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You need to run experiments. The one who runs the most experiments wins. BUT – most marketing experiments are done wrong. What’s missing is hypothesis driven testing across all inter-business disciplines. For each experiment create a document that contains the list items below: Hypothesis (What you expect to happen and the change to be made) Dependent variables (What are the test outcomes?) Methodology (What type of statistical test will you use on the data and why?) Sample size (How will you calculate sample size, and what is the expected number?) Analysis Plan (Which segments of data will you be analyzing? Which metrics?) Test Execution Plan (How will this test be run? Where and when?) Dependencies (What sort of resources will be needed for this test? Budget? Staff?)

  • MN

    Malaika Nicholas

    3 months ago #

    Loved reading this, especially the section about the difference between leading and lagging metrics. Really insightful!

  • MD

    Mark Anthony de Jesus

    3 months ago #

    There's a lot of great information here but this part really resonated with me:
    "Experimentation is essentially risk management. Would you rather move forward with your multi-million-dollar campaign strategy with the foundation for success resting on nothing but a hope and a prayer? Or would you feel far more confident in a massive business initiative if you’d already found enormous success within a test sample?"

    We all have limited resources (time/money/energy) at our disposal and we all need to be smart about what to double down on what to ignore.
    A habit of testing ensures that this is the case,

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