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Seeking Wisdom with David Cancel

#Growth 8: How to Approach Experimentation: Bite-sized Changes vs. Big Swings

Seeking Wisdom with David Cancel

Molly Sloan

Business, Entrepreneurship

5 β€’ 610 Ratings

πŸ—“οΈ 20 March 2019

⏱️ 8 minutes

🧾️ Download transcript

Summary

Today on #Growth, Matt is talking all about experimentation. Specifically how to approach changes you might make to your site or product – bite-sized or incremental changes vs. going all out with big swings. Matt breaks this down with a real-world example you've probably faced yourself – updating your homepage. There are pros and cons to both and Matt lays it all out here.

Transcript

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0:00.0

Hello and welcome to another episode of hashtag growth.

0:13.2

I am your host, Matt Pilate, the guy with a beard.

0:16.6

Although by the time this episode airs, the beard will probably be gone because I mostly

0:22.1

grow it out as a winter coat type thing to keep me warm on my walks to the office from home.

0:28.4

But as soon as it starts getting warmer, I buzz the whole thing off. So anyway, I digress.

0:33.5

Today I want to talk about two different ways to approach changes or experimentation.

0:39.5

And the two different ways are bite-sized changes or big swings.

0:44.0

So let's take this in the frame of an example.

0:47.6

So let's say you want to improve the conversion rate of your homepage.

0:51.7

And so you can make a bite size change, and you could change

0:54.5

the CTA on the page to say, get started, whereas it used to say sign up for free. Right. So you can

1:01.9

make that change. It's an incremental change. And at the end of the experiment, you'll really

1:06.2

easily be able to point back to it and say, this number moved because we changed this copy, right?

1:13.0

You can isolate perfectly what the thing was that changed.

1:16.7

What your other option is is to do what I call big swing.

1:19.9

So this is much more of an overhaul.

1:21.5

So instead of changing the CTA on the homepage, you change basically everything, right?

1:25.8

You change all the variables.

1:27.1

You design a completely new page.

1:29.7

You have a different headline, different CTAs, different colors, all that stuff.

1:33.9

And at the end of it, it gets a little bit harder to isolate exactly what it was that made

1:39.3

the difference.

...

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