Digital marketing has become increasingly competitive, but still, numerous opportunities abound. Sentient AI has been enabling e-commerce businesses to convert more traffic into loyal customers with its variety of AI technology tools. One of its latest tools is multi-variate testing, allegedly one of its best kept secrets. So, how does it work and how can it improve your e-commerce business?
What is Multi-Variate Testing?
In technical terms, multi-variate testing is a technique used to test hypothesis containing more than one variable. In digital marketing, multivariate testing is used to test multiple marketing ideas and come up with the best one. It is considered an improvement of the A/B testing AI tools.
Unlike A/B tools which test only one idea at a time, multivariate testing allows e-commerce businesses to test several marketing ideas simultaneously. What’s more, it has better analytic properties. Hence, it settles for only the best ideas. It works by using generic algorithms that are designed to ensure at least double-digit KPL growth. According to experts and users, multi-variate testing tools can improve testing speeds by 10-100 times depending on the complexity of the data being tested.
Benefits of Multi-Variate Testing for E-Commerce
The efficacy of multi-variate testing tools has made them popular with e-commerce sites seeking to improve their conversion rate optimization with amazing results. Some of the benefits of these tools are:
- Increased conversion rates
A/B CRO tools are very slow as they test only one idea at a time. However, considering that multi-variate testing increases speed by up to 100 times, it reduces testing time considerably – it can compress years of testing using A/B tools to just one month.
Considering that speed is essential in the increasingly competitive digital marketing industry, improved CRO translates to a better competitive edge.
- Improved customer experience
Considering that there are millions of sites that deal in the same products and services as you, customer experience is the determining factor for making sales. Since multi-variate testing allows you to identify the best marketing idea in the shortest time, you get to offer your customers the best experience before the competition.
- Increased revenue collection
Increased conversion rates and better customer experience both combine to attract more paying customers. As such, you get to sell more and make more money. What’s more, if you keep at it, then you can retain your customers’ attention for long-term growth and expansion of your e-commerce business.
Considering the rising levels of competition in digital marketing, you will need to stay ahead of the competition in every aspect to thrive. When it comes to increasing conversion rates, then multi-variate testing from Sentient AI is your best bet.