Marketing experimentation plays a critical role in business growth for any organization. As a leading B2B growth agency, Orange Pegs partners with business owners across multiple verticals to create campaign experiments that drive results. We’ve seen firsthand the many benefits marketing experiments deliver and have helped our clients leverage the data to make informed growth marketing decisions. It’s a methodology we leverage in our own growth marketing campaigns — and you can (and should) too.
Growth Experimentation Strategy: So Much More Than A/B Testing
One of the biggest misconceptions our growth consulting team notices when working with clients is that many people initially assume that growth experiments are only about A/B testing, where two elements are tested simultaneously — or multivariate testing, where multiple components are tested at the same time.
A/B and multivariate testing are both considered marketing experiments, but they are only one type of marketing testing option. By definition, growth experiments are any channel, platform, or vehicle that asks your audience/user to tell you “yes” or “no” or what’s right or wrong about your current experience, journey, product or solution. Sometimes, those answers can be triggered through A/B or multivariate testing, but why limit your data gathering to a single resource? An experienced growth hacking team can develop a strategy that includes a wide range of experiments, such as:
- Email marketing
- Landing pages
- Website pages
- Blog content
- Paid campaigns
- Product experience (onboarding, upgrading, renewing, usage-based, customer feedback, support)
- Sales optimization
- Audience segmentation
Our Growth Consulting Team Uses Specific Standards to Define Campaign Experiments
Of course, just because something could be used as a growth experiment doesn’t mean it is an experiment. For example, companies may use blog content in campaign experimentation — but not all blogs fit the experimentation definition. At Orange Pegs, our growth consulting professionals have a standard of necessary requirements that state all marketing and growth experiments must contain a(n):
Outlining what type of experiment it will be
Predicted outcomes of testing
Detailing the context of the experiment
The measurement that demonstrates the success
or failure of the experimentation
How long the experiment will run
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A true growth experiment must include all five necessary requirements. Without all five components, the process won’t run as effectively and efficiently as it should. Additionally, tests that don’t meet all needed components could compromise the pace, depth, and overall credibility of the information gathered.
Why Every Company Needs a Growth Experimentation Strategy
Virtually every business can benefit from implementing a growth experimentation strategy. The benefits of a well-run and tracked campaign include:
(Nearly) Instant Gratification
We say marketing experimentation offers nearly instant gratification because you don’t turn the program on and learn something new immediately — but you will likely learn something new in just a matter of days. Additionally, not only will you learn things faster, but you will also learn more, sometimes unexpected things in general about your business and target audience by running experiments.
Trusting your gut is good — but trusting the data is always better. Testing your hypothesis allows our consumers to quickly validate what we may already be thinking (or assuming) internally. Testing channels, keywords, and value drivers can help quickly elevate the best options for your audience or end users.
Companies can leverage that validation to make informed decisions about product market fit (PMF) and go-to-market (GTM) strategies based on the current business state. For early-stage/startup businesses, experimentation can help determine if your targeted audience believes you have a product or solution they need. The startup growth program should focus primarily on how the market responds. The best way to do this is measuring engagement and clicks for the validation needed to determine product market fit.
For mid-stage, progressing startups, validation provides a powerful tool that can help scale the business. You’re essentially experimenting to find repeatable and scalable patterns that will ultimately create the standards for your program. Testing and validating SEO strategy, keywords, and positioning help identify the most impactful things you have to share — and the best channels for you to share them on as you build a scalable framework.
Builds (and Drives) Curiosity
Implementing marketing experimentation will help build and/or accelerate a curious and growth-centric corporate culture. When growth and curiosity are prioritized, it naturally creates more energy — especially when a growth evangelist shares learnings and outcomes. Sharing results and data organically builds program interest and momentum. As a result, others feel encouraged to participate in the process and offer more suggestions as part of the newly established internal growth culture.
Growth experimentation and marketing testing have gained significant traction over the last several years, making it highly likely that no matter your market or competitive landscape, someone else is probably already experimenting with it. As a result, running your own programs will help you keep pace with, or even outpace, the competition. And, if you’re the first in your vertical to run data-driven tests, you will have the competitive advantage of learning more than other providers in your industry.
Centralized Efforts Around North Star Metrics
Everything you are experimenting with influences your North Star Metric — the bottom line measurement of business success. Traditional digital marketing tactics often rely on surface or vanity metrics that may look good on paper but do little to move the revenue needle. Growth experimentation has a direct impact on your North Star. When executed properly, experimentation goes beyond surface measurements to provide deeper, more meaningful context under the lens of the North Star metric. Yes, the process can ultimately better connect surface measurement; however, every experiment delivers strategic elevation that all points directly to your North Star for a singular business outcome.
Orange Pegs Can Help Build Your Growth Experimentation Program
Orange Pegs helps companies develop customized growth and inbound marketing strategies to sustain and scale their operations. Schedule a call with our growth consulting team today to learn more.