How should you structure and test campaigns in 2024 to maximize revenue?
Mindvalley Chief Growth Officer Marisha Lakhiani shared five simple testing categories that you can use to scale your revenue by as much as 10x, and you can use them yourself by following the tips below. Marisha and the Mindvalley team pivoted to a simpler funnel after iOS14 tanked their existing campaigns.
They based their new funnel around a long-form video sales letter (VSL) that reduced the sales cycle and simplified optimization:
It’s worth noting that these tests aren’t just for VSL funnels. You can use your own versions of these tests for campaigns of all sorts. In fact, these tests are fundamental for anyone who wants to scale revenue and optimize performance.
1. Pricing Tests 🏷️
Testing different pricing structures will help you find the sweet spot between customers’ perceived value and their willingness to pay. This is crucial for monetizing campaigns effectively because you never really know what your customers are willing to pay for your product until you test it.
Pricing Test Tactics:
- Introduce tiered pricing for different markets
- Test a range of prices
- Measure the impact of pricing on upsells and refunds
- Test multiple variations of order menu designs
- Add a repeating guarantee in the order menu
Marisha’s pricing tests generated double-digit improvements in Value Per Click (VPC) percentage, which she defines as the revenue generated by your funnel divided by the number of funnel sessions.
2. Layout Tests 🧩
Landing pages with clear designs, concise information, bold titles, and engaging visuals can improve conversion rates as audiences seek specific answers to their questions.
Moving sections around on your page, for example, can generate a significant uptick in conversions and VPC if you give customers the information they’re looking for sooner.
Layout Test Tactics:
- Move sections around to test the flow of the page
- Make sections collapsible based on awareness levels
- Add design elements that make the page easier to skim
- Test “copy sweeps” to make your copy punchier and reduce word counts
3. Mobile Design Tests 📱
Designing separate pages for mobile and desktop experiences and testing them independently, rather than adapting one to the other, can lead to higher VPC for both platforms. Implementing mobile-first and desktop-first pages will give you a better understanding of what your customers are experiencing as you iterate.
Mobile Design Test Tactics:
- Design for mobile first—80% of traffic will come from mobile devices
- Test your mobile and web sales page designs separately, not against each other
- Test your page for different mobile devices
4. Hooks and Creatives Tests 🪝
Testing a variety of specific hooks like testimonials, controversial statements, stage talks, and ‘dream stories’ can have a major impact on engagement and ROAS. Marisha and her team test about a dozen hooks every week to find new and effective angles that will help their creative assets skyrocket.
Hook & Creative Testing Tactics:
- Try new hooks and openings for your video creatives continuously
- Use ‘dream story’ angles that present a customer’s ideal outcome
- Bake in social proof in your creatives
5. Speed Tests 🏎️
Don’t be afraid to test unconventional strategies to align with changing consumer behaviors and stand out in the market. One trend that appears to have legs is speeding up videos, which you can try in your own ads and UGC.
Measure view rates, CTR, and ROAS to see if your new campaigns resonate. Marisha tested speeding lead generation videos up by 1.3x and saw a 15% improvement in CTR and a 25% ROAS increase.