Hoover Institution
How showing a well known speaker on a Facebook ad impacted conversions
Experiment ID: #176636
Hoover Institution
Experiment Summary
Timeframe: 04/20/2024 - 04/30/2024
The Hoover Institution is a public policy research center and think tank located at Stanford University in California, United States. A Hoover content offer, Dueling Populisms, showed a low CTR rate. Therefore, we wanted to test at the beginning of the funnel on the Facebook ad. Looking at previous content offers’ ad creatives; we saw ads with a photo of Victor David Hanson performed well because the audience was familiar with him. Since Dueling Populisms is written by Victor, we decided to apply that to this content offer as well.
Research Question
We believe that using a photo of a well-known speaker for Hoover’s Facebook audience will achieve a higher CTR because the familarity principle suggests that people will develop a preference to what they are familiar with.
Design
C: Dueling Populisms june 2023 -Control
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Results
This experiment has a required sample size of
3,347 in order to be valid. Since the experiment had a total sample size of
26,475, 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:
49.7% increase in traffic
× 0% increase in conversion rate
× 0% increase in average gift
Key Learnings
The key learnings from this experiment include:
- Using a photo of a well-known speaker (Victor David Hanson) for Hoover's Facebook audience resulted in a 49.7% increase in Clicks for All Traffic with a 100.0% statistical level of confidence. This indicates that leveraging familiarity with a respected figure can significantly improve audience engagement.
- Cost per Click decreased by 51.2% and Cost per Registration decreased by 40.5% with a 100% level of confidence, showing that the treatment was not only more effective in driving clicks but also more cost-efficient in converting these clicks into registrations.
- Cost per Registration decreased by 40.5% with a 100% level of confidence.
- While this did not validate, it had a CPP decrease of 81.9%
In future experimentation, it is crucial to:
- Continue leveraging the familiarity principle by featuring well-known speakers or personalities in ad creatives to drive higher engagement rates.
- Monitor cost metrics closely to ensure that any changes in ad creatives or audience targeting not only drive engagement but also remain cost-effective.
Overall, the success of this experiment highlights the importance of understanding the preferences and behaviors of the target audience, and using this knowledge to optimize future advertising strategies for the Hoover Institution.