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Creating Value Testing
- 1. Creating Value Testing Geoff Wolf, EVP, J.Schmid & Associates Jude Hoffner, Principle, Hoffner Marketing
- 2. Agenda • Why Test • Extracting Value from Testing • Communication • Q/A
- 3. Agenda • Why Test • Extracting Value from Testing • Communication • Q/A
- 5. Why Test 1) Distinguishing advantage of direct marketing
- 6. Why Test “If you’re not improving…”
- 7. Why Test 2) Essential for survival
- 8. Why Test 27% 25% 17% 15% 11% 71% 77% 83% 87% 91% 2000 2003 2006 2009 2012 Items Sales E-Comm Mobile
- 9. Why Test
- 10. Why Test 3) Isolate Valuable Practices
- 11. Why Test 3) Isolate ValuablePractices
- 12. Why Test Testing + Testing = Value Testing + Answers = Value
- 13. Agenda • Why Test • Extracting Value from Testing • Communication • Q/A
- 14. Extracting Value Starts with What to test
- 15. Extracting Value Nice to Know… Vs. …Need to Know
- 16. Extracting Value Nice to Know… May not be actionable in future
- 17. Example Nice to Know… Beware Creative tests! The 2013 Blue Cover! The 2013 Red Cover! The 2014 Cover Must be Green or White!
- 18. Extracting Value Demand Cultivate accountability for test ideas
- 19. Extracting Value Need to Know Actionable Relevant Repeatable And delivers ROI
- 20. Extracting Value Need to Know… …delivers ROI Offers = Conversion
- 22. Extracting Value Need to Know… …delivers ROI Contact Strategies = Margin
- 23. Example
- 24. Extracting Value Need to Know… …delivers ROI Channel mix/preference = Engagement
- 25. Example
- 26. Extracting Value Need to Know… …delivers ROI Doesn’t always have to be an A/B test.
- 27. Extracting Value Let’s talk about your data…
- 28. Extracting Value The Obvious • Ensure randomized selection • Create two controls when possible • Manage long tests carefully to preserve valid results
- 29. Extracting Value The Less Obvious Think ahead! …about what you’re reporting and to whom
- 30. Extracting Value Must be organized AND Communicate Clearly!
- 31. Example
- 32. Example
- 33. Example Ok if testing for $/Bk
- 34. Example Not Ok if testing for Contribution
- 35. Q & A
Editor's Notes
- Increasing pressure to get merchandise selection right
- Important to challenge how the results will be applied in the future
- Results when mailed a catalog. What’s going on here? When they click thru an email recently, they’re less likely to make a purchase in the following 8 weeks??
- For example, add an item to back ordered item and get free shipping is just a cool test, but there’s no control. It either works or doesn’t, and there’s nothing special to measure.
- Control/Test not descriptive
- 10 minutes