5 Tested Ways To Increase Conversion Rates

  • 2,579 views
Uploaded on

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 …

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.

More in: Business , Technology
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
    Be the first to like this
No Downloads

Views

Total Views
2,579
On Slideshare
0
From Embeds
0
Number of Embeds
3

Actions

Shares
Downloads
35
Comments
0
Likes
0

Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide

Transcript

  • 1. 5 Tested Ways To Increase Conversion Rates
    Presented by:
    LaurentiuGhenciu
    VP of Sales & Marketing
  • 2. Who is Laurentiu?
    • Laurentiu is the Avangate’s main responsible with
    • 3. Avangate Lions & FREE Internet  [marketing]
    • 4. Making Money [sales]
    • 5. Officially : VP of Sales & Marketing @ Avangate
    • 6. Talk to hundreds of Vendors all around the world about..
    • 7. Weather
    • 8. 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
    • 9. Shopping Cart Conversion Rate [SC CR]
    • 10. Case study with a Partner Software Vendor
    • 11. More than 5 little factors tested
    • 12. Results of the tests
    • 13. How each little thing has contributed to the overall increase of the conversion rate
  • Best SC CR in the room?
    • Some say…
    • 14. 20% is good
    • 15. No, 30% is good
    • 16. What ?? 65% is good !!!
    • 17. The truth is:
    • 18. We all know it depends on so many factors !
  • Factors that can influence SC CR
    • Source and quality of traffic sent to SC
    • 19. Product quality and buy now integration
    • 20. Pricing strategy
    • 21. Marketing campaigns (running promotions, marketing programs,
    • 22. Shopping Cart loading time
    • 23. Shopping Cart design and wording
    • 24. Shopping Cart Payment Methods
    • 25. Shopping Cart cross-selling, up-selling, bundling, etc..
    • 26. Logos, certifications and guarantees present in Shopping Cart
    • 27. Ordering Support Information [Toll Free /local phone numbers, Support Languages ]
    • 28. etc, etc
  • Test 1 - Shopping Cart Loading Speed
  • 29. Test 1 – SC Template Loading Time
    • Serving content from multiple servers around the world (closer to end users location)
    • 30. Optimizing the way we serve content to the end users
    • 31. Serve cached content
    • 32. 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.
    • 33. Conversion rate increased by 2%
  • Test 2 – Cross-Selling Effects
    • For our case studyclient:
    • 34. Cross-selling was decreasing conversion rates by 2-3%
    • 35. 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
  • 36. Test 3 – Logos Matter
    • Look and feel details are important. Phishing scammers are recognized based on missed details
    • 37. Consistency between prices, titles and product options
    • 38. Help & Support Information
    • 39. Security Logos
  • Test 3 – Logos Matter
    • Trusted Partners
    • 40. 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
    • 41. Better customization of the visual elements in the shopping cart brought results of 2% increase in Conversion Rate
    • 42. Other Case Studies showed even higher increases of up to 4%
  • Tip 4, 5 – Other little elements
    • Less is more
    • 43. Splitting the ordering form according to shoppers statute company / consumer increased the conversion rate by up to 1%
    • 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. Orientation is good
    • 46. 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]
    • 47. Google Analytics + eCommerce Tracking Module [FREE]
    • 48. Omniture [THE BEST]
    • 49. Multivariate testing per template [eCommerce]
    • 50. 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%
    • 51. More factors addressed, more chances to have higher increases
    • 52. However, don’t follow others’ generic advices
    • 53. Do your own tests – your shoppers are YOUR shoppers
    • 54. Don’t forget “BEFORE/AFTER” for each test !
  • Want to know more ?
    • Articles on our blog and twitter
    • 55. blog.avangate.com
    • 56. twitter.com/avangate
    • 57. Join our free tips newsletter: Avangate Digest
    • 58. avangate.com/newsletter/
    • 59. Join our December Webinar
    • 60. 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!
  • 61. Contact
    Email
    LG@avangate.com
    Follow us on Twitter 
    http://www.twitter.com/avangate