenter, founder of Chirpy, focused on the importance of data-driven decision-making in business. She emphasized the need for a structured approach to testing and experimentation, highlighting the importance of formatting for easy scanning and retrieval of information.

Haley stressed the need for a systematic process, especially when scaling up to larger teams, to avoid chaos and ensure all necessary data points are captured. She walked through the process of turning a hypothesis into a test, including design, development, quality assurance, launch, monitoring, and analysis.

She illustrated this with an example of a test that resulted in a 61% increase in transactions, emphasizing that such a significant lift is not always to be expected. The webinar concluded with a discussion on the importance of implementing successful variations and continually iterating on them.

Webinar Video

Webinar Deck

Top questions asked by the audience

  • Could you talk more about that pretest planning that you mentioned earlier?

    - by Yannie
    Yeah. So that is a big topic that I definitely won't be able to cover even in the next 5 minutes. So I really would encourage you to go check out that video. But as far as data volume, I know I keep s ...aying that term. Really what I'm talking about is, traffic, whether you define that by sessions, users, MAUs, whatever that means to you in a given use case, that paired with conversions for your primary metric whether that be something more down funnel, or something higher funnel. I will say, kind of circling back quickly to that perspective I mentioned down funnel versus higher funnel is usually more of a conversation I have with marketing teams. If we're talking about a product, it kind of changes entirely. So there is that caveat, but, data volume, traffic, and conversions. There are different calculators for this and different ways that it can be kind of approached. For example, you probably have seen some sample size calculators where that's the output. There are some calculators where the estimated duration is in MDE or the output. I have very strong feelings that sample size calculators are useless and not really the way to do it. You can back into stuff that way, but it's just annoying and why do that? Really, you're just looking for the duration estimates and the MDE. Those are the 2 common big data points that you need to look at. But, yeah, go check out that video.


Disclaimer- Please be aware that the content below is computer-generated, so kindly disregard any potential errors or shortcomings.

Divyansh from VWO: Hello. Hi, everyone. Thank you so much for joining the VWO webinar. We always try to upgrade and inspire you with everything around experimentation and conversion rate optimization. I’m your host, Divyansh. I’m a marketing manager at VWO, a ...