How to Run Marketing Experiments The Right Way with Nicolás Vargas @Nikovacr #vcbuzz

Digital marketing is an on-going process.

You are never actually done and you cannot rely on the same marketing tactics over and over again.

How to remain ahead of your competition and keep seeing positive results from your marketing efforts?

You need to keep experimenting.

Marketing experimentation is one of the toughest tasks out there. Let’s discuss how to do it right!

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About Nicolás Vargas @Nikovacr

Nicolás Vargas @Nikovacr has been helping eCommerce, B2B & SaaS businesses develop growth marketing strategies to acquire, retain and convert users for 8+ years

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Questions we discussed

Q1 How did you become a digital marketer? Please share your career story!

I studied Industrial Engineering, got introduced to digital marketing by a class on my last year in college and I fell in love with it, have been doing it for 10+ years now.

At the start of my career I was working mainly with user acquisition and as I got more experience I transitioned into a more holistic role where I’m responsible to look at the whole user journey from a marketing perspective.

Q2 What is marketing experimentation and how to run marketing experiments the right way? What do we test?

Marketing Experimentation is a process inspired by the “scientific method” that is used by marketers to support or disprove assumptions or hypotheses.

It’s a powerful tool for marketers because it gives a them a solid framework to prioritise and assess the effectiveness of their marketing activity (actions, tactics, etc)

6 steps process to run marketing experiments:

  1. Goal Setting – It all starts with what you want to achieve
  2. Ideation: Brainstorm potential solutions for your goal or challenge
  3. Prioritisation: Prioritise Solutions based on impact & ease of implementation
  4. Experiments Design: Formulate your hypothesis, develop your minimum viable campaign & define metrics of success
  5. Execution: Agile execution of your experiments (Progress documentation is critical)
  6. Analysis: Results analysis and knowledge sharing

What Do we Test? Experiments should be categorized based on their impact in the marketing funnel and should be defined by a realistic business goal – See examples below

  • Acquisition: What can I do to attract more people? CAC<LTV
  • Retention: What can I do to retain more people? Visitor to Subscriber, Subscriber to Customer
  • Monetisation: What can I do to increase my AOV?

Q3 What makes a good marketing experiment?

  • Inspired by a real business or marketing problem
  • Simple
  • It provides a good real representation of your audience’s situation (unbiased)
  • It uses qualitative and quantitative data
  • It’s easily verifiable (proof or disproof a hypothesis)

Q4 Are there any good public examples of good marketing experiments to learn from?

There are lots of examples out there. Most of the stuff online are experiments run by tech companies. Marketers can find inspiration in terms of the process & methodology used by companies like Uber, Airbnb, Pinterest & Evernote (see resources below):

Q5 What are your favorite marketing experimentation tools?

  • @NotionHQ or @googlesheets for Experiments Design & Documentation
  • Web Analytics Tools like @googleanalytics for Quantitative Data
  • Google Forms Or @SurveyMonkey for Qualitative Data. Experimenting with various web form templates will help you find best-performing layouts
  • @tableau and Python – Data Analysis (Only relevant for big amounts of data)
  • Google Optimize or @Optimizely for Ab testing
  • @hotjar and @fullstory for Heatmaps & Behavior Analytics

Our previous digital marketing chats:

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