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Beginners Guide to Conversion Rate Optimisation (CRO)
This document provides an overview of conversion rate optimization (CRO). It discusses defining goals and key performance indicators. Various tactics for optimizing conversions are presented, including A/B testing, understanding customer journeys, segmentation, and taking advantage of opportunities. The importance of measurement and different digital marketing channels are covered. Examples of customer journeys and benchmarks for ecommerce conversions are also included. Throughout, the focus is on improving visits, conversion rates, and average order value to increase overall revenue.
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Beginners Guide to Conversion Rate Optimisation (CRO)
- 1. @SagittariusMktg A Beginners Guideto Conversion Rate Optimisation
- 2. agenda. › the basics ›‘model behaviour’ › lets start at the very beginning - goals › the journey › measurement & analytics @SagittariusMktg
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- 5. example customer journey1 @SagittariusMktg › Liam – 30 – avid traveler › 3,000 online travel interactions in 1 month › Specific searches around New York & a specific hotel › However continued to review other hotel options
- 6. example customer journey2 @SagittariusMktg › Arthur – 66 - retired › Researches on mobile › 50% of interactions on mobile › Uses loyalty schemes and deals › Loyal to a brand › Books with a travel agent offline
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- 10. how can youachieve it? @SagittariusMktg 1. A/B and multivariate testing 2. understanding your customers 3. abandonment and customer journey analysis 4. segmentation 5. take advantage of opportunities 6. resource and planning
- 11. @SagittariusMktg where do thechannels fit. Social Paid Search & Remarketing Natural Search Social Website
- 12. how do wedo it? @SagittariusMktg The Model
- 13. 200,000 visits 2,000 orders 1% conversion rate £1,000 aov how do weincrease revenue? @SagittariusMktg = £2m
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- 15. 200,000 visits 2,000 orders 1% conversion rate aov increase average ordervalue. @SagittariusMktg £2,000
- 16. 200,000 visits 2,000 orders conversion rate £1,000 aov improve conversionrate. @SagittariusMktg 2%
- 17. in reality, it’sa combination. @SagittariusMktg
- 18. 250,000 visits 3,125 orders conversion rate £1,280 aov visits, conversionand aov. @SagittariusMktg 1.25% = £4m
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- 20. @SagittariusMktg goals – helpus to achieve 1. define goals 2. define strategies 3. agree tactics/implementation 4. define Key Performance Indicators (KPIs) 5. deploy through appropriate channels
- 21. 500px.com prioritising goals andcontent. @SagittariusMktg
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- 24. “The path topurchase, from start to finish, is rarely linear—it's more akin to a scavenger hunt.” @SagittariusMktg Source: Google Trends
- 25. 25 Digital touchpoints Physical touchpoints AWARENESS CONSIDERATION ACTIONSERVICE LOYALTY TV Radio Print Outdoor PR Word of mouth Direct mail Store Call center Call center IVR Promotion on invoice Online Ads Viral email Digital billboards Search Landing page Blog 3rd Party sites Website Mobile IM/Chat Blog Email Newsletter Managed touchpoint Unmanaged touchpoint Customer 3Customer 2Customer1 Decisions Are Not Made in Straight Lines take a look. @SagittariusMktg
- 26. @SagittariusMktg path to purchase 7simple steps to engage your consumers on their path to purchase.
- 27. @SagittariusMktg STEP 1: considerlocation and convenience.
- 28. @SagittariusMktg Reassuring with stock checkfor reserve or delivery
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- 30. @SagittariusMktg STEP 2: nurturethe consumer.
- 31. @SagittariusMktg 76% “It inspiresme to try new things.” 73% “It opens my eyes to new perspectives and ideas.” Yahoo Return on Inspiration study content is a vehicle for inspiration
- 32. six steps tomaking inspiring content 1. aestheticallypleasing. 2. knowledgeempowers. 3. tell,realcompellingstories. 4. showpositiveintent. 5. notrust,noinspiration. 6. Keepitsimple. @SagittariusMktg
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- 35. @SagittariusMktg STEP 3: expectthat search will lead to discovery.
- 36. @SagittariusMktg REMARKETING • Remarketing helpsbring back consumers to the website. • This can be done through many channels such as Facebook and Google ads. • The content then can be more relevant. • CTR is always better with remarketing as they have already visited and engaged with your site.
- 37. @SagittariusMktg STEP 4: thinkabout complementary categories.
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- 39. @SagittariusMktg STEP 5: preparefor the unexpected.
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- 41. @SagittariusMktg make it easierfor them to convert.
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- 43. @SagittariusMktg STEP 6: don’tunderestimate the power of reviews.
- 44. @SagittariusMktg 63% of customers are morelikely to make a purchase from a site which has user reviews
- 45. @SagittariusMktg organic stars seller ratings productlisting ads social media content marketing
- 46. @SagittariusMktg STEP 7: rememberthe world is mobile first.
- 47. @SagittariusMktg Did you know? theaverage human attention span has fallen to eight seconds.
- 48. 60% 40% 50% 30% 20% 10% 2011 2012 20132014 2016 and fast… 2015 @SagittariusMktg
- 49. @SagittariusMktg navigatingresponsibly.dk parcourscanada.comContiki.com pygmy-elephant.com top5 UX considerations… pinterest.com
- 50.
- 51. @SagittariusMktg 88% of companies personalisethrough email. 45% of companies personalise on their site.
- 52. @SagittariusMktg why personalize? +19%Source: TheRealities of Online Personalization, eConsultancy April 2013 Averageconversion liftbyusing personalization?
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- 58. over to you. @SagittariusMktg 1.what are your goals? why are you here? 2. what’s the strategy to hit them 3. what are the tactics – what will you actually do? 4. what are your Key Performance Indicators (KPIs) 5. what channels will you use?
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- 60. growth acceleration programs. digital marketing thatdrivestraffic and createsravingfans. ecommercewebsites and apps that convert more sales. @SagittariusMktg
- 61. @SagittariusMktg seo paidsearch socialstrategy contentstrategy email marketing websitedesign& build mobile u/x and optimisation global ecommerce digital transformation growth acceleration programs.
- 62. want to knowmore? @SagittariusMktg @JoshWhiten • hello@sagittarius.agency • Call us on 01233 467800 • Speak to your account manager • Meet us in Ashford or London • Free multichannel audit and review
Editor's Notes
- #2 SARAH – Intro to the webinar and the team
- #3 Hi….as Sarah mentioned I am an Account Manager for the Web development side of the business and work closely with Lucie and the Digital Marketing team to ensure that clients receive the support from both angles of the business when it comes to CRO. Today, Lucie and I, hope to give you an introduction to Conversion Rate Optimisation and will explore what it is and how you can implement and achieve it successfully via your website or digital marketing activities and what good conversion rates actually look like across digital channels. To establish this, we will run through: The bare necessities when it comes to CRO - what are the basics? The Model Goals How to optimise through the path to purchase And ultimately, how you can measure the success and learn from your results.
- #4 RUTH – What is CRO? What is Conversion Rate Optimisation? Conversion Rate Optimisation (referred to as CRO) is simply a method of using analytics and feedback to improve the performance of your website, by optimising your site and increasing the likelihood that visitors will complete a specific action. EConsultancy reported that “according to 59% of company respondents, CRO is crucial to their overall digital marketing strategy” It’s important to remember that ‘Conversion’ does not necessarily represent a purchase. A ‘conversion’ can be anything from an e-mail sign up, a creation of an account, someone logging in or potentially time spent on a page or a download of a document. Conversion is relative to you and your business.
- #5 RUTH – Why is CRO important? Why is it important? Getting traffic to your site is one thing, but converting that traffic is key. Decisions are not made in straight lines. People bounce around and we let them, NO, we ENCOURAGE them to by offering inspiring content, through blogs, thought pieces, white papers, videos, call back requests, contact forms, social polls...the list goes on! It’s impossible to be one step ahead of all users, so we need to think of the potential touch points to help convert this process. Here are some examples of customer journeys >
- #6 LUCIE – Example Customer Journey 1 Liam - 30 - avid traveller (Informed consumer) Specific searches but not brand loyal Looks for other options
- #7 LUCIE – Example Customer Journey 2 Arthur - 66 – retired (Living mobile-first) Researches on mobile Books at a travel agency Loyal to a brand but likes offers
- #8 LUCIE– What does good look like? Benchmark data available online, but the best benchmarks are based on your own data (what is standard conversion, what worked well/what didn't). Remember what you class as a conversion may not be the same as other brands. Set yourself a target Example benchmark data <next slide>
- #9 LUCIE - Ecommerce conversion rates by Product type (Taken from a benchmark study in 2014) You can get some benchmark conversion rates for product categories, mainly for ecommerce sites. Here is an example <see slide> This is generalised though as some niche product groups have a higher conversion rate (electronics and computer software for example)
- #10 RUTH – Digital Maturity across sectors Most brands are stuck in the first three stages – the Attract stage (Initiate, Radiate and Align) The second phase – Convert is focused on Optimize and Nurture – This includes conversion optimisation and personalization, her is where brands can advance their digital maturity aggressively. It’s all about tweaking and optimizing efforts to become more relevant and personal!
- #11 RUTH – How can you achieve it? Throughout this presentation we will look at ways you can achieve good CRO, but in essence you need to tap into all areas of UX, Digital Marketing, design and technology and the interplay between them...there is not one simple ‘fix’. So how do you identify the opportunities? TESTING. And the key to successful CRO is regular testing - and acting on the results of your testing. *A/B and multivariate testing can be viewed as the most valuable method of improving CRO. *Abandonment Analysis and customer journey analysis *Segmentation - to try and align email and website personalization. *Take advantage of opportunities that present themselves - for example the weather. *Resource and planning
- #12 LUCIE – Where do the channels fit? The funnel helps us understand what stage our audience could go through, however, this is not a straightforward journey. By understanding the journey we can try to personalise our messages and goals to fulfil their needs. Funnels are a way for you to conceptually structure your touch points to make sense of the customer journey and to shape it – this is important, you can focus the customer and dictate the conversation. You might not be able to control what customers do, but you can influence the process through which they work. Here is an example of how each channel sits within the funnel: Social - Feeds the funnel and drives new sessions. Can also help evangelize/reviews etc Paid (AdWords) - keyword searches that support the stage of the funnel (e.g. cheap hotels in London) Remarketing can help bring users back to the site, this is making the most of the traffic Natural/Organic - Great for volume and long tail searches - good quality Website - the website should support the different stages of the funnel
- #13 RUTH – The Model CRO is more often than not about increasing revenue...so how do we go about this? We have put together a model to help us visualise this.
- #14 RUTH – How do we increase revenue?
- #15 RUTH – Increase Visits
- #16 RUTH – Increase aov
- #17 RUTH – Improve conversion rate
- #18 RUTH – In reality it’s a combination
- #19 RUTH – Combination of all
- #20 LUCIE – Goals & Measurement We are going to have a look into Goals and measurement and understand why this is important when looking at conversion rate optimisation (CRO) Goals are not straight forward, in the same way that people do not behave the same when purchasing a service or a product. Goals can help you track the digital touchpoints along the way. Choosing the right goals will help you validate and ensure you are making progress towards your overall business goals. What are soft and hard goals? Goals shouldn’t be just about the sale, which is what people tend to focus on. People may not be ready to convert, but if you can get them to take an action then you can help them to the next stage of the process. You can also track progress and make improvements to help people move between goals. Examples of soft goals Page like Newsletter subscribe Blog read Different types of Goals/Conversion Content Goals (Views/Downloads) Social Goals (Shares/Follows) - Social is hard to quantify as conversions can be slower Traffic Goals MONEY (Revenue or Profit) Etc
- #21 LUCIE – Goals – help us to achieve To establish and implement your CRO, you firstly need to establish your goals. 1.define goals (what is important to your business, and what actions are likely to lead to a conversion) 2.define strategies 3.agree tactics/implementation 4.define Key Performance Indicators (KPIs) – (Short term and long term) 5.deploy these through the appropriate channels
- #22 LUCIE – Prioritising your goals and content Once you have created your goals, the next step is scoring them to help you prioritise? It’s important to understand your business objective and to make sure everyone is in agreement. As discussed, analysing previous customers journey could help understand what touchpoints are important. Sagittarius often run workshops to help companies align the internal vision and help structure the goals both onsite and off. *By including key stakeholders from across the business (for example from sales, customer services, accounts etc) you get a clear insight into the needs and demands of the website. *The next step is to ensure that you have key marketing content to support the goals and you can then structure these into a hierarchy of importance. Sitecore is an easy way to implement and test goals on your site. However, not everyone is on Sitecore, so what options are there for those that aren’t? You can also set up Goal Values in Google Analytics which allows you to assign a financial value based on what you consider to be the most valuable goal completed. *This will give you an idea of successful conversion of goals that are not necessarily sales.
- #23 LUCIE – Constantly improving Once the goals have been established and implemented, it is important to continue to monitor, report, evaluate, adjust and run again. This is how you can optimise effectively. Achieving the level that you are happy with What makes you happy? What does the competition look like? Does that matter?
- #24 LUCIE – Michelin guide example In today’s digital sphere, you have to evolve to survive. Look at how you can bring your product to market in a different or multi-channel way. In 1900 the Michelin Brothers published the first edition of a guide for French Motorists. 116 years later the guide to an online app as word renowned measurement for top restaurants.
- #25 RUTH
- #26 RUTH
- #27 RUTH Along the customer journey, one search can spark an entirely new idea or want. And one search can make the difference between your brand and the competition. These are 7 considerations of a consumer's path to purchase.
- #28 Ruth
- #29 Ruth
- #30 LUCIE – Argos example Example of a Geo targeted campaign related to the weather You also need to look for opportunities. For example, through Google AdWords you can control adverts displayed dependant on the weather. Mapping the effect of temperature difference (against the seasonal norm) on product sales allowed Argos to the identify trends, e.g: A 5°C change in temperature against the seasonal norm gave them a 100% uplift in electric blanket sales conversion. Conversion rate for sledges doubled when it snows and the temp drops below -3°C. On snow days, search volume for sledges increases 300%. Another example is Bravissimo’s swimwear, where they programmed Google ads to only appear in areas experiencing sunny weather. The campaign achieved fantastic results, with PPC-driven sales revenues for their swimwear range increasing by 600% during a 3-month campaign.
- #31 LUCIE Ads don't always have to center on a transaction. Be helpful throughout the research process and establish your brand as a trusted resource early on.
- #32 Ruth
- #33 RUTH
- #34 LUCIE
- #41 <iframe width="560" height="315" src="https://www.youtube.com/embed/vDNzTasuYEw" frameborder="0" allowfullscreen></iframe>
- #43 <iframe width="560" height="315" src="https://www.youtube.com/embed/vDNzTasuYEw" frameborder="0" allowfullscreen></iframe>
- #49 And fast This is a snap shot of some of our customers – a couple of B2B at the bottom iPhone less than10 years old – Jan 2007 iPad 2010 Within this we are seeing significant growth on the smartphones with iPads plateauing out.