Wouldn’t it be great if you could read the minds of your customers? Sometimes, I wish I had the entrepreneurial equivalent of a crystal ball which would reveal to me the products/services that would be hits – and the ones that I should never have bothered investing time and money into.
While this crystal ball is unlikely to make an appearance any time soon, savvy business owners are doing the next best thing – gaining an insight into the behaviour and preferences of their customers with online split testing.
So what is split testing?
This is where you test two different versions of a webpage or advertisement or product name to see which is the most popular with your potential customers. Two platforms where you can conduct these simple tests are Google AdWords and Facebook advertising.
For example, you may be torn between two different names for a new product. In the past, extensive face-to-face market research would be undertaken to determine if consumers had a preference of one over the other. However, you can perform similar research with split testing online.
That’s exactly what Melbourne business Freedom Dental did this year. Marketing director Katie Koullas was responsible for rebranding the business this year including a new business name, logo and a shift in its target audience.
Koullas says: “We heavily relied on Facebook and AdWords as tools to measure consumer opinions and market research new business name/logo options. We ultimately wanted to discover if our preferred logo and branding spoke to our desired audience and if it translated into a ‘like.'”
How to read the minds of your customers
Online split testing is one of those things that often goes into the “too hard” basket, or you put it in the “one day” pile. You know, “one day I’ll get around to this when I’m not so busy”. However, it can be a powerful way to get inside the heads of your customers. When I heard the stories from these three businesses about how they used online split testing, I was inspired to write today’s Enterprise post. And no guesses as to what I’ll be doing over the Christmas holidays …. split testing!