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E-commerce Success Stories & Recommendations - cleverbridge Networking Event (CNE)
 

E-commerce Success Stories & Recommendations - cleverbridge Networking Event (CNE)

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cleverbridge key account managers, Mike Batko and Andy Peterson provide examples and action-oriented best practices for increasing e-commerce conversion rates, average order value and customer ...

cleverbridge key account managers, Mike Batko and Andy Peterson provide examples and action-oriented best practices for increasing e-commerce conversion rates, average order value and customer satisfaction / user experience.

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E-commerce Success Stories & Recommendations - cleverbridge Networking Event (CNE) E-commerce Success Stories & Recommendations - cleverbridge Networking Event (CNE) Presentation Transcript

  • Rome 2013#CNE13E-commerce Success Stories &Recommendations
  • Who Are We?Mike Batko• Key Account Manager• 6+ years digital goodsecommerce focus• Loves livemusic, hates techno• Android4Life
  • Metrics to Be Discussed• Conversion Rate• Average Order Value• Customer Satisfaction / User Experience
  • Conversion Ratecleverbridgecalculation:SessionsofNumberOrdersPaidofNumberRateConversion
  • Conversion Rate: Agenda• Review vs. No-Review• Pricing in developing markets• Browser targeting• In-Application order process
  • Conversion Rate: Review vs. No-Review
  • Conversion Rate: Review vs. No-ReviewResults:• Typical conversion rate improvement whenswitching from a review configuration to a no-review configuration = 10-50%.• No-review configurations generally outperform thereview configuration from 20-80% over the sametime period Not apples to apples – European traffic andROW traffic can have significant differences
  • Conversion Rate: Pricing inDeveloping MarketsCountry NumberofSessionsConversionRateUSA 250,000 42%Germany 140,000 47%Japan 190,000 39%UK 60,000 38%France 75,000 40%Italy 60,000 12%Brazil 1,500 6%Russia 50,000 11%China 3,500 9%India 35,000 9%SoftwarePiracy RatesPer CapitaGDP (USD)19% 48,66526% 43,20421% 45,65926% 39,45937% 43,49048% 35,98453% 12,42263% 13,54277% 4,83363% 1,382Sources:Sessions & Conversion Rate: Sample DataPiracy Rates: Business Software Alliance “2011 Global Piracy Study”Per Capita GDP Rates: 2012 - IMF.org
  • Conversion Rate: Pricing inDeveloping MarketsUSD Currency and USA Price Point isnot ideal for the Indian market.
  • Conversion Rate: Pricing inDeveloping MarketsUSD currency andUSA price pointdisplayed to Indiancustomers
  • US Cart Indian CartConversion Rate: Pricing inDeveloping MarketsThe price point is a better fit for the market,but currency is still shown in USD
  • US Homepage Indian HomepageConversion Rate: Pricing inDeveloping MarketsExchange Rates on Sept, 22, 2012:$49.99 = Rs 2,667.91 | $69.99 = Rs 3,735.29 | $79.99 = Rs 4,275.13Symantec really has this figured out!The price point makes sense for the market and the displaycurrency is Indian Rupee.
  • Conversion Rate: Browser Targeting0510152025303540Worldwide Browser Usage - March 12 to March 13ChromeIEFirefoxSafariOperaOtherSource:Worldwide Browser Usage: April, 2013 – Statcounter.com
  • Conversion Rate: Browser TargetingBrowser Top Selling Product CategoriesInternet Explorersystem utilities, tuners, legacysoftware, B2BFirefoxB2B, cloud, web services, tech-savvy, cms/website, game/videoeditingChromecloud, web services, tech-savvy, cms/website, game/videoeditingSafariMac, audio/video editing, game/videoeditingOperaDesign, game/video editing
  • “The E-commerce Newbie”• Little online shoppingexperience• Likely prefers credit card orsimilar payment methods• Needs clear fulfillmentinstructions• Needs highly secure cart“The Digital Prodigy”• Extensive onlineshopping experience.• May prefer internetwallets, PayPal or other“newer” paymentmethods• Wants to “get it now”“The Business Buyer”• Buys on behalf of thecompany• Purchase Orders, WireTransfers• Has experience buyingonlineConversion Rate: Browser Targeting
  • Conversion Rate: Browser Targeting“The Fanboy”• Willing to pay more for brand name• Prefers walled gardens to open ones• Will buy the newest version sight unseen• Feels superior to you• Emotionally fragile
  • Conversion Rate:In-Application Order Process
  • Conversion Rate:In-Application Order ProcessDay 1 Day 2 Day 3 Day 4 Day 5 Day 6 Day 7 Day 8 Day 9 Day 10 Day 11 Day 12 Day 13 Day 14 ExpiredIn-App Conversion Rate During Free Trial PeriodConversion• Conversion Rates increase throughout the trial period• Day 1 hit counts are very high (5x-12x greater traffic) Consider special Day 1 messaging• First 7 days of trial = X average conversion rate• Last 7 days of trial = 2X average conversion rate
  • Conversion Rate:In-Application Order ProcessOriginal “Trial Activation” screenNew “Trial Activation” screen
  • Conversion Rate:In-Application Order Process• The new version appears in a pop-up window, draws user attention.• The headline is more prominent, ithighlights the benefit that hasalready been delivered.• The left-hand side is concise anddescribes the most importantbenefits.• The right-hand side reinforces theidea of your personal Apple certifiedsupport professional.In an A/B test, the new ActivationScreen showed a 7% higherconversion rate, as measured withZeoInsight.
  • Average Order Valuecleverbridgecalculation:OrdersPaidofNumberTotalOrdersPaidofValueTotalAOV
  • Average Order Value: Agenda• Backup CD• Word choice with cross-sells• Pre-cart merchandising
  • Average Order Value: Backup CD- Versus -
  • Average Order Value: Backup CD$24.99 Price PointPick rate: 17.9%$29.99 Price PointPick rate: 31.7%Time to start testing a $40.00 Backup DVD!
  • Average Order Value: WordChoicewithCross-SellsProduct names can have an impact on pick rates for up-soldproducts.Control Variable: “Software Assurance for Nitro Pro”Challenger 1: “Software Assurance for Nitro Pro – Protect your purchase!”Challenger 2: “Software Assurance + Premium Support for Nitro Pro”Challenger 3: “12 Months of Software Assurance for Nitro Pro”Challenger 4: “Software Assurance – Get Future Updates + PremiumSupport!”
  • Average Order Value: WordChoicewithCrossSellsResults:Customers seem to prefer the brevity of the control variable.All challenger variables failed to out perform the pick rate and therevenue generated from the simplistic control variable.Beware of assumptions when testing product names and textvariations – only a carefully governed split test can prove the impactof word choice variations.
  • Average Order Value: Pre-Cart MerchandisingUse positioning, colors and images to demonstrateincreasing value and a greater“cool factor” for the premium versions.
  • Customer ExperienceCalculation• Customer experience can be difficult to quantity.However, it should not be ignored.• Metrics to consider:• Cart performance• Surveys/forums• Product usage behavior• Contact/refund rates• Renewal/churn rates• Product referral rates• Evangelist activity• Others?
  • Customer Experience: Agenda• Upgrade management• Mobile targeting• User accounts• Holidays and seasons
  • Customer Experience: Upgrade Management
  • Customer Experience: Upgrade ManagementBenefits:• Real-time validation, no waiting for upgrade approval.• Improved upgrade rates.• If license key is not validated, purchase can still be madeat full price.
  • Customer Experience: Mobile Targeting0.00%1.00%2.00%3.00%4.00%5.00%6.00%Share of non-Windows trafficMac OSMiscellaneousPhoneOthersDate Mac OS Misc. Phone Others2012-04 4.05% 1.02% 0.58% 0.46%2012-05 3.30% 0.59% 0.55% 0.43%2012-06 2.76% 0.38% 0.57% 0.33%2012-07 3.36% 0.49% 0.62% 0.36%2012-08 4.29% 0.75% 0.86% 0.43%2012-09 5.52% 0.75% 0.82% 0.32%2012-10 4.14% 0.86% 0.72% 0.30%2012-11 4.08% 0.66% 0.81% 0.30%2012-12 3.36% 0.71% 1.08% 0.26%2013-01 3.35% 0.76% 0.99% 0.30%2013-02 2.80% 0.57% 1.02% 0.36%2013-03 2.79% 0.57% 1.16% 0.35%
  • Customer Experience: Mobile Targeting• Mobile traffic is serveda mobile-friendly cart.• If you’re sending lots ofemails, you shouldconsider a mobile-optimized checkout.
  • Customer Experience : User accountsWhat does this button mean to you?
  • Customer Experience : User accountsOf the top 100 grossing ecomm. websitesin 2012 a whopping 24% still required anaccount registration! (Source: smashingmagazine)
  • Customer Experience: Holidays and Seasons
  • Customer Experience: Holidays and SeasonsBenefits of holiday promotions:• “Living Website”, contest is fresh andupdated.• Leverage customer emotions.• Convey urgency for time-sensitive specialoffers.• Improve conversion rates.
  • Special Thanks
  • Thank You!Share your feedback at #CNE13