Have you ever dreamed about learning which products your customers are most likely to buy in advance?
How great would it be if you could determine the highest price a customer would pay for a product? What if you could optimize customer service to resolve concerns proactively before they become issues?
For all of the talk about how awesome (and big, don’t forget big) Big data is, one of the favorite tools in the conversion optimization toolkit, A/B Testing, is decidedly small data.
Optimization, winners and losers, Lean this that or the other thing, at the end of the day, A/B Testing is really just an application of sampling.
You take couple of alternative options (eg. ‘50% off’ v ‘Buy One Get One Free’ ) and try them out with a portion of your users. You see how well each one did and then make a decision about which one you think will give you the most return.
You may have heard that Google recently announced that Universal Analytics was officially out of beta.
But what does that mean & more importantly, how can you take advantage of Universal Analytics to improve your business?
Let’s start with the basics.
136 CMOs were recently asked “What do you see as your biggest opportunity for revenue generation in early 2013?” 46% of them said “improving conversions”. Excellent. Now that we know where the opportunity lies, how do we go about doing it?