What I learned from my second startup experiment
My name is Stan Bradbury, Founder of Graffiti (www.graffitiover.com). The individual who helped me run this experiment are Steve Sherman (https://trello.com/szsherman). The link to my specific hypothesis on trello is https://trello.com/c/fDCaXfvp.
I am part of an experimental incubator that gives startups and entrepreneurs funding in exchange for testing and sharing lean startup hypotheses.
I THOUGHT that I could increase the conversion rate of people installing my Graffiti Chrome extension at http://bit.ly/2u7Feqa in the four days beginning Oct. 11, 2017 by 50%, from 2.8% to 4.2% because I changed the Chrome Store description from four images to a video showing how Graffiti makes making memes easier and provides more tools for creativity.
ACTUALLY 55 of 1321 people did this after clicking through to the Chrome Store for a conversion rate of 4.16%. In total, 3186 potential meme creators were exposed to my AdWords campaign at an expense of $215 for an average cost to acquire a user installation of $3.90.
The MOST SURPRISING metric was the 359 click-troughs from AdWords accounted for only 27.1% of the total visitors to the Chrome Store. I BELIEVE this unpaid traffic is happening because we are now the first result when searching for “Graffiti” in the Chrome Store.
The only other variable that could have impacted the conversion rate was we created a new Instagram account for MemeWithGraffiti that has over 50 followers including many with ‘meme’ in their profile name.
The NEXT STEP is to test the cost per click rates using similar meme keywords on Reddit and Facebook to increase daily installations from 12 to 20 for the next five days. You can find that experiment on Trello at: https://trello.com/c/cwOcieoy. The funding pays for our advertising campaigns and gives us the flexibility to do a lot more A/B Hypothesis testing as we move forward.