5 Tested Ways To Increase Conversion Rates

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This presentation shares fresh eCommerce Best Practices for increasing Conversion Rates. It was held by Laurentiu Ghenciu, VP of Global Sales & Marketing, at Avangate during the European Software Conference(ESWC) 2009, in Berlin, Germany.

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5 Tested Ways To Increase Conversion Rates

  1. 1. 5 Tested Ways To Increase Conversion Rates<br />Presented by:<br />LaurentiuGhenciu<br />VP of Sales & Marketing<br />
  2. 2. Who is Laurentiu?<br /><ul><li>Laurentiu is the Avangate’s main responsible with
  3. 3. Avangate Lions & FREE Internet  [marketing]
  4. 4. Making Money [sales]
  5. 5. Officially : VP of Sales & Marketing @ Avangate
  6. 6. Talk to hundreds of Vendors all around the world about..
  7. 7. Weather
  8. 8. And their problems – ex: their shopping cart conversion rate, products exposure, affiliates, online market penetration, etc, etc..</li></li></ul><li>Topics Today<br /><ul><li>Old, classic, but still intriguing, never-ending story
  9. 9. Shopping Cart Conversion Rate [SC CR]
  10. 10. Case study with a Partner Software Vendor
  11. 11. More than 5 little factors tested
  12. 12. Results of the tests
  13. 13. How each little thing has contributed to the overall increase of the conversion rate</li></li></ul><li>Best SC CR in the room?<br /><ul><li>Some say…
  14. 14. 20% is good
  15. 15. No, 30% is good
  16. 16. What ?? 65% is good !!!
  17. 17. The truth is:
  18. 18. We all know it depends on so many factors !</li></li></ul><li>Factors that can influence SC CR<br /><ul><li>Source and quality of traffic sent to SC
  19. 19. Product quality and buy now integration
  20. 20. Pricing strategy
  21. 21. Marketing campaigns (running promotions, marketing programs,
  22. 22. Shopping Cart loading time
  23. 23. Shopping Cart design and wording
  24. 24. Shopping Cart Payment Methods
  25. 25. Shopping Cart cross-selling, up-selling, bundling, etc..
  26. 26. Logos, certifications and guarantees present in Shopping Cart
  27. 27. Ordering Support Information [Toll Free /local phone numbers, Support Languages ]
  28. 28. etc, etc</li></li></ul><li>Test 1 - Shopping Cart Loading Speed<br />
  29. 29. Test 1 – SC Template Loading Time<br /><ul><li>Serving content from multiple servers around the world (closer to end users location)
  30. 30. Optimizing the way we serve content to the end users
  31. 31. Serve cached content
  32. 32. Placed all images in one sprite file and optimized all Javascript requests</li></li></ul><li>Test 1 - Results<br /><ul><li>The Shopping Cart templates loading times decreased by ~3 times.
  33. 33. Conversion rate increased by 2% </li></li></ul><li>Test 2 – Cross-Selling Effects<br /><ul><li>For our case studyclient:
  34. 34. Cross-selling was decreasing conversion rates by 2-3%
  35. 35. But overall revenue increased by the same amount</li></li></ul><li>Test 2 – Test Results<br />Template A<br />No cross-selling<br />Template B<br />With cross-selling <br />Template A<br />No cross-selling<br />Template B<br />With cross-selling <br />
  36. 36. Test 3 – Logos Matter<br /><ul><li>Look and feel details are important. Phishing scammers are recognized based on missed details
  37. 37. Consistency between prices, titles and product options
  38. 38. Help & Support Information
  39. 39. Security Logos</li></li></ul><li>Test 3 – Logos Matter<br /><ul><li>Trusted Partners
  40. 40. When dealing with third party ecommerce provider, letting users know beforehand that they will be taken to another domain decreases the abandonment rate</li></li></ul><li>Test 3 – Test Results<br /><ul><li>Security logos brought an overall increase of 0.5% of the purchase funnel
  41. 41. Better customization of the visual elements in the shopping cart brought results of 2% increase in Conversion Rate
  42. 42. Other Case Studies showed even higher increases of up to 4%</li></li></ul><li>Tip 4, 5 – Other little elements<br /><ul><li>Less is more
  43. 43. Splitting the ordering form according to shoppers statute company / consumer increased the conversion rate by up to 1%
  44. 44. Taking out fields that were optional and not of big value for our vendor and annoying for the shopper increased the conversion rate by another 0.5%
  45. 45. Orientation is good
  46. 46. Adding ordering steps so the users know their position in the cart brought also average increases of another 0.5%</li></li></ul><li>All you need is…<br /><ul><li>Shopping Cart integrated with Advanced Web Analytics tools [mandatory to have Cross-Domain tracking]
  47. 47. Google Analytics + eCommerce Tracking Module [FREE]
  48. 48. Omniture [THE BEST]
  49. 49. Multivariate testing per template [eCommerce]
  50. 50. Or you may use Google Website Optimizer, but still needs to be integrated with your eCommerce provider</li></li></ul><li>Some final remarks.. <br /><ul><li>If you address only one single factor [ex: logos], SC CR may increase only by 0.5% or by up to 4%
  51. 51. More factors addressed, more chances to have higher increases
  52. 52. However, don’t follow others’ generic advices
  53. 53. Do your own tests – your shoppers are YOUR shoppers
  54. 54. Don’t forget “BEFORE/AFTER” for each test !</li></li></ul><li>Want to know more ?<br /><ul><li>Articles on our blog and twitter
  55. 55. blog.avangate.com
  56. 56. twitter.com/avangate
  57. 57. Join our free tips newsletter: Avangate Digest
  58. 58. avangate.com/newsletter/
  59. 59. Join our December Webinar
  60. 60. Any questions now ? [not too technical, please  ]</li></li></ul><li>Thank You !..and don’t try this at home , without proper guidance and tools<br />Have Fun, Have Sales!<br />
  61. 61. Contact<br />Email<br />LG@avangate.com<br />Follow us on Twitter <br />http://www.twitter.com/avangate<br />

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