Hoover Institution
How adding new video creative to an existing offer affected donor conversion rate
Experiment ID: #141361
Hoover Institution
Experiment Summary
Ended On: 03/21/2023
At Hoover, we had recently been testing video ads with a voiceover with some success. Some of our older ads did not have a voiceover and the cost to acquire a donor with those ads were increasing. We wanted to test a creative refresh (that included a voiceover) and relaunch the campaign to compare performance side by side.
Research Question
We believe that creating a new video for YouTube viewers will achieve a higher donor conversion rate.
Design
C: Control
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) ) )
Results
| Treatment Name | Conv. Rate | Relative Difference | Confidence |
---|
C: | Control | 0.02% | | |
T1: | Treatment #1 | 0.08% | 349.7% | 99.7% |
This experiment has a required sample size of 8,600 in order to be valid. Since the experiment had a total sample size of 48,000, and
the level of confidence is above 95% the experiment results are valid.
Flux Metrics Affected
The Flux Metrics analyze the three primary metrics that affect revenue (traffic, conversion rate, and average gift).
This experiment produced the following results:
0% increase in traffic
× 349.7% increase in conversion rate
× 0% increase in average gift
Key Learnings
The key learning from this experiment is that creating a new video with a voiceover for YouTube viewers significantly increased the donor conversion rate. The treatment group, which received the new video, saw a 349.7% increase in donations compared to the control group. This result has a 99.7% statistical level of confidence, indicating a high degree of certainty.
Moving forward, it is important to implement the use of voiceovers in our video ads for better donor conversion rates. This experiment demonstrates that the absence of a voiceover in the previous ads was negatively impacting the cost to acquire a donor. By utilizing voiceovers, we can potentially lower the cost per acquisition and attract more donors.
Future experimentation should further explore different elements of video ads, such as the tone and messaging, to optimize donor conversion rates. It is also essential to consistently monitor and analyze performance metrics to identify any further improvements that can be made. By continuously testing and iterating on our video ad strategies, we can maximize our effectiveness in acquiring donors and furthering the mission of the Hoover Institution.