Explore definitions of key terms and tools in marketing analytics, reporting, and conversion rate optimization.
Multivariate testing is a statistical experimentation approach in marketing that evaluates multiple combinations of creative elements at once within the promo material or website to maximize a metric like conversions, sign-ups, click-throughs, etc. A variety of creative variables are tested at once and the multivariate experiment will determine which combination of variables delivers the best results among the tested group. This differs from A/B testing, where a single variation is tested alongside the original.
Website A/B testing is a method within marketing that evaluates the performance of two different versions of a website page, feature, or template in order to determine which version provides a better user experience and achieves better conversion rates. A/B testing helps website owners make data-driven decisions to optimize the design and functionality of their site, improve engagement and conversion, and enhance the overall user experience.
Bounce rate is the number of single page sessions divided by the number of total sessions for a given landing page. That is to answer the question: For this landing page, what is the % of users who landed on this page and decided to leave?
Conversion rate optimization (CRO) is a marketing discipline that focuses on increasing a percentage of users who take a desired action on a website or landing page. CRO leverages data-analysis and UX best practices to develop website update and A/B testing recommendations in an effort to increase conversions (form submits, purchases, etc.) without increasing the quantity of traffic from a campaign.
Google Looker Studio (Formerly “Data Studio”) is a data visualization and reporting platform that allows users to create custom dashboards and reports from their data. It offers a wide range of visualization options and integrates with many popular data sources, making it a powerful tool for data exploration and analysis.
Click-through rate (CTR) is a key metric used in digital marketing to measure the effectiveness of an online advertising campaign. It is calculated by dividing the number of clicks on an ad by the number of impressions, or the number of times the ad was displayed. For example, if an ad was displayed 100 times and received 10 clicks, its CTR would be 10%.
