- Joined
- Oct 15, 2019
- Messages
- 1,538
...
Imagine...
You’re running a campaign and you think that it’s looking good!
It’s converting and it’s earning and you reckon you can get it profitable.
You’ve cut any zones with “2x payout and no conversions”, but now what?
What should you do about the zones with “2x payout and 1 conversion”?
And what about the one that’s breaking even with “5x payout and 5 conversions”?
Or the one that’s green (but low ROI) with “9x payout and 10 conversions”?
Should you keep testing them or cut them?
…
The good news is that there’s no ‘right’ and ‘wrong’ in this business. I mean, it’s not like you’re a cardiothoracic surgeon, so you don’t have to worry about making fatal mistakes. You can test different options and compare the results, then choose what works best.
But if you don’t like guessing, then you could also take a mathematical approach. That way, you’ll at least have a ‘scientific’ basis to your strategy. And that might give you more confidence if the guessing game is not your thing!
In fact, even if you’re the type of person who likes to ‘go with your gut’ in most situations, mathematics (and statistics in
Imagine...
You’re running a campaign and you think that it’s looking good!
It’s converting and it’s earning and you reckon you can get it profitable.
You’ve cut any zones with “2x payout and no conversions”, but now what?
What should you do about the zones with “2x payout and 1 conversion”?
And what about the one that’s breaking even with “5x payout and 5 conversions”?
Or the one that’s green (but low ROI) with “9x payout and 10 conversions”?
Should you keep testing them or cut them?
…
The good news is that there’s no ‘right’ and ‘wrong’ in this business. I mean, it’s not like you’re a cardiothoracic surgeon, so you don’t have to worry about making fatal mistakes. You can test different options and compare the results, then choose what works best.
But if you don’t like guessing, then you could also take a mathematical approach. That way, you’ll at least have a ‘scientific’ basis to your strategy. And that might give you more confidence if the guessing game is not your thing!
In fact, even if you’re the type of person who likes to ‘go with your gut’ in most situations, mathematics (and statistics in
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