conversion rate optmization

Presenter – Ashish Agrawal

Know your instructor

Ashish Agrawal MBA-IIM, Indore Digital Marketing Manager, iQuanti, Inc

He has 8 years of experience in the Information Technology and the Digital

Marketing Industry. He has worked in companies such as Tata Consultancy

Services, Syntel and iQuanti. He is currently working as a Digital Marketing

Manager and handling digital campaigns for Fortune 500 companies.

Course link: www.edureka.co/search-engine-optimization

What will you learn today?

What is CRO?

Benefits of CRO

Why testing is important?

Stages of testing

Types of testing

Hypothesis Development

Motivation

Relevance

Structure

Analysis


Subject Concepts (Agenda 1)

Conversion Rate Optimization


Conversion Rate Optimization is the method of creating an experience for a website or landing page visitors with the goal of increasing the percentage of visitors that convert into customers

Course link: www.edureka.co/abc

Benefits of Conversion Rate Optimization

Benefits Of CRO


Structured and

systematic approach of

using analytics and feedback to improve the performance

of the website

Performance of the

website can be improved by positive

movement in Key

Performance Indicators

(KPIs) on the site

It can be new customer

acquisition , newsletter signups,

downloads, registrations

etc.

CRO takes advantage of

the traffic that the site

is already receiving and driving them to desirable behaviour

This results in much better

return on investment

for the traffic that the site

is already receiving

This is a much more

cost effective process than finding more

visitors

Why Test?


History - Direct marketing with an iterative approach

Major shift in marketing enabled by digital – HIPPO vs. customers – vote with clicks

Digital marketers are brought in and, at this point, nearly all big and mid-size organizations are actively doing this

What it takes?

Technology

•Find the right tool

•Most tools are JS based and are browser-side

People

•CRO

•Design

Process

•Coherent strategy

•Clear tactics / plan

Technology | The Optimization Marketplace

• Professional CRO (conversion rate optimization) expert consulting

Services

• Optimize• Maximizer• Test and target• VWO

Tools

Important terms

Term Meaning

Call to Action (CTA) The primary button, link or other user interface element that asks the user to take an action that leads to (or towards) a conversion. A “Buy Now” button on Flipkart etc.

Conversion Funnel The primary pathway (or flow) of the user experience where visitors complete a conversion. On Amazon.com the funnel may be Home page > search results page > product page > checkout.

A/B or Split Testing The testing of one version of a page or interface element against another version of the same thing. Each element is measured by its effectiveness in comparison to the other. For example, a red button measured in effectiveness to a green button. In A/B testing only one thing is tested at a time.

Multivariate Testing (MVT) The testing of multiple variations of many different page elements in various combinations to determine the best performing elements and combinations. For example, a multivariate landing test may test many variations of the pictures, copy, and calls to action used on the page in many combinations to find the best performer.

Stages in Testing


Hypothesis Driven Testing

Gather data, onsite and

competitor, & sort

through the noise Identify

personas, value

propositions, key page/s

Establish Macro &

Micro KPI’s

RoadmapTest Plan

Execute - get quick wins &

build momentum

Iterate

Important terms

Win

Quality Lead

Inquiry


E-commerce Lead Generation

Role of Landing Page

Campaign 1Ad Group 1

Ad Copy

Campaign 1Ad Group 2

Ad Copy

Campaign xAd Group 1

Ad Copy

Campaign yAd Group 1

Ad Copy

……

Intent Group 1

IntentGroup 2

Intent Group 3

LP 1

LP 2

LP3

Conversion Funnel 1

Conversion Funnel 2

Types of Tests

Concept – an experiment testing two or more variations with one component change and is distributed randomly in a live environment

A / B A / B / n

MVT – an experiment testing multiple component changes at the same time and is distributed randomly in a live environment

Fractional Factorial (Taguchi) – Show a fraction of all possible combinations and draw conclusions Full Factorial – Show every single combination of page elements. If you have 3 page elements with 3 options

each, you would have 27 (3x3x3) combinations. If you had 4 page elements, 2 with 3 options, and 2 with 2 options you would have 36 (3x3x2x2) combinations.

Others (Optimal Design)Balance – complex doesn’t mean valuable. They are complimentary and can each be used to solve digital business problems

Approach

Before initiating a test program…

Data, data, data Do not run tests based on your gut. Spend time

gathering and sorting through important data. Numbers don’t paint the whole picture. Gather

qualitative data as well Do a competitor analysis

Plan Start big or small? Roadmap in the spirit of continuous testing Develop clear and simple test plans Sequentially optimizing the funnel – waterfall

Execute Fail fast

A/B Testing

Concept

Pros Good way to change an experience – makeover Dramatic change can mean dramatic results Doesn’t necessarily mean major

development/release cycle Cons

Long development/approval cycle 50/50 chance Limited insight into “why” it worked (or didn’t)

Multivariate Testing

Multivariate Pros

Easily isolate many small page elements and understand their individual effects on conversion rate Measure interaction effects between independent elements to find compound effects Follow a more conservative path of incremental conversion rate improvement Facilitate interesting statistical analysis of interaction effects

Cons Complexity usually means longer set up and complicated analysis MVT requires more traffic to reach statistical significance than A/B/n Major layout changes are not possible All variations need to work together so that they can be tested simultaneously The restrictions of the test setup constrain marketing creativity

Page Elements for Experimentation

Your company’s tagline

Your headline

Your introductory text

Your offer

Your guarantee

Your picture

Your readability

Your usability

Your navigation

Your products

Your pricing

Your offersYour testimonials

Your call-to-action

Your site layout

Your return policy

Sample Exercises

Exercises to develop some solid hypothesis

What’s the company's positioning? Rank the top five points you want to communicate to your visitors Consider all the different types of visitors who might view your site and then try to write for them For each page try to understand the “visitor intentions” Instead of just guessing their intentions, survey them

http://www.iperceptions.com/en/4q

What you say is more important than how you say it.

Hypothesis Development

The three key principles for a high-performing landing

page

Motivation: Does your site/landing page

mitigate confusion and motivate a visitor to act with confidence?

Relevance: Does your site/landing page

relate directly to what a visitor is searching for

and is it tailored to her?

Structure: Does your site/landing page design and layout

encourage visitors to take action?

Motivation

Best Practice Details & Rationale Examples

Urgency Inducers • Emphasize Limited Time Offers, Welcome Offers, New Customer Offer

• Use copy that instills a sense of urgency

Use a timer if a deal is limited time, emphasize words like “Today” “Now”

Barrier to Entry • Reduce barrier to entry and emphasize how short it is to complete the action

• Make flow as simple as possible, call out if there are steps to complete

• Collect information that is required, minimize data entry fields• Design form to ensure it is easy to use from a functionality

standpoint

Ensure call to action and key content is “above the fold”, shorten sign up, use greyed out copy in fields

Confidence Boosters

• Peer Validation: Ratings & reviews boost customer confidence. "Most Popular", "Most Preferred" inspires confidence in the choice.

• Business Validation: Show certification the business has for business validity

• Badging: Present “Our Best Offer, “Most Popular Offer”• Value Propositions: Check mark features to increase

psychological validation

Testimonials, BBB certificate badge, green check marks, limit number of check marks, default to option that is “most popular”

Attention Ratio • Minimize the number of interactive elements on the page (Attention Ratio = # of interactive elements on a page / # of conversion goals)

• Isolate the CTA from any other informational links

Don’t use regular site navigation, “Shut the door and close the windows”

Relevance


Message Matching • Create content to match PPC link that brought the user to the landing page

• Tailor the image and the copy to resonate with the target demographic

• Consider the traffic source of the landing page and if users are searching for branded or non-branded keywords

Page headline should compliment PPC ad, match content to target demographic (gender/age)

Personalization • Targeting and segmentation is key• Consider cookie-based opportunities such as geography and

visitor type• Is it possible to dynamically populate content based on search?

Don’t have one generic landing page, treat different visitors differently

Clarity and Brevity • Use clear and focused copy that is directly tied to the channel and the product

• Educate to the level of complexity of the page is selling

Use infographics if complex, always use simple and clear copy

Channels • The bottom line is conversion, which can be off-line• Call out the hours of operation and personalized service• Emphasize a phone number at the top of the page if the close

rate over the phone is high, but do not detract from the CTA

Emphasize phone number & track phone volume

Structure


Directional Cues • Consider where to point the prospects attention• Consider what visual cues (arrow heads, animation,

etc.) directs attention to the right location

Arrow / images points toward CTA, position CTA to the right or below the value prop

Image Coupling • Use active images demonstrating actual usage of the product / impact of product perform better vis-à-vis static images

• Plan for eye-scan continuity by orienting images to face the value prop / CTA to reinforce the messaging

Use product image, position all images toward CTA

Fluid Elements • Ensure that the various elements on the page complement each other without competing for attention

• Longer page with supporting content is good, but key content should be at the top

Long pages can be OK, too many colors can detract from CTA , simpler is better

The CTA • Address anxiety concerns in the vicinity of the CTA• Make CTA BIG• Personalize the CTA and don’t use non-specific copy

like “Submit”• Use of contrasting colors to differentiate the CTA

Highlight if signing up is free, if there is a free trial, if there is a money back guarantee

Analysis

Analyzing Data – focusing on What’s Important Data is just numbers…establishing the right KPI’s is key

Ex, GCP – Short Application (5%) vs. Long Application (2%) Ex, CHIP – Inquiry vs. Estimate

Micro vs. Macro Conversions

Confidence – the goal is 95%

http://abtester.com/calculator/

https://vwo.com/blog/ab-testing-significance-calculator-spreadsheet-in-excel/

Math: http://20bits.com/article/statistical-analysis-and-ab-testing

Critical to set up and test KPI’s properly

Use reporting in the tool!

Client-facing reports – keep it simple

Never stop testing and your advertising will never stop improving

- David Ogilvy

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