Building a successful product comes with tons of unforeseen challenges. Having a system to measure and evaluate growth throughout the product development process is key. We’re going to use a recent case study to explore the advantages of A/B testing to growth hack your product.
Identifying Measurable Variables
In our case study, we examined the click-through rates for a website to see if certain variables had an impact. Our first step was identifying variables that we could track. We focused on male vs. female and different age groups just to name a few. This allowed us to see any significant difference between the variables being compared. If we noticed females had the highest click-through rates, then we know where to focus our attention. Although this seems to be a simple concept, it’s powerful in what it can do for your product or business.
As you’re evaluating different variables, you will begin to notice certain groups will have a lower impact. We noticed that the age group between 18-24 for our experiment have more browsing activity but low click-through rates. However, the oldest age group 44-54 group has the highest click-through rates compared to the other groups. Based on this information, we want to identify the older age group as an opportunity for growth.
It’s time to design and implement our strategy since we’ve analyzed all of the data and have uncovered the best-performing groups for age and gender. Designing an experiment that you can constantly test and measure approaches is the next main objective. We want to target groups with the highest click-through rate and create multiple campaigns that will focus on converting these groups to customers. Track all campaigns and keep the ones performing well and discontinue the low-performance tests.
Performing A/B tests in product development will help you grow and scale your product effectively. Gathering relevant data allows you to explore and Identify variables that have the highest impact on your product success or failure. Once you analyze the most important variables and uncover trends, you can begin to notice potential opportunities. The final stage is developing a strategy to implement and constantly test until you can gain traction.
Alex Brooks is the founder and CEO of AE Brooks, LLC (d/b/a, Entreprov), a Seattle-based firm that builds custom predictive analytics and automation tools to enhance a company’s performance and decision making.