How can AI help me to get 5 x ROI and what do the experiments consist of?
Topic summary
The original question asks how AI can deliver a 5x return on investment and what experiments to run.
Cost efficiency: Using free AI tools like ChatGPT and Claude minimizes expenses, making ROI calculations favorable.
Time optimization approach:
- Audit current workflows to identify time-consuming tasks
- Find or create AI-powered tools to accelerate these processes
Experimentation framework:
- First determine whether the primary issue is traffic volume or conversion rate
- Prioritize conversion optimization before increasing ad spend
- Identify drop-off points in the customer journey
- Analyze top 10 products with high views but low purchases
AI’s role: Functions as a powerful assistant for generating ideas and executing solutions, but requires human guidance to identify problems and strategic direction. AI helps with execution rather than problem diagnosis.
Well, if you use free versions of ChatGPT and Claude costs are next to nothing.
To 5x a time saving, audit what you do now and identify what takes the longest time.
Look to find tools (or create workflows) that speed this up.
Regarding experiments. Without knowing the specifics of your shop it can be hard to identify but use this simple formula.
Do you have a traffic problem or a conversion problem?
(Focus on one first before the other. Ideally improve conversion rates before increasing spend in areas like paid search)
Do you know what your dropoff points are?
Look to find your top 10 products with the highest views and lowest purchases in your analytics. Focus on these first.
AI can help generate ideas once you’ve identified the areas that you want to improve.
Think of it more to help execution that solve problems.
It’s a powerful assistant, but you need to guide it.
Paul
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