Hey,
Here at Optimove, we pride ourselves on enabling marketers to not only execute campaigns but also easily analyze their results to determine whether they are successful. We believe it’s important for you to go beyond simple metrics, such as opens and clicks, and measure success in terms of impact on business KPIs.
As with any analysis, the way the available campaign data is processed and displayed determines which conclusions can be drawn. Without a proper solution to do this quickly and automatically, it can be very difficult to determine which marketing efforts generate the best ROI.
Let’s take a look at some of the most fundamental questions marketers have, and how you can answer them using Optimove.
Cheers,
Shai Frank
VP Product, Optimove
Is the campaign working?
This is the most fundamental question that every marketer should have a burning desire to answer. While the question is simple, answering it is not trivial.
At Optimove, we believe that the key to determining the true effectiveness of any customer marketing campaign is the proper use of control groups.
With Optimove, you can easily understand how well Test/Control campaigns are working, by viewing their Campaign Analysis page.
By checking if the campaign is working, am I missing out on potential gains?
The answer to this question is… it depends.
If, through using a control group, the campaign has proven itself to be effective, then probably the smaller the control group, the higher the uplift will be.
However, if the campaign results are still inconclusive, then the larger the control group, the faster you could reach statistical credibility.
So you’re probably asking yourself “how many customers should I allocate to the control group?”, and “if the campaign has proven itself to be effective, do I still need a control group for its future iterations?”
Optimove answers these questions automatically! Simply set your campaigns to use Automatic Control Group Size, and Optimove will gradually reduce the size of the control group of effective campaigns, or increase it to reach faster significance.
Which marketing message works best for my audience?
This question is often answered using an A/B/N campaign. This campaign type is comprised of two or more competing actions plus a control group.
Using Optimove’s A/B/N campaign analysis, you can decide on a clear winning action.
Which marketing message works best for each individual customer?
The limitation of using A/B/N campaigns is that they assume the world is only black or white, while we all know there are plenty of greys. Standard A/B tests use a “winner takes it all” approach, and deploy the winning action to the entire audience.
In reality, the overall winning message might not work so well for a subset of your audience. Maybe the losing action is in fact better for these specific customers. So why pay the cost of generalization?
Unlike standard A/B/N campaigns, Self-Optimizing Campaigns automatically deploy the best alternative for each micro-segment in the target group according to the actual response patterns. This way they ensure you are sending the most relevant message to each customer.
Which combination of campaigns works best?
Sometimes, the whole is greater than the sum of its parts.
It’s imperative to understand what is the impact that an entire marketing strategy, comprised of many individual campaigns, has on the business.
With Optimove, you can answer this question using Streams. Streams let you observe the results of how a series (a “stream”) of multiple campaigns perform together (such as your Welcome series), in comparison to alternative multiple-campaign streams or to a static control group.