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Broadly speaking, following is the difference between A/B testing and multivariate testing:
- A/B Testing – you vary just one element of your website at a time and see which variation results in maximum conversion rate. The element to be varies could be button color, button size, headline, call to action or even completely different webpages (Split URL Testing).
- Multivariate Testing – you select multiple elements/sections on your website and create variations for all the chosen sections. On a landing page, for example, you may select call to action, ad copy and product screenshot as sections. Now for each of the section, you come up with different variations. All these variations are combined to create unique combinations of your website. If there are 2 sections, one with 5 variations and the other with 3 variations, there would be 5*3 = 15 combinations. All these combinations are pitted against each other to observe the combination which converts the maximum. During the test, it is then seen which combination results in maximum conversions.
See this article for a comprehensive list of differences between A/B testing and Multivariate testing.
Difference between A/B testing and Multivariate testing,

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