Edited web-seminar-6-conversion-influences
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Edited web-seminar-6-conversion-influences Document Transcript

  • 1. 6"Mobile"Conversion"Influencers:" "How$eCommerce$leaders$can$create$a$winning$mobile$strategy$ $ April$2014$
  • 2. [5]$ About"Moovweb" •  Founded:$2007$ •  HQ:$San$Francisco,$CA$ •  Offices:$New$York,$London$ •  120+"customers,"200+"producCon"sites$ •  25+"billion"mobile"pages"transformed$in$2014$ •  20+"channel"partners"
  • 3. [6]$ Over$200$responsive$experiences$for$the$world’s$most$demanding$companies$ Select"Responsive"Enterprises"(Powered"by"Moovweb)"
  • 4. [7]$ Moovweb"Fastest"Growing" Mobile"PlaPorm"for"the"IR500" 4X growth in number of retailers that identify Moovweb as their mobile platform of record between 2012 & 2013.
  • 5. [8]$ Digital"Growth" Online$(digital)$revenue$growth$2013$U$2020$ Source:$Euromonitor$Interna>onal$ Forecasted$growth:$ 204%" Forecasted$growth:$ 84%" Forecasted$growth:$ 98%" Forecasted$growth:$ 88%" Forecasted$growth:$ 184%" Forecasted$growth:$ 71%" Forecasted$growth:$ 104%"
  • 6. [9]$ Mobile"ExpectaCons"Are"Rising" Devices†$$ Mobile$device$adop>on$will$grow$from…$ 153$ million$ people$ 1.2$ billion$ people$ 662$ million$ people$ 2.3$ billion$ people$ Tablets" Smartphones" 2012" Tablets" Smartphones" 2017" Applica>ons₴$ Number$of$apps$in$the$US$Apple$Store$will$grow$from…$ 233,000$ 2010" 2013" 958,000$ 2017" 10$million$ Companies‡$ In$2017,$firms$will…$ Spend$$130$billion$to$engineer$placorms$ and$processes$for$mobile$engagement$ Drive$$1.3$trillion$of$the$IT$economy$$ with$systems$of$engagement$ *Base:$4,404$US$online$adults$(ages$18+)$who$use$a$smartphone$$ *Source:$US$Mobile$Mind$Shih$Online$Survey,$Q3$2013$ †Source:$Forrester$Research$World$Smartphone$Adop>on$Forecast,$2012$To$2017$(Global);$Forrester$Research$World$Tablet$Adop>on$Forecast$2012$To$2017$(Global)$ ₴Source:$148Apps.biz,$Forrester$es>mate$ ‡Source:$August$6,$2013,$“Wanted:$Mobile$Engagement$Providers”$Forrester$report;$February$23,$2012,$“Mobile$Is$The$New$Face$Of$Engagement”$Forrester$report$ Mind*$ Of$smartphone$users…$ • $62%$expect$a$mobileUfriendly$website$ • $32%$expect$that$experience$$ $to$change$based$on$loca>on$ • $42%$expect$to$find$a$mobile$app$
  • 7. [10]$ CONVERSION"RATE"
  • 8. [11]$ The"Mobile"Conversion"Challenge" 25%"" Typical$mobile$conversion$rate$as$percentage$$ of$the$desktop$conversion$rate.$ <1%"" Typical$mobile$conversion$rate,$regardless$of$industry.$ 90%"" Percentage$of$users$that$switch$between$devices$to$complete$ a$goal$(i.e.$browsing$on$one,$purchasing$on$another).$
  • 9. [12]$ 6"Mobile"Conversion"Influences" It$is$cri>cal$to$adopt$a$holis&c$approach$to$mobile$conversion$strategy$ $ Mobile" Conversion" Audience" AddiConal"" Channels" Unique"Business" Factors" MarkeCng"&" Merchandising" OpCmized" Mobile" Experience" Continuous Improvement
  • 10. [13]$ OpCmized"Mobile"Experience" •  Every"100ms"increase"in$load$$ >me$decreases$sales$by$1%.$ •  30%"of$mobile$shoppers$abandon$$ a$transac>on$if$the$experience$is$not$ op>mized$for$mobile.$ •  57%$of$users$say$they$won’t$recommend$a$ business$with$a$poorly$designed$mobile$site.$ •  41%$have$turned$to$a$compe>tor’s$site$ aher$a$bad$mobile$experience.$ AddiConal"" Channels" Unique"Business" Factors" MarkeCng"&" Merchandising" OpCmized" Mobile" Experience" Mobile" Conversion" Audience" ConCnuous" Improvement"
  • 11. [14]$ OpCmized"Mobile"Experience" •  UX$/$UI$Design$ -  Customized$vs.$fitUtheUscreen$ -  Brand$consistency$ •  Speed$ -  Start$render$vs.$fully$loaded$ •  Features$&$func>onality$ -  Ease$of$use$vs.$“dumb$it$down”$$ “Not$having$a$mobile$op>mized$website$is$like$closing$your$store$one$day$each$week”$ –$$Google$$ AddiConal"" Channels" Unique"Business" Factors" MarkeCng"&" Merchandising" OpCmized" Mobile" Experience" Mobile" Conversion" Audience" ConCnuous" Improvement"
  • 12. [15]$ MarkeCng"&"Merchandising" •  71%"mobile$purchasing$decisions$are$most$ influenced$by$emails$from$companies.$ •  81%$of$smartphone$purchases$are$ spontaneous.$ •  Search$is$the$#1$mobile$browser$ac>vity.$ •  25%$of$all$searches$are$ini>ated$from$mobile.$ •  57%$of$consumers$who$used$a$coupon$code$ said$they$would$not$have$bought$the$item(s)$$ if$they$had$not$received$the$discount.$ •  60%"of$Tweeters$are$mobile$only.$ ConCnuous" Improvement" AddiConal"" Channels" Unique"Business" Factors" MarkeCng"&" Merchandising" Mobile" Conversion" Audience" OpCmized" Mobile" Experience" ConCnuous" Improvement"
  • 13. [16]$ MarkeCng"&"Merchandising" •  Email,$SMS,$Ad$campaigns$ •  SEO$/$SEM$ •  Compelling$deals$ -  Mobile$specific$promo>ons$$ •  Product$exclusivity$ •  Personalized$product$recommenda>ons$ •  Social$Media$ Reach the right audience at the right time with the right message (and deals!) to generate convertible traffic to the mobile site. ConCnuous" Improvement" AddiConal"" Channels" Unique"Business" Factors" MarkeCng"&" Merchandising" Mobile" Conversion" Audience" OpCmized" Mobile" Experience" ConCnuous" Improvement"
  • 14. [17]$ Audience" •  16%"of$users$who$abandon$their$cart$are$ “window$shoppers”$who$have$no$inten>on$ of$making$a$purchase.$ •  Men$are$more$likely$to$abandon$checkout$ than$women.$ " •  73%"prefer$mobile$shopping$for$ >mesaving,$69%"for$deals$+$convenience,$ 63%$for$mul>tasking.$ •  Most$cart$abandonment$occurs$between$$ 1"and"2pm"on"Thursdays." AddiConal"" Channels" Unique"Business" Factors" MarkeCng"&" Merchandising" Mobile" Conversion" Audience" ConCnuous" Improvement" Mobile" Conversion" OpCmized" Mobile" Experience" ConCnuous" Improvement"
  • 15. [18]$ Audience" Understand$the$audience$&$customize$the$mobile$experience$to$their$behaviors$&$needs.$Acknowledge$ users’$inten&on+for$using$the$mobile$site$may$not$always$align$with$preUdefined$business$goals.$+ •  Demographics:$Who$are$they?$ •  Intent:$Why$are$they$here?$ •  Behaviors:$What$are$they$doing?$$ •  Needs:$What$are$their$needs?$$ •  Context:$What$is$their$story?$$ AddiConal"" Channels" Unique"Business" Factors" MarkeCng"&" Merchandising" Mobile" Conversion" Audience" ConCnuous" Improvement" Mobile" Conversion" OpCmized" Mobile" Experience" ConCnuous" Improvement"
  • 16. [19]$ AddiConal"Channels" •  51%$of$shoppers$research$online$and$visit$ store$to$purchase.$ •  44%$research$online$and$purchase$online.$ •  17%"visit$store$first$then$purchase$online.$ •  32%"research$online,$visit$store$to$try,$then$ purchase$online.$ •  58%"of$consumers$who$own$a$smartphone$ have$used$it$for$storeUrelated$shopping.$ •  60%"of$mobile$shoppers$use$their$ smartphones$while$in$a$store,$and$another$ 50%"while$on$their$way$to$a$store.$ AddiConal"" Channels" Unique"Business" Factors" MarkeCng"&" Merchandising" Mobile" Conversion" Audience" OpCmized" Mobile" Experience" ConCnuous" Improvement"
  • 17. [20]$ AddiConal"Channels" Store$presence$impacts$mobile$conversion$by$serving$as$another$(ohen$primary)$$ channel$for$transac>on.$Consider$how$mobile$can$become$a$posi>ve$influence$$ to$complement$the$omniUchannel$shopping$experience.$ •  Physical$store$presence$ •  Desktop$site$$ •  Tablet$site$(op>mized$or$desktop$version)$$ •  Apps$$ •  Distributors$ AddiConal"" Channels" Unique"Business" Factors" MarkeCng"&" Merchandising" Mobile" Conversion" Audience" OpCmized" Mobile" Experience" ConCnuous" Improvement"
  • 18. [21]$ Unique"Business"Factors" •  43%$of$organiza>ons$see$mobile$as$a$way$$ to$reinforce$brand$iden>ty$today,$which$is$ expected$to$rise$to$86%"over$the$next$5$years.$ •  Mobile$conversions"increase"by"a" factor"of"3"during$peak$seasonal$trading$ periods.$ •  7"in"10"organiza>ons$see$a$unified$digital$ experience$as$driving$compe>>ve$advantage$&$ reduced$sale$cycles$by$endpoint$op>miza>on.$ AddiConal"" Channels" Unique"Business" Factors" MarkeCng"&" Merchandising" Mobile" Conversion" Audience" OpCmized" Mobile" Experience" ConCnuous" Improvement"
  • 19. [22]$ Unique"Business"Factors" Iden>fy$conversion$factors$unique$to$your$business$(e.g.,$brand$iden>ty,$seasonality,$ etc.)$and$op>mize$the$experience$in$accordance$with$the$shihs$in$consumer$behavior.$$ AddiConal"" Channels" Unique"Business" Factors" MarkeCng"&" Merchandising" Mobile" Conversion" Audience" OpCmized" Mobile" Experience" ConCnuous" Improvement" •  Product$/$brand$acceptance$ •  Tradi>onal$sales$experience$ •  Seasonality$$ •  Compe>>on$ •  Sale$cycles$$
  • 20. [23]$ •  Google$ran$more$than$7,000"A/B"tests"in$ 2011$alone.$ •  Digital$marketers$alloca>ng$more"of"their" budgets"to"opCmizaCon"tend$to$have$ more"success$with$their$conversion$rates.$ •  20%$increase$in$decision"simplicity" results$in$a$96%$increase$in$customer$loyalty,$ 86%$increase$in$likelihood$to$purchase,$and$ 115%$increase$in$likelihood$to$recommend.$ ConCnuous"Improvement" AddiConal"" Channels" Unique"Business" Factors" MarkeCng"&" Merchandising" Mobile" Conversion" Audience" OpCmized" Mobile" Experience" ConCnuous" Improvement"
  • 21. [24]$ ConCnuous"Improvement" AddiConal"" Channels" Unique"Business" Factors" MarkeCng"&" Merchandising" Mobile" Conversion" Audience" OpCmized" Mobile" Experience" ConCnuous" Improvement" •  Philosophy$of$con>nuous$improvement$ through$itera>ve$tes>ng$&$learning$$ •  Create$&$test$meaningfully$different$ experiences$$ •  Iterate$rapidly$–$speed$mazers$$ Build$a$culture$focused$on$making$con>nuous$improvements$through$itera>ve$tes>ng$ and$learning.$Hypothesize,$plan,$test,$and$REPEAT!$$
  • 22. [25]$ Beyond"Conversion" Key"Engagement"Metrics" !  Visits$ !  Pageviews$ !  Time$on$Site$ !  Bounce$Rate$ !  Frequency$of$Visit$$ !  Email$Sign$Up$$ Other"Ecommerce"Metrics"" !  Revenue$ !  Transac>ons$ !  Average$Order$Value$$ !  Add$to$Cart$Rate$ !  Cart$Funnel$Rate$ !  Checkout$Funnel$Rate$ Data"from"Users" !  Overall$Sa>sfac>on$ !  Feedback$on$Site$Design$$ !  Reasons$for$Visit$$ !  Requests$for$Improvements$ Broaden$your$analysis$to$include$other$key$metrics$focused$on$user$engagement,$loyalty,$ and$commerce.$Conversion$rate$is$one$of$many$ways$to$define$and$measure$digital$success!$ Mobile"Influenced"Sales"On…" !  Traffic$to$stores$(e.g.,$store$locator$usage)$ !  Desktop$purchase$ !  InUstore$purchase$ !  Customer$service$(e.g.,$tapUtoUcall$events)$ !  Brand$percep>on$
  • 23. [26]$ In"Summary…" •  Op>mize$user$experience$across$all$channels$(e.g.,$mobile,$tablet,$etc.)$$ •  Shape$your$marke>ng$&$merchandising$strategy$with$mobile$in$mind$ •  Understand$your$audience$and$respond$to$their$overall$story$ •  Analyze$mobile’s$influence$on$other$channels$–$storefront,$desktop,$etc.$ •  Tailor$experiences$to$meet$your$business$and$its$shoppers’$unique$needs$$ •  Never$stop$looking$for$ways$to$improve$–$iterate,$iterate,$iterate!"" " Audience" Mobile" Conversion" Unique"Business"Factors" •  Product$/$brand$acceptance$ •  Tradi>onal$sales$experience$ •  Seasonality$$ •  Compe>>on$ •  Sale$cycles$$ AddiConal"Channels" •  Physical$store$presence$$ •  Desktop$site$ •  Tablet$op>mized$site$ •  Apps$$ •  Distributors$$ MarkeCng"&"Merchandising" •  Email,$SMS,$Ad$campaigns$ •  SEO$/$SEM$ •  Compelling$deals$ •  Product$exclusivity$ •  Social$Media$$ OpCmized"Mobile"Experience" •  UX$/$UI$Design$ •  Speed$ •  Features$&$func>onality$ •  Brand$consistency$ •  Demographics$ •  Intent$$ •  Behaviors$ •  Needs$$$ •  Context$ Audience Continuous Improvement •  Experience$tes>ng$ •  New$feature$inheritance$ •  Create$different$versions$ •  Intelligent$rou>ng$ •  Rapid$learning$$
  • 24. [27]$ Challenges"Facing"eCommerce"Leaders" •  Lower$than$expected$conversion$rates$ •  Splintered$digital$strategy$slowing$down$the$business$ o  Slow$delivery$ o  Difficult$to$iterate,$learn$ o  Business$needs$moving$faster$than$IT$ability$to$keep$up$ o  Hard$to$deliver$custom$experiences$that$mazer$ o  Mixture$of$agencies$&$IT$causes$confusion,$delays$ •  Gaining$control$of$your$longUterm$digital$future$ This is costing billions of dollars in waste & lost business
  • 25. [28]$ Responsive"OpCons" Responsive Delivery (Cloud) •  No rewrite •  Lower TCO •  Future proof •  Best performance •  Supports apps •  Fastest learning •  Responsive for enterprises •  Quality experiences •  Better performance RESS (Server) RWD (Client) •  Unification
  • 26. [29]$ The Moovweb Platform Website Tablet Mobile Future t. engine Web Developer (and some Tritium) Web Assets, Logic and API’s Assets, Logic and API’s Transformed in the Cloud To Any Endpoint WWW
  • 27. [30]$ UnificaCon"for"" Desktop"Site" iOS"&"Android"Apps"Mobile"Site"Tablet"Site" Full$set$of$features$including$PayPal$&$“Find$A$Gih$Fast”$ available$on$all$five$endpoints$ 3+weeks+to+launch+ 8+weeks+to+launch+
  • 28. [31]$ Great"Experiences"Lead"to"Great"Results" 1800Flowers$ 3x+$increase$in$ mobile$sales$ Award:$Best$Mobile$ Retail$Site$ $ 53%$drop$in$ abandon$rate$ $ Chico’s$ 2x$increase$in$ conversions$ Belk$ 2.5x$increase$in$ conversions$ TicketWeb$ 15x$increase$in$ mobile$sales$ Under$Armour$ 2x+$increase$in$ conversions$ Macy’s$ 2.5x+$increase$in$ mobile$sales$ Award:$Mobile$ Marketer$of$the$ Year$
  • 29. [32]$ TesCng"MulCple"Experiences"Simultaneously" InUhouse$ Team$#1$ InUhouse$ Team$#2$ Moovweb$ Digital$ Agency$ Total+Site+Traffic+ Mul&ple+internal+and+external+teams+can+simultaneously+ compete+to+op&mize+key+metrics+ 2%+ Exis>ng$ Experience$ 1%+ 1%+ 1%+ 95%+
  • 30. [33]$ Results"for"Large"eCommerce"Leader" •  64%$increase$in$conversions$ •  60%$increase$in$revenues$ •  58%$increase$in$per$visit$value$ Overall$Results$$ (itera>ve$tablet$vs.$desktop$on$tablet)$ 0" 0.5" 1" 1.5" 2" 2.5" Day"1" Day"2" Day"3" Day"4" Itera0ve" Tablet" on"iPad" Desktop" on"iPad" Indexed+Conversion+Rates+
  • 31. [34]$ Moovweb"Offers" •  Deep$mCommerce$experience$ •  Incredible$design$&$quality$ •  Unmatched$>me$to$market$ •  LighteningUfast$performance$ •  Highly$secure,$reliable,$available,$scalable$ •  BuiltUin$experience$tes>ng$for$rapid$learning$ •  All$powered$by$a$cloudUbased$placorm$that$eCommerce$ leaders$can$adopt$&$leverage$themselves$to$regain$control$of$ their$digital$strategy.$
  • 32. www.moovweb.com @moovweb