If you're planning an A/B test it's important to know how long to run it for to reach statistical significance. Learn you how to calculate test duration in six easy steps in Excel.
- As a marketer, you'll likely be running a lot of A/B tests…and you need to know how long to run them for…to get significant results.…We can actually calculate this in Excel.…To follow along, go to the Exercise File 2.6,…Calculating how long to run an AB test.…In order to calculate this, we need a few things first.…First is the daily average visitors,…then the number of variations.…In this case, it's an A and a B test so two.…The conversion rate.…
And then the target improvement we're trying to notice.…So you can see that we've mapped out…the formulas on the right-hand side here.…But we're going to work through these together.…First step is to take the conversion rate,…and we're going to divide that by, in brackets,…one minus the conversion rate.…Step two is to find the square root of that…using the square root function.…Step three is to take the result of step two…divide that by, in brackets, the conversion rate…times the target improvement rate.…
And then step four is to take that…to the power of two using the power formula.…
Michael begins with the basics, showing how to work with marketing data sources and explaining basic formulas for analysis. Next, he walks through how to build a data-driven marketing plan, including mapping out your marketing funnel, reviewing volume vs. cost tradeoff, and running A/B testing. Michael shows how to analyze a campaign's performance, working with PivotTables, charts, and dashboards. Finally, he demonstrates how to set up marketing campaigns in bulk, including manipulating text for ad copy generation and automating the most boring, repetitive tasks with macros.
- Cleaning up data formatting
- Using formulas for analysis
- Building a data-driven marketing plan
- Top-down vs. bottom-up marketing plans
- Running A/B tests
- Analyzing campaign performance
- Plotting data visually
- Building report templates and dashboards
- Building bulksheets for bulk campaigns on AdWords and Facebook