5 Tested Ways To Increase Conversion Rates

5 Tested Ways To Increase Conversion Rates
Presented by:
LaurentiuGhenciu
VP of Sales & Marketing

Who is Laurentiu?
Laurentiu is the Avangate’s main responsible with
Avangate Lions & FREE Internet  [marketing]
Making Money [sales]
Officially : VP of Sales & Marketing @ Avangate
Talk to hundreds of Vendors all around the world about..
Weather
And their problems – ex: their shopping cart conversion rate, products exposure, affiliates, online market penetration, etc, etc..

Topics Today
Old, classic, but still intriguing, never-ending story
Shopping Cart Conversion Rate [SC CR]
Case study with a Partner Software Vendor
More than 5 little factors tested
Results of the tests
How each little thing has contributed to the overall increase of the conversion rate

Best SC CR in the room?
Some say…
20% is good
No, 30% is good
What ?? 65% is good !!!
The truth is:
We all know it depends on so many factors !

Factors that can influence SC CR
Source and quality of traffic sent to SC
Product quality and buy now integration
Pricing strategy
Marketing campaigns (running promotions, marketing programs,
Shopping Cart loading time
Shopping Cart design and wording
Shopping Cart Payment Methods
Shopping Cart cross-selling, up-selling, bundling, etc..
Logos, certifications and guarantees present in Shopping Cart
Ordering Support Information [Toll Free /local phone numbers, Support Languages ]
etc, etc

Test 1 - Shopping Cart Loading Speed

Test 1 – SC Template Loading Time
Serving content from multiple servers around the world (closer to end users location)
Optimizing the way we serve content to the end users
Serve cached content
Placed all images in one sprite file and optimized all Javascript requests

Test 1 - Results
The Shopping Cart templates loading times decreased by ~3 times.
Conversion rate increased by 2%

Test 2 – Cross-Selling Effects
For our case studyclient:
Cross-selling was decreasing conversion rates by 2-3%
But overall revenue increased by the same amount

Test 2 – Test Results
Template A
No cross-selling
Template B
With cross-selling
Template A
No cross-selling
Template B
With cross-selling

Test 3 – Logos Matter
Look and feel details are important. Phishing scammers are recognized based on missed details
Consistency between prices, titles and product options
Help & Support Information
Security Logos

Test 3 – Logos Matter
Trusted Partners
When dealing with third party ecommerce provider, letting users know beforehand that they will be taken to another domain decreases the abandonment rate

Test 3 – Test Results
Security logos brought an overall increase of 0.5% of the purchase funnel
Better customization of the visual elements in the shopping cart brought results of 2% increase in Conversion Rate
Other Case Studies showed even higher increases of up to 4%

Tip 4, 5 – Other little elements
Less is more
Splitting the ordering form according to shoppers statute company / consumer increased the conversion rate by up to 1%
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%
Orientation is good
Adding ordering steps so the users know their position in the cart brought also average increases of another 0.5%

All you need is…
Shopping Cart integrated with Advanced Web Analytics tools [mandatory to have Cross-Domain tracking]
Google Analytics + eCommerce Tracking Module [FREE]
Omniture [THE BEST]
Multivariate testing per template [eCommerce]
Or you may use Google Website Optimizer, but still needs to be integrated with your eCommerce provider

Some final remarks..
If you address only one single factor [ex: logos], SC CR may increase only by 0.5% or by up to 4%
More factors addressed, more chances to have higher increases
However, don’t follow others’ generic advices
Do your own tests – your shoppers are YOUR shoppers
Don’t forget “BEFORE/AFTER” for each test !

Want to know more ?
Articles on our blog and twitter
blog.avangate.com
twitter.com/avangate
Join our free tips newsletter: Avangate Digest
avangate.com/newsletter/
Join our December Webinar
Any questions now ? [not too technical, please  ]

Thank You !..and don’t try this at home , without proper guidance and tools
Have Fun, Have Sales!

Contact
Email
LG@avangate.com
Follow us on Twitter 
http://www.twitter.com/avangate

5 Tested Ways To Increase Conversion Rates

by Avangate BV on Nov 12, 2009

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5 Tested Ways To Increase Conversion Rates — Presentation Transcript