This past week, we live streamed Episode 70 of Friday Live, Intelivideo’s weekly live stream where we chat about all the latest news in the OTT space and tips for running a viable VOD service.
We featured an OTT news update from Precious Gellada (Marketing Coordinator), followed by tips and tricks for deploying A/B testing from Ashley Podoll (Marketing Manager). Read on below for all the top highlights from the show.
Disney is Opening Their Vault for Their New Streaming Service
During a recent episode, we touched on the upcoming release of Disney+, Disney’s new streaming service, expected to launch this year. The impending launch of Disney+ is creating some tension between Disney and Netflix, as Disney is planning to pull its content off of Netflix. By doing so, Disney is expecting to lose close to $150 million.
However, Robert Iger (CEO of Disney), announced they plan to make up for this loss by rolling out original content and all the classics in the Disney Vault to stream on Disney+. About 34 Disney classics, such as Pinnochio, Fantasia, Bambi and Alice in Wonderland, currently live in the vault and are rotated in and out over time. Disney is betting big on exclusivity and hopes this move to host all Disney content on Disney+ will draw in loyal subscribers. Iger also claims the cost of Disney+ will be substantially lower than what Netflix offers. The exact launch date and price point of Disney+ are still unknown; we will likely know more on April 11th when Disney holds their “Investor Day”.
A/B testing is incredibly useful for understanding what marketing and content strategies are working well and what isn’t. When first starting out, you’re taking your best first guess at determining your product market fit and how you’re going to effectively communicate your brand to your audience. A/B testing allows you test out your messaging and evaluate how it’s performing.
What is it?
A/B testing is essentially just taking an existing piece of content and putting it up against another piece of content, to see what performs better. To initiate an A/B test, create two similar versions of content and change certain elements, such as the headline and/or call-to-actions (CTAs). Then you test your audience and lead 50% of your traffic to Version A and the other 50% to Version B, over a specific period of time. Once the period is over, analyze which headline and CTAs yielded stronger results.
To optimize your content’s performance, you would repeat this process over and over, updating different elements of the page. It may be tedious, but if you take the time to initiate A/B testing and analyze your content’s performance, you’ll eventually see some notable results.
Here are some different assets that you can test:
- Emails: Headlines, subject lines, graphics, copy, CTAs, Buttons vs Links
- Landing Pages: Headlines, graphics, copy, form fields, CTAs
- Ads: Audience, Headline, Copy, Videos vs Pictures, CTAs
- Website: Headlines, graphics, copy, order, CTAs
Here’s how to do an A/B test:
- Decide which element you’re testing (design, copy, creative). Make sure you’re isolating each variable, one at a time. Keep your testing clean and choose something that will really move the needle.
- Make a hypothesis. You have a control and a variable with testing. Make your best guess at what you will see/how the test will perform.
- Split your traffic. Instead of sending 100% of traffic to one page, send 50% to version A and 50% to version B.
- Analyze results after a certain amount time. Run the test for around a month (not less than two weeks). You want enough traffic to make your data statistically relevant and actually mean something.
- Measure and report! Track the changes that occurred during campaigns, so you can see how you got to where you are. Isolate the time period and make note of your results. It can be difficult to understand the data after a while if you don’t report what each individual test did.
Optimizing your digital assets using A/B testing will increase performance in 4 primary ways:
- Increased traffic
- Higher conversion rates
- Lower bounce rates (where people drop off your site)
- Lower cart abandonment
However, be careful! Many marketers make the mistake of jumping to incorrect assumptions about their A/B testing results.
Take the following steps to assure you’re generating reliable data.
- Start simple. Keep it clean and meaningful.
- Isolate variables carefully. Consider why you are isolating these variables. What do you hope to do? What do you expect to see? Clearly map it out.
- Drive enough traffic for meaningful data. Make it statistically relevant.
- Look at the full picture. Don’t set your sights too narrow; pay attention to how changes are affecting different areas. Is this the traffic you want coming through? Is your messaging consistent?
- Pay attention to your audience. Keep landing pages clean; make sure one landing page doesn’t get a different audience than the other.
A/B testing can be very simple, but incredibly effective! Be thoughtful in developing your tests. Remember that every audience is different and make sure you mindfully isolate your variables.
Thanks for reading our Friday Live recap!
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