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Suppliers Using AB Testing

Why Your Company Should Be AB Testing

In today’s digital age, data is everywhere. This is valuable for companies because data drives success. No matter the industry, companies know and understand that data is needed when making vital client decisions. Collecting data is crucial, but it’s how your company utilizes the data that will create value and lead to success. The key marketing tool being used by 58 percent of companies is AB testing. 

What is AB Testing?

AB Testing refers to dividing marketing campaigns into separate variables to gain a clear look at customer interactions and what resonates with your target audience. Because of the separation of variables, AB Testing is referred to as split testing. As the popular phrase goes, don’t put all your eggs in one basket. Instead, separate the eggs early on so you can come out with the golden egg. 

How Does AB Testing Work?

Whether you’re using AB Testing tools for emails, social media ads, newsletters, etc, it all boils down to the same process. Within each marketing campaign, you’re going to:

Step 1: Create The Main Goal

To know if an AB Test is successful, you’ll need to create a goal for the campaign. Are you looking to get more people to the website, more sign-ups, higher engagement; think through your options and determine the objective of the campaign. Next, create the content and media that perfectly fits the goal. You now have your control version of the split test. 

Before jumping to the next step, take the time to hypothesize different variants and how you believe they can perform better than the control. Whether it’s just an image change or a title change, it’s crucial to get a clear idea of what you believe the adjustment will attain.

Common AB Testing Tool Use:

  • Email Campaigns
  • Social Media Campaigns
  • Third-Party Lead Generation Programs

Step 2: Generate AB Testing

With AB Testing Software

Once you have the control variable and an idea of your variant, it’s time to create the AB Test. Go into the platform you will be conducting the Split Test through, and customize the variant using available tools. Most software has user-friendly AB Testing tool options that make the process easy. 

Without AB Testing Software

Don’t have AB Testing software in your marketing toolbelt? No problem, you can easily set up a split test manually. Based on your goal, you’ll create two separate emails, social ads, etc. like you would have done with AB Testing software. The only difference being that instead of having a program that tracks, monitors, and compares the data between the two, that job will be on you to complete. 

Once everything is modified, run the campaign. 

Common Split Testing Modifications:

  • Call To Action Text
  • Title Text
  • Media (Images, Video, etc.)
  • Landing Page Link
  • Email Layout 

Step 3: Analyze the Data 

When the campaign ends, you’ll have solid data on the Split Testing. You can then utilize the results for future campaigns. AB Testing, as the name implies, is a test. If the variable winds up producing a negative payoff, it isn’t a loss. It is a win for your company because you now understand your audience more. 

Understanding Statistical Significance:

When running a split test you will need to determine if your findings are significant. Statistical Significance is the notion that the results in data are not explainable by chance alone. Most A/B tests require at least 1000 data records before arriving at “accuracy.” There’s a lot that goes into analyzing the data. Whether manually or with AB testing software to determine if version B outperformed the control. 

Who Can Benefit From AB Testing Tools?

Everyone. AB Testing is a marketing strategy that any industry can benefit from using. Whether in the construction industry or food and beverage industry, it can help save your company time, money, and help gain loyal prospects. 

AB Testing Example:

Let’s say you’d like to improve responses to an email campaign.  The campaign goal is to bring awareness to your new forklift model and generate leads.  Your current email does not include a picture of the new model, only a link to a website.  You hypothesize that if you add a picture, it will improve responses. 

Time to set up the test. 

Split your email contact list into two equal amounts.  Let’s allocate 1000 contacts for the control (no picture) and another 1000 contacts for the variable (adding a picture).  Now run the email campaign and measure the results.  

Did the picture increase awareness and generate more leads?

5 Benefits of AB Testing

Reduced Risk

AB Testing allows you to test the waters before swimming. If you’re unsure about a campaign goal or simply want to test out your options, it helps marketers achieve that. Run the campaign and get insight on what works. Then, invest money into the variable that resulted positively. 

Cost Saving

AB Testing is a cost-saving technique that all companies should implement. Depending on the type of campaign you’re planning to launch, it can cost your company a lot of money. It’s better to invest your money wisely by doing an initial test with a small budget, then going off of the winning variable to launch an extensive budget campaign. 

Improved Messaging

AB Testing lets you determine the tone, CTA, headline, and content that captivates your audience best. Through different variable tests, you can improve your marketing message and develop the brand’s tone for future campaigns. 

Quick Results

AB Testing lets you know what works and what doesn’t in a fast and efficient manner. You’ll be able to see in real-time whether the assessment was a success or not and can pull the plug at any time. It gives you a quick result and allows you to allocate more time to fine-tuning your goal. 

Increased Sales

AB Testing can help companies increase conversion rates, reduce bounce rate, and is cross-functional. It can help increase sales and leads when done effectively. 

Your Current Lead Program VS 360Connect 

Now that you understand AB Testing, it’s time to put your knowledge to a real-world test.

360Connect is an online marketplace that connects buyers with suppliers in the material handling industry and 30 industries. At 360Connect, we are focused on the supplier’s success. Suppliers can count on us to provide optimum sales opportunities that can help their business succeed. To do this, we source high-quality, true-intent prospects, and deliver them directly to suppliers. Using the 360Connect Revenue Growth Program we produce great ROI for suppliers. 

We understand making the jump can be difficult. But if you’re not receiving the results you’re looking for from your current leads provider, it may be time for AB testing. And you may find that 360Connect is the winning variable you’re missing. 

To learn more about our Revenue Growth Program and how our clients achieve about a ten percent close rate on average from our leads, feel free to contact us today. 

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