Which ad copy is better at influencing sales?
Regardless of whatever ‘Call to Action’ you use to try and influence sales on your website, there is probably one that statistically works better than others. If everything else stayed the same on the webpage (i.e. products, content) and the only factor that changed was the Ad Copy itself, you can compare the volume of orders placed when each ‘Call to Action’ was used by using a one-way Anova. A one-way Anova will tell you if one ‘Call to Action’ was statistically better than the others.
Okay, what if I was selling products on various days?
In this situation, two factors (the ‘Call to Action’ and the products being sold) are influencing orders. When two factors might influence a dependent variable, a two-way Anova (analysis of variance) can be used to determine which, if any, of the factors have a significant influence on the dependent variable. To see step-by-step written, audio and video instructions on how to perform the one-way and two-way Anova, refer to the Ad Copy Insight Analysis offered by Smart Digital Spending. An Excel spreadsheet along with sample data will take you from beginning to end on how to perform this analysis. Length of video is 12 minutes and there are 8 pages included in the written instructions.
Included in the Ad Copy Insight Analysis is a BONUS = Predict orders using the equation below:
Predicted orders = Overall Average + (Product Effect) + (Ad Copy used)