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Optimizing Shopping Carts for the Holidays
 

Optimizing Shopping Carts for the Holidays

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    Optimizing Shopping Carts for the Holidays Optimizing Shopping Carts for the Holidays Presentation Transcript

    • Optimizing Shopping Carts for the Holidays6 Last-Minute Changes You can Make to Your Shopping Carts ToIncrease Conversion #webclinic
    • Today’s team Austin McCraw Jon Powell Senior Editorial Analyst Senior Manager MECLABS Research and Strategy MECLABS #webclinic
    • Marketing Automation for the Fortune 5 Million Marketing Automation for the Fortune 5 Million World-Class E-mail Complete Set of Tools Approach & Terms Marketing Core & on One Platform that Work Deliverability • Drip/Nurturing, Web • Start Simple, Automate at Analytics, Landing Pages, Your Own Pace• Third-Generation Email Forms, Scoring, CRM Marketing Platform Integration, Social Media, • Affordable Pricing; Month- Reporting and More to-Month Contracts• No extra charge for deliverability • Focus Usability, Simplicity & • Live Customer Support – At Manageability No Additional Costs www.act-on.com
    • Join the conversation on Twitter #webclinic #webclinic
    • Test your Marketing IntuitionShopping Carts 5 #webclinic
    • Test Your Marketing Intuition Version A Version B #webclinic
    • Test Your Marketing Intuition Version A Version B #webclinic
    • Test Your Marketing Intuition Summary Page Version A (no Cart Summary) Version B (inserted Cart Summary) #webclinic
    • Test Your Marketing Intuition Version A Version B #webclinic
    • An Experiment #webclinic
    • Experiment: Background Experiment ID: TP1305 Record Location: MECLABS Research Library Research Partner: [Protected]Research Notes: Background: A website that sells retail and wholesale collector items Goal: To increase conversion rate Primary research question: Which version of second step in the conversion funnel will produce the highest conversion rate? Approach: A/B variable cluster split test that focused on reducing anxiety through credibility indicators, copy, and re-organization of existing page elements #webclinic
    • Experiment: Background Fallout Report: New Customers • When we analyzed the metrics, we realized there were leaks throughout the checkout process, the credit card submission page stood out as low cost opportunity for immediate return. • When we analyzed the metrics even further, we saw that this step also had the highest lost revenue per cart (more than double any other step). • From this, we hypothesized that optimizing this step would have the highest potential return on our efforts. #webclinic
    • Experiment: Control Control Treatment #webclinic
    • Experiment: Results 5% Increase in total conversion The new credit card page increased conversion by 4.51% Design Conversion Rate Control 82.33% Treatment 86.04% Relative Difference 4.51%  What youthis specific step in theWhile it mighttoseem resulted in a projected choosing need to understand: sales funnel test like a small increase, $500,000+ increase in revenue per year. This underscores the potential impact of a properly identified research question. #webclinic
    • Strategy for the Holiday SeasonF Key Principles 1. Effective tests are not simply designed to achieve a valid result, but a valuable result. The goal of a test is to get a learning, but some “learnings” are more strategic than others. 2. Marketers must be able to identify where in the funnel is the greatest opportunity for optimization. #webclinic
    • Strategy for the Holiday Season Category Product Cart Cart Cart Cart PPC Ad Page Page (Step 1) (Step 2) (Step 3) (Step 4) 10% 6% 30% 20% 40% 10% 5% $20,000 $10,000 $300,000 $150,000 $350,000 $50,000 $10,000 (5% ROI) (0% ROI) (200% ROI) (50% ROI) (150% ROI) (20% ROI) (0% ROI) Summary Profit Analysis & Sensitivity Analysis #webclinic
    • Strategy for the Holiday SeasonF Key Principles 1. Effective tests are not simply designed to achieve a valid result, but a valuable result. The goal of a test is to get a learning, but some “learnings” are more strategic than others. 2. Marketers must be able to identify where in the funnel is the greatest opportunity for optimization. 3. For ecommerce companies approaching a holiday season, often the most opportune place for the increase is in the shopping cart for two reasons: 1. Increased Motivation Levels 2. Convergent Funnel Paths #webclinic
    • Conversion Impact Analysis Channel #1 • For many ecommerce Channel sites, the shopping cart is #2 Product standardized across the Page #1 entire website. Channel #3 • The cart is often the most Channel Product Shopping #4 Page #2 Cart visited page(s) on a Channel website, and a conversion #5 gain here impacts the Product revenue of the entire Channel Page #3 website. #6 Channel #7 #webclinic
    • Today’s Focus Today, we will discuss 6 small tweaks you can make to your shopping carts to improve conversion #webclinic
    • TWEAK #1:REMOVING UNNECESSARY STEPS #webclinic
    • Experiment: Background Experiment ID: TP1620 Record Location: MECLABS Research Library Research Partner: [Protected] Research Notes: Background: The research partner is a fitness company that primarily sells fitness training content and gym equipment. Goal: To increase sales. Research Question: Which checkout process will result in a higher conversion rate? Test Design: A/B Multifactor Split #webclinic
    • Experiment: Control Process Cart Summary FormProduct Page #webclinic
    • Experiment: Treatment Process FormProduct Page Removed Summary Step #webclinic
    • Test Your Marketing Intuition Summary Page Control (inserted Cart Summary) Treatment (no Cart Summary) #webclinic
    • Experiment: Results 29% Increase in Total Cart Conversions The Treatment path generated a 28.6% increase in cart completions Conversion Relative Design Stat. Rate Difference Control 27.7% Treatment 35.6% 28.6% 95%  Whatinyou need to understand: Bytreatment pathcart summary review step the checkout process, the removing the was able to generate 28.6% more cart completions. #webclinic
    • Not this, but this Not this LP 1 2 3 4 5 6 CONFIRM 69% Increase in Conversion But this Note: Optimized removed LP 1 2 CONFIRM two order confirmations and a cart account registration #webclinic
    • Not this, but this Not this Landing Page Account Login Reg. Form 1 Reg. Form 2 LOGO LOGO LOGO LOGO But this Landing Page Reg. Form LOGO Note: Optimized removed LOGO one cart account registration 364% Increase in Conversion #webclinic
    • TWEAK #2:ELIMINATE COMPETING OPTIONS #webclinic
    • Experiment: Background Experiment ID: TP1294 Record Location: MECLABS Research Library Research Partner: [Protected]Research Notes: Background: B2C company offering package vacations. In this test we focused on improving the checkout process. Goal: To increase cart completions Primary research question: Which cart page will generate the highest completion rate? Approach: A/B split test (variable cluster) #webclinic
    • Experiment: Control Control Cart • The original cart was simple, but it included three equally weighted options from which the visitor had to select. • This made the checkout process more cumbersome than was necessary #webclinic
    • Experiment: Treatment Treatment Cart • The marketers deemphasized and integrated the additional options into the product details. • And they visually focused the visitor on one main call too action here. #webclinic
    • Experiment: Results 37% Increase in Total Cart Conversions The Treatment path generated 36.5% more cart completions Conversion Relative Design Stat. Rate Difference Control 12.94% - Treatment 17.66% 36.5% 95%  What you from, to understand:shopping cart generated 36.5% the options to choose need the treatment By simplifying and sequencing more cart completions. #webclinic
    • Not this, but this Not this But thisLOGO LOGO 78% Increase in Conversion #webclinic
    • Not this, but this Not This But This 64% Increase in Conversion #webclinic
    • TWEAK #3:DEMONSTRATE A CLEAR SEQUENCE #webclinic
    • Experiment: Background Experiment ID: TP1621 Record Location: MECLABS Research Library Research Partner: [Protected]Research Notes: Background: The research partner is a one-stop vacation planning solution that allows users to book vacation rentals, car rentals, and activities. Goal: To increase final vacation bookings Research Question: Which page will yield the highest conversion rate from billing Information to confirmation? Test Design: A/B multifactor split #webclinic
    • Experiment: Control Control Cart • The original cart was broken into two (unclear) steps • The horizontal flow as well as the blue shading made it difficult for visitors to get a sense for the sequence of the cart. #webclinic
    • Experiment: Treatment Treatment Cart • A simple “step indicator” was added to clearly indicated which step of the process you were located. • The treatment also took the two steps, and sequenced them vertically. #webclinic
    • Experiment: Side by side Control Cart Treatment Cart #webclinic
    • Experiment: Results 36% Increase in Total Cart Conversions The Treatment cart generated 36.1% more conversions than the control Conversion Relative Design Stat. Rate Difference Control 27.4% Treatment 37.2% 36.1% 95%  What you need to understand: Byof anxiety,the sequence incare generated process and addressing key issues clarifying the treatment the checkout 36.1% more total conversions than the control. #webclinic
    • Three Critical Questions Visitor Experience Timeline What can I do here? Why should I do it? Where am I? Moment of Orientation Conversation Action First Seconds Subsequent minutes (or days) depending on sales cycle #webclinic
    • Example #1 Step indicator #webclinic
    • Example #2 Step indicator #webclinic
    • Example #3 Step indicator #webclinic
    • Example #4 Step indicator #webclinic
    • Further Changes to Orientate a Customer Other changes include: • Linear Flow • Labeled Information Clusters • Instant Price Summaries • Easy Customer Service • Specific Call-To-Action #webclinic
    • TWEAK #4:EXPRESS VALUE IN EVERY STEP #webclinic
    • Experiment: Background Experiment ID: TP1362 Record Location: MECLABS Research Library Research Partner: [Protected]Research Notes: Background: An “of the month” club that offers an ongoing subscription to products like wine and cheese. Goal: To increase shopping cart completions Primary research question: Which shopping cart will generate the most total subscriptions. Approach: A/B/C Split test #webclinic
    • Experiment: Control Control Cart • This is the first stage in the shopping cart process once someone has decided they would like to join the Wine of the Month Club #webclinic
    • Experiment: Treatment #1 Treatment Cart #1 • In all the treatments, we broke the steps into a more justifiable structure (more on this later) • But we also tested integrating points of value into the treatments. #webclinic
    • Experiment: Treatment #2 Treatment Cart #2 • For treatment 2, we tested emphasizing the value even further with specific wine descriptions for the current month. #webclinic
    • Experiment: Treatment #3 Treatment Cart #3 • For treatment 3, we expanded the value even further including a personalized letter from the vice president of product selection #webclinic
    • Experiment: Results 17% Increase in Total Cart Conversions Treatment 3 increased the rate of conversion by 18.2% Design Conversion Rate Relative Difference Control 15.6% - Treatment 1 16.5% 6% Treatment 2 17.2% 10% Treatment 3 18.2% 17%  What youthe amount of expressed valueaincorresponding relationship between need to understand: There is each treatment and conversion rates. As more value is communicated, conversion rate increases. #webclinic
    • Experiment: Subsequent pages Shopping Cart Step #2 Shopping Cart Step #3 Value was even integrated into the main form page and thank- you page. #webclinic
    • Not this, but this Not this {Keyword: [Vertical] Software} Award-Winning [Vertical] Software. Fully Integrated. Free Trial www.[Company].com/[Describe Product]But this Treatment: Step 1 Treatment: Step 2XXXXXXXXX Software Suite#1 On-Demand. 6459+ World ClientsAward-Winning Solution. Free Trial 204%www.XXXXXXXXXX.com/XXXXXXXX In overall conversion 21% 54% 97% #webclinic
    • TWEAK #5:JUSTIFY EVERY ACTION #webclinic
    • Experiment: Background Experiment ID: TP1434 Record Location: MECLABS Research Library Research Partner: [Protected]Research Notes: Background: An ecommerce site selling text books to professors in academic institutions. Goal: To increase text book purchases Primary Research Question: Which Treatment will generate the highest conversion rate for new and existing users? Approach: A/B/C Split Test #webclinic
    • Experiment: Control Control Cart – Step #1 #webclinic
    • Experiment: Control Control Cart – Step #2 #webclinic
    • Experiment: Control Control Cart – Step #3 Control Cart – Step #4 #webclinic
    • Experiment: Treatment Treatment – Step #1 Notice the copy: • “…complete registration so that we can verify your instructor status…” • “Once you have completed registration, you will be able to quickly request exam copies…” #webclinic
    • Experiment: Treatment Treatment – Step #2 Notice the copy: • “Locate the school where you teach…find your department…” • “Once verified, we will automatically ship your exam copy to this address…” #webclinic
    • Experiment: Treatment Treatment – Step #3 Notice the copy: • “This information helps our publishing program.” • “Confirm Your Order” #webclinic
    • Experiment: Treatment Treatment – Step #4 Notice the copy: • “…to make sure all of the information that has been entered is correct...” • “Send My Samples...” #webclinic
    • Experiment: Results 19% Increase in Total Cart Conversions The treatment cart flow increased generated an 18.6% increase in conversion Conversion Relative Design Rate Difference Control 33.74% - Treatment 1 40.02% 18.6% 95%  What you need to understand: By take, the treatment cart process each action the customer is required to sequencing the cart and justifying increased the rate of conversion by 18.6%. #webclinic
    • Not this, but this Not this But this Notice how every field now has clear reasons for why you should fill continue each step. #webclinic
    • TWEAK #6:INTENSIFY ANXIETY REDUCTION #webclinic
    • Experiment: Background Experiment ID: TP1305 Record Location: MECLABS Research Library Research Partner: [Protected]Research Notes: Background: A website that sells retail and wholesale collector items Goal: To increase conversion rate Primary research question: Which version of the second step in the conversion funnel will produce the highest conversion rate? Approach: A/B variable cluster split test that focused on reducing anxiety through credibility indicators, copy, and re-organization of existing page elements #webclinic
    • Experiment: Control Control What might be causing the fallout? • It is unclear why the credit card is required when payment method is different. • The complexity of the Purchase Agreement Terms’ causes confusion and concern. • There is no indication that my credit card information is secure. #webclinic
    • Experiment: TreatmentTreatment How we addressed the issues: • Third-party security indicators have been added. • Clearer explanation of why a credit card is required and that it will not be charged. • “Satisfaction Guaranteed” promise is emphasized. #webclinic
    • Experiment: Results 5% Increase in total conversion The new credit card page increased conversion by 4.51% Design Conversion Rate Control 82.33% Treatment 86.04% Relative Difference 4.51%  What youthis specific step in theWhile it mighttoseem resulted in a projected choosing need to understand: sales funnel test like a small increase, $500,000+ increase in revenue per year. This underscores the potential impact of a properly identified research question. #webclinic
    • Examples of Anxiety Reducers Specific Sources Specific Corrections 1. Quality 1. Satisfaction Guarantee 2. Reliability 2. Testimonials 3. Security 3. Third-Party Seals 4. Price 4. Low-Price Guarantee #webclinic
    • Examples of Anxiety Reducers Ease of use Product qualityCustomer satisfaction Cost justification #webclinic
    • Summary Six Tweaks to Improve Shopping Cart Conversion: TWEAK #1: Remove Unnecessary Steps TWEAK #2: Eliminate Competing Options TWEAK #3: Demonstrate a Clear Sequence TWEAK #4: Add Value in Every Step TWEAK #5: Justify Every Action TWEAK #6: Intensify Anxiety Reduction #webclinic
    • Upcoming Web Clinic Registration Page The 4 Most Startling Marketing Discoveries from 2012 Including the 3 words that changed everything for a top financial product Register Here: MarketingExperiments.com/BestOf2012 #webclinic
    • Live Optimization #webclinic
    • VALUE PROPOSITION DEVELOPMENT COURSE NOW LIVE… Learn how to: Create your own unique Value Proposition Optimize its impact and effectiveness on your audience Infuse it into all of your marketing collateral Watch the short promo video at: MECLABS.com/ValueProp #webclinic
    • SHARE YOUR ANALYTICS INSIGHTS IN 20 MINUTES OR LESS!We’re looking for your insights on: All participants will receive: – Social media – Pay-per-click (PPC) ads – Video – Email – SEO – Content – Display ad marketing MECLABS.com/survey #webclinic
    • Live Optimization Electric Fireplaces Unchangeable information: None Steps to current page: 1. PPC ads to Store front 2. Products page 3. Individual product page 4. Shopping cart page 5. Checkout page Target audience: People (probably older) looking for cost-effective ways to heat their houses and possibly reduce heating bills. Page URL: http://bit.ly/TC0pnU #webclinic
    • Live Optimization Sozo Nutritionals Unchangeable information: None Steps to current page: 1. Store front 2. Product page 3. Cart Page Target audience: Weight Loss consumers, women 18-50 Page URL: http://bit.ly/SZuDlP #webclinic
    • Live Optimization Unchangeable information: My Deco None Steps to current page: 1. Store front 2. Products page 3. Product page 4. Checkout Page Target audience: Females ages 35 to 45 in the UK Page URL: http://bit.ly/RCOGFx #webclinic
    • Live Optimization Unchangeable information: John’s Shoes Cart is flexible Steps to current page: 1. Store front 2. Product pages 3. Cart Page Target audience: Working women Page URL: http://bit.ly/TYcOEM #webclinic
    • Live Optimization Dog Collar Boutique Unchangeable information: None Steps to current page: 1. Store front 2. Products Page 3. Cart Page 4. Checkout Page Target audience: Women pet owners ages 25- 65. Page URL: http://bit.ly/RCRtP3 #webclinic
    • Live Optimization Shoco Oil Inc. Unchangeable information: Much of it is hard coded, but categories, navigation and data is flexible Steps to current page: 1. Store front 2. Catalog page 3. Product Page 4. Cart page Target audience: Lubrication users Page URL: http://bit.ly/SKfCBV #webclinic
    • Live Optimization reading glasses shopper Unchangeable information: The product price and description information Steps to cart page: 1. Store front 2. Product Page 3. Cart Page Target audience: Customers buying reading glasses Page URL: http://bit.ly/UoQlg0 #webclinic
    • Live Optimization Fresh Finds Unchangeable information: Parts of the header and footer Steps to current page: 1. Ads to store front 2. Product Page 3. Checkout 4. Add to cart pop-up 5. Cart Page Target audience: Women, 35-55, general interest in home w specific interest in cooking Page URL: http://bit.ly/SKnuTO #webclinic
    • Marketing Automation for the Fortune 5 Million Marketing Automation for the Fortune 5 Million World-Class E-mail Complete Set of Tools Approach & Terms Marketing Core & on One Platform that Work Deliverability • Drip/Nurturing, Web • Start Simple, Automate at Analytics, Landing Pages, Your Own Pace• Third-Generation Email Forms, Scoring, CRM Marketing Platform Integration, Social Media, • Affordable Pricing; Month- Reporting and More to-Month Contracts• No extra charge for deliverability • Focus Usability, Simplicity & • Live Customer Support – At Manageability No Additional Costs www.act-on.com
    • MarketingExperiments Optimization NewsletterFree subscription to more than $20 million in marketing research Join 98,000 of the top marketers from around the world as we work together to discover what really works. MarketingExperiments.com/subscribe #webclinic