Test&Target from Adobe (previously from Omniture) is probably the best tool in the market for testing and optimizing websites.
Here are listed some of the key features of T&T tool.
A/B, Multivariate Testing          - Test content on site, in email and in display ads
 - A/B testing facilitates fast and accurate design selection
 - Multivariate testing allows for testing many elements and variations with smaller traffic requirements and fewer combinations
 - In-depth reporting reveals the combination of elements that leads to the greatest lift in conversion
 - "Push winner" functionality converts winning test scenarios with a single click to standard content for all audience segments
 
Ad Testing          - Track ad impressions and their impact on conversion
 - Optimize ad content and compare multiple creative options, adjust to serve more of the winning creative
 - Track clicks to monitor ad performance in real time, from first click to final conversion
 - Coordinate ad tests across multiple ad networks or publishers
 - Track view-throughs
 - Combine ad testing with cost and revenue tracking to quickly see real-time revenue for a given ad
 
            Visual Application Management          - Design tests directly on the site just as visitors will experience them
 - Immediately visualize how customers experience a test, giving real-time insight for increasing content relevance
 - Onsite testing capabilities work without any special configuration or implementation
 
      Effective Targeting          - Target content to different groups of visitors based on marketer-defined segments
 - Target audience segments based on URL, geography, profile and visitor behavior
 - Maintain consistency of targeted offers from offsite exposure (display ads, email) through to onsite activity
 - Flexibility to market broadly to a segment of visitors or to  define parameters for stricter targeting to a very specific visitor set
 - Break out conversion data per targeted group with reporting segment filters
 - "Targeting groups" allow marketers to reuse commonly created targeting rules—reducing rework
 
      Automated Predictive Learning          - Each visitor and click is scored individually, so targeted offers can be served based on a visitor's unique interests
 - Create extensible customer profiles that include offline data,  such as product holdings, credit score, time on file and other  non-personally identifiable information
 - Import external customer profiles in real time for heightened relevance
 
      Automated Campaign Management          - Automatically direct site traffic in response to visitor  behavior, factoring in variables such as time of day, email  communications or product promotions
 - Self-optimizing campaigns ensure that the most effective  targeting scenarios are shown more often, accounting for environmental  or seasonal changes
 - Automatically promote the best performing scenarios to improve conversions for specific audience segments or across the site
 
      If you are using Test&Target you may find useful the following User Guide Book on Test&Target:
 
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