Drive conversion increases in your own organization with a MarketingExperiments research project
By creating a customer-first science, based on the cognitive psychology of conversion, MarketingExperiments’ parent company, MECLABS Institute, has been able to help companies – ranging from startups to Fortune 50 companies – improve conversion and better serve customers.
We are still building our 2018 research calendar and are looking for companies focused on finding out why customers say “yes” in the areas of subscription, lead gen, nonprofit and ecommerce. Research partners work with our scientists to make new discoveries and drive significant increases across your funnel. Here is a recent success story.
- Do you know why prospects should buy from you instead of a competitor?
- Do you believe you’ve maximized your online conversion rate?
- Can you identify where prospects could be dropping out of your online sales process? Do you know what to do about it?
MECLABS was created to answer questions like these using a methodological approach to behavioral testing of customer interactions. We offer this service through Research Partnerships to help companies apply these discoveries to everything from marketing campaigns to entire website overhauls.
Learn The MECLABS Marketing Methodology
Flint McGlaughlin, Managing Director and CEO, MarketingExperiments and MECLABS Institute, explains 15 years of marketing research in 11 minutes, along with the inverted sales funnel.
How A Research Partnership Works
A Research Partnership is a shared responsibility and commitment to scientifically discovering how to optimize the customer journey across all touchpoints — websites, call/chat centers, advertising, email, direct mail and retail.
While each Research Partnership is customized to meet the unique opportunities and challenges faced by the Partner, the methodology is similar across all Partnerships and includes:
- Reviewing and understanding your data
- Identifying and prioritizing testing opportunities
- Executing the test plan and driving the most insight from each test to get the maximum ROI and customer discoveries to apply to future testing
See how we’ve helped companies achieve results in the latest Quarterly Digest.
While other areas of the business have leveraged techniques and tools for process improvement, from Six Sigma to Agile software development, marketing organizations have tended to rely on star performers with the “golden gut.”
MECLABS 10 optimization heuristics patented in a new test protocol have created a repeatable methodology for offer-response optimization — continually improving marketing offers & website messaging and testing real-world customer response to these improvements.
MECLABS scientists document these findings for Research Partners in a Test Protocol System that brings discipline to the behavioral testing process. This system integrates a Design of Experiments with data tracking and validation calculations to ensure all findings are a true understanding of customer behavior.
Meclabs’ Optimization Process Overview
DiscoverLaunching a Partnership with a Data-driven Approach
A successful Design of Experiments and business plan must be built on a solid foundation. We conduct discovery analyses to answer the following questions:
- Technical Capacity – What is the best approach to testing? Your platform or ours? Is your analytics program set up correctly? How do we set up a testing program swiftly and most efficiently?
- Data Analysis – What are the response rates at micro-yes decision points for your various digital paths/campaigns? How can we translate “how much” data into “why so” customer wisdom?
- Financial Analysis – Where is the best opportunity for success? If we achieve a conversion lift on a particular funnel or campaign, what does that mean in terms of revenue? A 10% lift may be much more impactful in one area than a 100% lift in another.
- Competitive Analysis – What companies are competing for the same attention, interest and clicks as you? How do they express their value proposition? And how does that compare to yours? What are they not doing that we can take advantage of?
PlanBuild a Design of Experiments
With discovery complete or at an adequate level to proceed, we take all of the contributing elements that have been organized to build out the Design of Experiments. This serves as the blueprint to prioritize and sequence the initial set of activities to ensure you capture the most impactful gains (monetary and customer insights).
The experimental design will serve as a guide for where to test, what to test and what to ask. This enables us to build an accurate customer theory which is compounded with each test result.
It balances the resources to execute the initiatives against the impacts they will generate for your business. As activities are conducted and completed, the discoveries are used to update the plan in order to maintain a high level of utility from the subsequent initiatives while considering the recent developments in your business.
PrepareExecute with a Proven, Methodical Approach
After determining where to focus experimentation, we determine what elements in the customer experience should be added, removed and changed. Every experiment is centered around a hypothesis for why a certain strategy will yield a particular result.
We will use tools such as MECLABS Conversion Sequence Heuristic that assess the psychology of how people make decisions to build the emails, websites, landing pages, advertisements, brand value propositions and lead generation strategies to effectively convert prospects into customers.
To make sure the experiments are scientifically sound, we will leverage our patented statistical models (which you’ll have access to) to predict the required duration of the tests and address potential validity threats to your test results.
Every creative in an experiment goes through an expert bench of behavioral analysts and statisticians to ensure all of the variables are properly addressing the critical elements in the consumer’s decision process.
ConductLaunch, Collect Data, and Statistical Validation
As you launch the experiments, they will follow a patented test protocol grounded in science. The protocol was built from 25 years of understanding the psychology of how people make decisions. It is structured to help you gather all of the data for accurately measuring the experiments’ financial impacts while documenting the key learnings from the patterns of your customer’s decision making processes.
In online testing, the ultimate measure of a test is its “utility.” In marketing optimization, a useful test is one that helps you predict future customer behavior. Five elements compose the utility of an experimental test:
- Proper research question
- Treatments founded on a correctly designed hypothesis
- Choosing the right primary and secondary metric to measure (and ensuring they are being measured properly)
- Accounting for all four validity effects (history, instrumentation, selection, sampling distortion)
- Gaining impactful insights through our objective and speculative interpretation process
AnalyzeInterpret Data to Prove (or Disprove) the Hypothesis
Once your test reaches an acceptable level of confidence and the results are validly certified, you’ll be able to easily present the revenue and profit increases to your leadership and support teams.
Equally as exciting, you’ll identify and interpret all of the customer insights and quickly know where to apply them across your business throughout your sales and marketing initiatives. Since these findings have been certified, you can trust that any future decisions made using this data are going to produce a positive impact.
Then we update the Design of Experiments and financial analysis and adjust our plan accordingly to ensure the experimental sequence is focused on the right and best test.
This process, followed strictly, will produce sound, valuable outcomes that only get stronger as you iterate over and over compounding all of the results.
Get more information on how to become a Research Partner
Complete the form below and a senior research analyst will reach out to you within 24 hours to set up a call to explain how a research project works, answer any questions you may have, and determine if there is a fit. During this call, we can also conduct a live optimization of your email, webpage, or funnel.