Creating a baseline
One of the key elements to the testing process that WSI follows when assisting our clients in creating an effective marketing strategy is benchmarking. Benchmarking refers to a way of comparing two elements using one as the standard and the other as the variable.
When you compare three variables to a single standard, you are using that standard as the benchmark to measure the relative performance of each variable. For internet marketing, that means that you can create one set of data from your standard variable whether that is a color, a format, or a graphic, and then compare other options to that data to determine if they are more effective at driving traffic and improving your conversion rate.
In order to use benchmarking to ensure that your marketing program is functioning as well as possible, there are five steps to follow. We'll explain here:
5 Steps to Internet Benchmarking
1. Carefully choose the question you will investigate. This is often the most difficult step for many of our clients because they are not sure where
2. Develop the testing procedure that will answer this question.
3. Decide how you will measure the results of your test. Are you looking at conversion rates? Membership subscriptions? The success of one
4. Make sure that your results are valid and relevant. At the very least, this means testing with a sufficient sample size.
5. Interpret your results with care. Do not rush to conclusions about your data because the purpose of testing is to use this data to design the best possible campaign, and that cannot be done based on incorrect interpretations.
With benchmarking, it is possible to get a better idea of what influences customers as they interact with your marketing campaign online. And if you are not setting a benchmark of data for evaluating your progress - how can you really evaluate if you are going forward or backwards?