Conversion Rates
OPTIMIZING TECHNIQUES &
OUTPERFORMING YOUR COMPETITION

Matt McGlinn
Product Manager, Intelligence Soluti...
Today’s Agenda
• Conversion Optimization Report Highlights
•
•
•
•
•

About the report
What optimization tactics are most ...
2013 Conversion Optimization
Report Highlights

3
About the Conversion Optimization Survey
•
•
•
•
•

4

Online survey of Marketing executives (fielded Aug. 2013)
41% direc...
Marketers utilize multiple tactics to improve
conversion rates
Promotions gain
short-term wins, but
have long-term costs

...
Marketers that invest in optimization get results, but
often desire more resources to get the job done
• Marketers investi...
Customer analytics, mobile and personalization are
the highest investment priorities in the next 12 months
• Surprisingly,...
Marketers don’t know how good (or poorly) their
websites are performing
• 70% of marketers not aware of their competitors’...
Using Competitive
Intelligence to Optimize
Conversions

9
Why competitive intelligence?
• Internal data only tells your part of the story

• Knowing where you stand against your co...
Benchmarking against key rivals provides insight to
the entire market landscape

54% of
checkout starts
do not complete
an...
Head-to-head page analysis reveals opportunities for
optimization testing

12
Cross-shopping quickly identifies your strongest
competition

13
Once key competitors are established, head-to-head
comparisons will introduce opportunities

1800flowers.com

73%

avgs.
m...
Q&A

15
Thank you for joining us!
For more conversion optimization information:
• Download our 2013 Conversion Optimization Report...
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Conversion Rates: Optimizing Techniques and Outperforming Your Competition

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70% of marketers do not know their competitors’ conversion rates, nor do they know the average for their industry. If you don’t know where you stand, how do you know what you can improve?

In this webinar, you will learn about the current state of conversion optimization and discover valuable lessons that you can use when optimizing your online conversions.

You will learn:

-The results of the 2013 MBD Conversion Optimization report
-Where marketers plan to increase spend on conversion optimization in the next year
-Why competitive intelligence should be a key part of your conversion optimization efforts

Published in: Marketing, Business, Technology
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  • Very little dropout at FTD.comHuge dropout at teleflora
  • Make call outs for:Questions based separation – color barsWhite Space vs. TextShipping ChargesDelivery info as billingFacebook Login
  • So lets say you are FTD – you are more efficient in converting traffic. Great. Let’s go steal some customers
  • So lets say you are FTD – you are more efficient in converting traffic. Great. Let’s go steal some customers
  • Conversion Rates: Optimizing Techniques and Outperforming Your Competition

    1. 1. Conversion Rates OPTIMIZING TECHNIQUES & OUTPERFORMING YOUR COMPETITION Matt McGlinn Product Manager, Intelligence Solutions mmcglinn@compete.com Lauren Streisfeld Retail Consultant: Compete PRO lstreisfeld@compete.com 20 November 2013 1
    2. 2. Today’s Agenda • Conversion Optimization Report Highlights • • • • • About the report What optimization tactics are most popular? Does investment (time + money) yield results? Where are marketers planning on investing in conversion optimization Gaps in knowledge: You may not be performing like you think • Using competitive intelligence to influence optimization strategy • • • • Bridge the performance knowledge gap Use competitive data to get more resources, manage expectations and set the right goals Identify best-in-class performers… and steal what they do best! Stay Competitive: Understand to whom you are losing traffic and get it back! • Q&A 2
    3. 3. 2013 Conversion Optimization Report Highlights 3
    4. 4. About the Conversion Optimization Survey • • • • • 4 Online survey of Marketing executives (fielded Aug. 2013) 41% director level or above Median conversion rate: 2% Analysis grouped into high and low performers (2% and greater, less than 2%) Conversion activities vary, but the majority of respondents are responsible for e-commerce sales
    5. 5. Marketers utilize multiple tactics to improve conversion rates Promotions gain short-term wins, but have long-term costs 27% use more than four unique tactics 5
    6. 6. Marketers that invest in optimization get results, but often desire more resources to get the job done • Marketers investing 10 – 25% of their time on optimization are more likely to have higher conversion rates (2+%) • Similarly, marketers investing more than 5% of their budget on optimization tactics are more likely to have higher conversion rates (2+%) 6
    7. 7. Customer analytics, mobile and personalization are the highest investment priorities in the next 12 months • Surprisingly, despite well documented successes with A/B testing investment lags behind many other tactics 7
    8. 8. Marketers don’t know how good (or poorly) their websites are performing • 70% of marketers not aware of their competitors’ conversion rates 2x! 14% 7% Believe they have a below average conversion rate 8 2x+ ! 12% 5% Have conversion rate below 0.5% Believe they have an above average conversion rate Have conversion rate above 5.0%
    9. 9. Using Competitive Intelligence to Optimize Conversions 9
    10. 10. Why competitive intelligence? • Internal data only tells your part of the story • Knowing where you stand against your competitors helps you: • • • • 10 Identify your true rivals based on actual market behavior Find best-in-class performers and mimic their tactics Get more resources and help prioritize development and/or marketing Manage expectations and set the right goals for you and your business
    11. 11. Benchmarking against key rivals provides insight to the entire market landscape 54% of checkout starts do not complete and order 11
    12. 12. Head-to-head page analysis reveals opportunities for optimization testing 12
    13. 13. Cross-shopping quickly identifies your strongest competition 13
    14. 14. Once key competitors are established, head-to-head comparisons will introduce opportunities 1800flowers.com 73% avgs. more paid search volume 14
    15. 15. Q&A 15
    16. 16. Thank you for joining us! For more conversion optimization information: • Download our 2013 Conversion Optimization Report: • http://success.compete.com/2013-conversion-optimization-report-download • Learn how to optimize your online conversion funnel: • http://success.compete.com/3-steps-to-optimize-your-online-conversion-funnel • Contact us to learn more about Compete Conversion Tracker: • • 16 sales@compete.com 866-633-8390

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