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Over the years, conversion rate optimization (CRO) seems to have become synonymous with A/B testing in the minds of many marketers.
A/B testing is a form of conversion rate optimization. You have a page and you want it to perform better, so you change something and see if it improves your results.
But, A/B testing isn’t the only way to do CRO.
If you’ve got enough traffic, multivariate testing can allow you to produce meaningful results much more quickly.
Optimizely studied & reported on the factors that defined the world’s best testing companies.
The 4 biggest factors were:
According to Optimizely, just 14% of A/B tests significantly improve conversion rates. On the other hand, tests with 4 variants improve conversion rates 27% of the time.
So, if you test 4 variants, you are 90% more likely to improve your conversion rate than if you just ran an A/B test. However, 65% of CRO tests are A/B tests!
With multivariate testing, you can try out several ideas at the same time. That means you can simultaneously test multiple hypotheses. This will allow you to optimize your page or site much more quickly than you could with a long series of A/B tests.
Plus, running a multivariate test will greatly improve the odds that a single test will deliver at least one positive result, allowing you to start getting more from your website sooner.
Things like differences in your competitors' marketing strategies, political change, or a variety of other variables can make it difficult to directly compare the results of A/B tests.
As a result, sometimes it can be hard to know if a particular A/B testing variant succeeded (or failed) because of factors outside of your control or even knowledge. The more tests you run, the murkier your results may become.
However, with a multivariate test, you are testing all of your variants under the same conditions. That makes it easy to compare results & draw valid, reliable conclusions from your tests.
As great as multivariate testing is, if you don’t have enough traffic, a test could take months or years to complete.
In fact, in true multivariate testing—where you test to see how a large number of subtle changes interact to generate your conversion rate—you want at least 100,000 unique visitors per month.
On the other hand, you need far less traffic to simultaneously test multiple page variants.
If the time frame makes sense for your business, go for it!
More like this
A Beginner's Guide To A/B Testing: An Introduction
The Power of Bayesian A/B Testing
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