You can try many components in a page with Multivariate Tests. For example, if you have two titles, two texts and two images for a promotion, you will have 8 combinations in total. You can find out which combination gives the best results by applying the Multivariate Test. Multivariate Tests require more traffic than A/B tests for the test to be accurate enough as the number of combinations is high.

Certain topics you can subject to the test are:

Pricing
Promotion
Page Layout
Text
Testing New Functionalities
Site Navigation
While performing these tests, you can use various conversion goals offered by the Google Website Optimizer for measurement. We can list them briefly as follows:

Sales
Lead
Membership
Time on Site
Clicking
It is also possible to use the Multivariate Tests seamlessly on websites where the pages are created instantly.