With FERMÀT you can make drastic changes to how a customer interacts with a funnel to see how those changes impact your typical funnel conversion metrics.
But what types of funnel experiments should you run?
Here are a few experiment ideas you can try.
No Experiment is a Failure
Before we cover experimentation ideas, it's important to know that no individual experiment is a failure. As long as you learn something good, bad, or ugly you can apply that learning in the future.
We have a saying here at FERMÀT that you want to keep your BUILD > MEASURE > ADAPT cycles as tight as possible.
Build something quick so you can measure the results and apply those learnings to the next build quickly.
Form a Hypothesis on How to Influence a Specific Metric
The best way to come up with creative ideas to experiment with is to decide what funnel metrics you want to attempt to influence.
With FERMÀT, you can easily measure the conversion steps at each stage of the funnel as well as:
Average Order Value
Direct Revenue
Direct GMV
Revenue per Session
Overall conversion rate
And more
You are able to track how well specific products are selling in each experiment funnel. This allows you to target the sale of strategics, high-margin, or seasonal products.
Pick a funnel metric you want to influence and formulate a hypothesis on how you could influence that specific metric.
Example Experiment Hypothesis
One of my favorite experimental brands is Underdog Games. They are constantly forming new hypotheses and launching funnel experiments to prove or disprove the hypothesis.
Let's take you through one of their experiments as an example.
Underdog Games had a hypothesis that they could increase conversion rates by testing an Amazon-style experience against their top-performing video FERMÀT Funnel.
If the layout was being adopted by most Amazon sellers, maybe it could be an unlock for higher CVR.
Other Experiment Ideas
Can you get more customers to subscribe by focusing on long-form funnels that show the value of a routine?
Can you move more profitable items by bundling them with top sellers?
Can you increase conversion by tailoring PDPs to specific personas within a funnel?
Can you move more strategic products by bundling them or by offering them as upsell items?
The possibilities are endless.
Just build a new experiment, set the appropriate level of spend, and measure the results.