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Measuring Results

Lesson 26 from: Conversion Rate Optimization: Convert Visitors Into Buyers

Rita Cidre

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Lesson Info

26. Measuring Results

Lesson Info

Measuring Results

let's say you set up and run an experiment for a full month, one version is doing better than another. But how confident are you that the winning variant will be the winner forever and ever in perpetuity. This is where statistical significance comes in. Statistical significance is basically a measure of confidence in the results you get back from an A. B. Test. It ensures your results are real and that they will have the impact on your business that you expect them to have in the past. Marketers needed at least some statistical skills to calculate statistical significance. But today there are hundreds of free calculators you can use online Neil Patel's is my favorite. Let me show you how it works, assuming you're running an A. B. Test and you're getting results back. You might be wondering are these results significant or how marketers like to call it stat sig or statistically significant. There are various calculators on the internet that you can use to calculate statistical significa...

nce for your A. B. Tests. This is my favorite. Um If you don't know Neil Patel. He's a very well known blogger. Uh He blogs about digital marketing and so it's someone to definitely follow. If you're interested in digging deeper into conversion rate optimization or any digital marketing topic. So the way the calculator works you just add the number of visitors on the page. Let's say it was 1000. And then the number of conversions, let's say for your a test. So that first control C. T. A shop now it's 90. Um and let's say the number of visitors for the B test was the same 1000. But you had a higher number of conversions. You had 120. Um You can see here that he immediately tells you what your test results are. So test B is converting 34% better than test a. And then it gives you what's called a confidence interval. So he's 99% certain that the changes in test be are going to improve your conversion rate. So my a. B test is statistically significant. So once I enter my results in this calculator and I deem that my results are statistically significant then I can do what's called rolling Out or you can just basically make your B version now is your control call to action. Uh And it's time to think of another test. Maybe you're going to test another C. T. A different C. T. A copy or you're going to test other elements on the page as a way to continue to improve your conversion rates. Another thing to note about this calculator is that you can add other variations here. So I mentioned this when I was walking through optimized lee there is something called multi variant testing which is you're testing more than one element on the page. So if you're doing that this can also help you test statistical significance So you can continue to add as many variations as the ones that you are testing on the site. So this is a really nifty free tool to help you calculate statistical significance for all your tests. In this case, our results are statistically significant. So we can roll out variant B. In other words, I should feel confident making this the new picture on my homepage and knowing it will help lift conversion rates. So is that it Am I done? No, never. I'm not trying to be dramatic here, but good marketers are actually never done a B testing. It's now time to test a different variant to continue improving conversion rates. You can pick almost anything on the page from the C. T. A. To the global navigation. Anything. My one piece of advice is that you try to always select variables that you think will have a meaningful impact on conversion rates. Can you increase conversion rates by changing your font from times new roman to Helvetica maybe, but that's not likely to be worth your time. So pick stuff that will make an impact. And with that we move on to the concluding chapter of our course

Class Materials

Bonus Materials with Purchase

CRO Tactics Cheat Sheet.pdf
CRO Formulas and Definitions.pdf
Fiverr Conversion Rate Optimization Worksheet - Rita Cidre.pdf