Marketing Analytics
If digital marketers deploy ad campaigns without any feedback data or analytics, how will they know what strategies worked and didn’t work? Modern consumers leave a trail of digital breadcrumbs for marketers to follow and analyze along the path to purchase, leaving all that valuable data behind is a wasted growth opportunity!
Forbes cites its own Insights Report, as well as work from ITSMA and Vision Edge Marketing, showing two startling statistics.
Only 22% of marketers have successful, data-driven initiatives delivering viable results.
74% of marketers can’t even measure or report on the impact of their campaigns to the business’s bottom line.
As a digital marketer, if you’re going to make data-driven decisions you need analytics to deliver those data points to make informed decisions. This is where A/B testing comes in to help you determine which channels and strategies are operating at peak efficiency.
30 Seconds for A/B Testing
Also known as split-testing, A/B testing is a method of comparing the results of multiple marketing campaign versions by developing different types of campaigns or variations (Ad A, Ad B). Run those ads to see which one generates more interactions and conversions with your target consumers.
The overarching goal is to determine which ad type/content language/marketing vertical is performing the best in your campaign.
This gives you a strong starting point to make data-driven marketing decisions as you now have data to prove ad A is better than ad B, or vice versa. Unfortunately, only 44% of companies use any form of A/B testing software to test varying ad types or marketing channels, this leaves a large data gap that could have been used to optimize your sales strategies.
Benefits of A/B Testing
A/B testing generates data that is used to make informed, data-driven decisions when structuring and designing marketing campaigns. Here’s a quick list of three benefits of using A/B testing in digital marketing today:
1) Improve Content Engagement: By Comparing two versions of an ad, article, or landing page, you have the ability to see which one generates more engagement. Getting data on consumer preferences enables you to take A/B testing results and deliver a higher quality in the final version.
2) Increased Conversion Rates: A/B testing offers two forms for consumers to view. The one that generates more conversions is the one you’ll eventually enhance and utilize further in other campaigns. Correct adjustments based upon initial A/B testing can help boost conversion rates up to 300%
3) Larger Conversion Values: Today A/B testing can be used on low-end products/services to refine lead pages or ad funnels. Tomorrow, that refined format can be A/B tested again for high-end products to increase conversions.
A/B Testing is Great, and It’s Important For Phone Calls Too
A/B testing will get you the data you need to optimize conversions, but it’s up to you to analyze the results and implement changes gradually to improve your marketing efforts. You can use those analytics to determine which of your marketing channels are working, and which ones are falling behind. This is arguably the primary benefit of data-driven marketing. Analytics deliver the data you need to see across marketing channels and track consumers as they weave through desktop searches, mobile app interactions, and social media engagements.
Analytics improve your vision as a marketer and better understand the target consumers you’re hoping to reach
A critical piece in the bridge between online and offline attribution is through phone calls. Retreaver is capable of tracking a phone call back to the specific ad, campaign, or social media interaction that initiated the phone call. When those calls generate revenue for the business, you’ll know exactly which campaigns are delivering the best ROI for your marketing spend.
Retreaver understands the importance of A/B testing and the impact those analytics can provide. Let us provide the tools you need to track and attribute your calls, so you can make more data-driven decisions that grow your business.
Looking to learn which campaigns or channels are driving your revenue growth?
Contact Retreaver for an online demonstration, We will provide you with all the resources you need to optimize your advertising outreach, maximize sales results and deliver excellent customer service.