How to use Experiments for testing channels?
As we progress from understanding channel types and testing methodologies, we will now look at using experiments to determine the success of these channels. This concept will guide you on effectively using experiments for channel testing.
Embracing an Experimental Mindset:
An experimental mindset involves being open to all available channels, rather than fixating on a particular one. It’s about exploring various possibilities and being prepared to pivot based on what the data tells you.
Conducting Micro-Experiments:
Instead of grand launches, start with nimble, small-scale experiments. This approach allows you to test a channel's fit with your business with minimal risk. For example, running a short-term campaign on a new social media platform to gauge user engagement and conversion.
Building a Feedback Loop:
Adopt the Build-Measure-Learn loop from Lean Startup methodology by Eric Ries. Implement a channel strategy (Build), track key performance indicators (Measure), and analyze results to gain insights (Learn). This continuous process enables iterative improvements.
Documenting Successes and Failures:
Both successes and failures provide valuable organizational learning. Documenting what works and what doesn’t helps avoid repeating ineffective strategies and refines your approach to channel experimentation.
Importance of Iterative Testing:
If a channel experiment fails, it’s crucial to identify why. Was it the channel itself, the execution, or external factors? Understanding this helps in deciding whether to abandon the channel or adjust the strategy for another test.
Effectively using experiments is key to finding the best growth channels for your business. It's about testing smartly, learning quickly, and scaling strategies that show real promise.