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#SMX #14B3 @larrykim
5 Conversion Rate Hacks ThatYield Massive 3-5x ConversionRate Improvements
Larry Kim, Founder of Word...
#SMX #14B3 @larrykim
A Few Random
Facts About Me
#SMX #14B3 @larrykim
#SMX #14B3 @larrykim
Originally from Winnipeg, Canada
#SMX #14B3 @larrykim
Actual Photos of Boston From February This Year
#SMX #14B3 @larrykim
WordStream’s Global Headquarters in Boston
2008 2015
#SMX #14B3 @larrykim
You are a member of
the CRO Rebellion …
and a Traitor!
#SMX #14B3 @larrykim
Download Slides: bit.ly/big-cro
#SMX #14B3 @larrykim
EPIPHANY #1:
The Classic
A/B Test is a
Fairy Tale
#SMX #14B3 @larrykim
#SMX #14B3 @larrykim
Typical Conversion Rate Optimization Test
• The early lead disappears! • Gains don’t persist over tim...
#SMX #14B3 @larrykim
EPIPHANY #2:
Most Marketing
Departments
Are Delusional
about CRO
#SMX #14B3 @larrykim
CONVERSION RATE OPTIMIZATION
I WANT TO BELIEVE
#SMX #14B3 @larrykim
TYPICAL A/B TEST IS OVERRATED
#SMX #14B3 @larrykim
Small Changes Usually
Result in Small Changes
The percentage
increase you think
you got is probably
n...
#SMX #14B3 @larrykim
A/B Testing Strategy is Often Like
Rearranging Deck Chairs on the Titanic
#SMX #14B3 @larrykim
CRO EPIPHANY #3:
CRO Often Just Increases Quantity
of Leads at the Expense of Quality
VS
#SMX #14B3 @larrykim
Higher Conversion Rate =
(Much) Lower % Marketing
Qualified Lead Rate
Landing Conversion Rate
% Marke...
#SMX #14B3 @larrykim
EPIPHANY #4:
(HIGHER THAN YOU THINK!)
What is a Good
Conversion Rate?
#SMX #14B3 @larrykim
Forest vs. Trees
#SMX #14B3 @larrykim
What’s a good Conversion Rate?
Search Conversion Rate Distribution
Median: 2.35%
Top 25%: 5.31% and A...
#SMX #14B3 @larrykim
Donkeys vs. Unicorns
Distribution Point Conversion Rate Vs. Average Comments
AVERAGE 2.35% - DONKEYS
...
#SMX #14B3 @larrykim
Aim for 3-5x Increases, NOT 3-5%
#SMX #14B3 @larrykim
Landing Page Unicorns?
(3-5x Avg. Conversion Rate!)
#SMX #14B3 @larrykim
Most Conversion Rate Optimization
Efforts Actually More Like …
#SMX #14B3 @larrykim
How to make:
Conversion Rates Go
Up & Stay Up Forever
& Not Kill Lead Quality
#SMX #14B3 @larrykim
Big CRO: 5 Conversion Rate Hacks That Yield
Massive 3-5x Conversion Rate Improvements
#SMX #14B3 @larrykim
Larry’s #1 Big CRO Hack
Eliminate Landing Pages
Using Call Extensions
#SMX #14B3 @larrykim
Rethinking the Marketing Funnel:
Two Parts to this Story
1. You can
bypass this
funnel entirely!
2. Y...
#SMX #14B3 @larrykim
#SMX #14B3 @larrykim
#SMX #14B3 @larrykim
Skip Landing Page! Use Call Buttons
#SMX #14B3 @larrykim
Call Buttons are Game Changers
Desktop Search
Conversion Funnel
Mobile
Conversion Funnel
1.  Sees Ad
...
#SMX #14B3 @larrykim
Dramatically Increase Contact
& Qualification Rates
Contact rates significantly drop off after 5 minu...
#SMX #14B3 @larrykim
Force Mobile Searchers to Call You
Users are 9x more likely to
place a call from a mobile
SERP than a...
#SMX #14B3 @larrykim
Literally just pay for
calls to your business!
New Call-Only Campaigns in AdWords
#SMX #14B3 @larrykim
#SMX #14B3 @larrykim
Larry’s #2 Big
CRO Hack
Eliminate Landing
Pages Using New
Ad Formats
#SMX #14B3 @larrykim
New Facebook Social Direct
Response Ad Formats
#SMX #14B3 @larrykim
Twitter Lead Generation Card Format
User’s Name, Email
and Twitter Name are
automatically emailed
or ...
#SMX #14B3 @larrykim
#SMX #14B3 @larrykim
Larry’s #3 Big CRO Hack
Make Site Visitors More
Likely to Convert
#SMX #14B3 @larrykim
Conversion Rate
is Defined as:
(Captured Leads /
Website Visitors) *100%
Huge leverage in changing
th...
#SMX #14B3 @larrykim
Shopping Ads Steal all the Conversions!
Price & Image Info Communicated
*BEFORE* Clicking Ad!
#SMX #14B3 @larrykim
New Automotive Ad Formats
More Likely to Inspire Actions
Image Carousel
With Detailed Info
Call or Ge...
#SMX #14B3 @larrykim
New Mobile Hotel Ad Experiences
Ratings Info!
Click to Book!
#SMX #14B3 @larrykim
New Shopping Experiences
Expandable
Product Card
Reviews
and Ratings
Local
Inventory Ads
#SMX #14B3 @larrykim
Compare and Buy Insurance Online
Expandable
Product Card
Detailed
Reviews
Call
Local Agent
#SMX #14B3 @larrykim
Use Google to Get a Credit Card
Compare Rates
Support for
Regional Banks
#SMX #14B3 @larrykim
Get a Mortgage!
Latest Rates
Ratings
and Details
#SMX #14B3 @larrykim
Google is Taking All
the Conversions
#SMX #14B3 @larrykim
As sale ends (or quantity
goes to zero), CVR
increases up to 3x!
Use Ad Customizers to Create Urgency...
#SMX #14B3 @larrykim
Go Nuts With Ad Customizers
Consider doing “Perpetual Sales”
#SMX #14B3 @larrykim
Clone Your Audience List
Using Similar Audiences!
#SMX #14B3 @larrykim
In Facebook and Twitter: Upload Customer
Emails, Phone Numbers, Social IDs.
Leverage the Power of Ad ...
#SMX #14B3 @larrykim
Summary: Three Ways to Make
Visitors More Likely to Convert
•  New ad experiences
inspire action
•  A...
#SMX #14B3 @larrykim
Larry’s #4 Big CRO Hack:
Super
Remarketing
I’LL BE
BACK
#SMX #14B3 @larrykim
What’s The Biggest Difference??
#SMX #14B3 @larrykim
Super Remarketing = Be Picky!
In Super-Remarketing, Cast a Narrow Net,
Maximize Conversion Rates.
#SMX #14B3 @larrykim
Precise Ad Targeting Boosts Engagement Rate
#SMX #14B3 @larrykim
Demographic Ad Targeting in Facebook
#SMX #14B3 @larrykim
Behold The Power of Super-Remarketing!
Behavioral & Interest Targeting =
They’re interested in your s...
#SMX #14B3 @larrykim
Power of Super Remarketing
So Push HARD OFFERS (Sign-Ups,
Consultations, Downloads, etc.)
Engagement
...
#SMX #14B3 @larrykim
Weird Thing About Remarketing
Conversion
Rates
Increase With
More Ad
Impressions
#SMX #14B3 @larrykim
Remarketing CRO Hack: Be Bold!
•  Set Membership Duration:
3x Avg. Sale Cycle
•  Set Impression Caps ...
#SMX #14B3 @larrykim
#SMX #14B3 @larrykim
Larry’s #5
Big CRO Hack
Change Sign-Up Flow
#SMX #14B3 @larrykim
Typical Software Download Form
#SMX #14B3 @larrykim
New Sign-Up Flow: Register at End
#SMX #14B3 @larrykim
Example #2: Change Sign-Up Flow By Letting
Users Decide + Emotional Triggers
#SMX #14B3 @larrykim
Larry’s Bonus Big CRO Hack
Change Your Offer (in a Big Way)
#SMX #14B3 @larrykim
Free Trial vs. Free AdWords Grader Report
#SMX #14B3 @larrykim
Rethinking CRO:
Key Takeaways
#SMX #14B3 @larrykim
Conventional CRO is Table
Stakes, Not a Growth Strategy.
Focus on BIG CRO instead!
PLACE
MINIMUM BET
...
#SMX #14B3 @larrykim
Big Changes
=
Big Changes.
Takeaway #2
Small Changes
=
Small Changes.
#SMX #14B3 @larrykim
Takeaway #3
Don’t Settle For Average.
Be a Unicorn in a Sea of Donkeys!
#SMX #14B3 @larrykim
Thank You!
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The Great CRO Conspiracy Revealed: 5 Conversion Rate Hacks That Yield Massive 3-5x Conversion Rate Improvements By Larry Kim

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From the Search Marketing Expo - SMX East Conference in New York City, NY, September 29 - October 1, 2015. SESSION: Hunting Big PPC Campaign Optimizations For Massive ROI Increases. PRESENTATION: The Great CRO Conspiracy Revealed: 5 Conversion Rate Hacks That Yield Massive 3-5x Conversion Rate Improvements - Given by Larry Kim, @larrykim, WordStream - Founder & CTO. #SMX #14B3

Published in: Internet

The Great CRO Conspiracy Revealed: 5 Conversion Rate Hacks That Yield Massive 3-5x Conversion Rate Improvements By Larry Kim

  1. 1. #SMX #14B3 @larrykim 5 Conversion Rate Hacks ThatYield Massive 3-5x ConversionRate Improvements Larry Kim, Founder of WordStream, Inc.
  2. 2. #SMX #14B3 @larrykim A Few Random Facts About Me
  3. 3. #SMX #14B3 @larrykim
  4. 4. #SMX #14B3 @larrykim Originally from Winnipeg, Canada
  5. 5. #SMX #14B3 @larrykim Actual Photos of Boston From February This Year
  6. 6. #SMX #14B3 @larrykim WordStream’s Global Headquarters in Boston 2008 2015
  7. 7. #SMX #14B3 @larrykim You are a member of the CRO Rebellion … and a Traitor!
  8. 8. #SMX #14B3 @larrykim Download Slides: bit.ly/big-cro
  9. 9. #SMX #14B3 @larrykim EPIPHANY #1: The Classic A/B Test is a Fairy Tale
  10. 10. #SMX #14B3 @larrykim
  11. 11. #SMX #14B3 @larrykim Typical Conversion Rate Optimization Test • The early lead disappears! • Gains don’t persist over time.
  12. 12. #SMX #14B3 @larrykim EPIPHANY #2: Most Marketing Departments Are Delusional about CRO
  13. 13. #SMX #14B3 @larrykim CONVERSION RATE OPTIMIZATION I WANT TO BELIEVE
  14. 14. #SMX #14B3 @larrykim TYPICAL A/B TEST IS OVERRATED
  15. 15. #SMX #14B3 @larrykim Small Changes Usually Result in Small Changes The percentage increase you think you got is probably not real.
  16. 16. #SMX #14B3 @larrykim A/B Testing Strategy is Often Like Rearranging Deck Chairs on the Titanic
  17. 17. #SMX #14B3 @larrykim CRO EPIPHANY #3: CRO Often Just Increases Quantity of Leads at the Expense of Quality VS
  18. 18. #SMX #14B3 @larrykim Higher Conversion Rate = (Much) Lower % Marketing Qualified Lead Rate Landing Conversion Rate % Marketing Qualified Leads (MQL) 1% 2% 4% 7% 18% 2% 5% 9%
  19. 19. #SMX #14B3 @larrykim EPIPHANY #4: (HIGHER THAN YOU THINK!) What is a Good Conversion Rate?
  20. 20. #SMX #14B3 @larrykim Forest vs. Trees
  21. 21. #SMX #14B3 @larrykim What’s a good Conversion Rate? Search Conversion Rate Distribution Median: 2.35% Top 25%: 5.31% and Above Top 10%: 11.45% and Above SHAREOFALLACCOUNTS SEARCH CONVERSION RATE WordStream Client Data, not Official Google Data.
  22. 22. #SMX #14B3 @larrykim Donkeys vs. Unicorns Distribution Point Conversion Rate Vs. Average Comments AVERAGE 2.35% - DONKEYS TOP 25% 5.31% 2X AWESOME TOP 10% 11.45% 5X UNICORNS UNICORNS CONVERT 5X BETTER THAN DONKEYS
  23. 23. #SMX #14B3 @larrykim Aim for 3-5x Increases, NOT 3-5%
  24. 24. #SMX #14B3 @larrykim Landing Page Unicorns? (3-5x Avg. Conversion Rate!)
  25. 25. #SMX #14B3 @larrykim Most Conversion Rate Optimization Efforts Actually More Like …
  26. 26. #SMX #14B3 @larrykim How to make: Conversion Rates Go Up & Stay Up Forever & Not Kill Lead Quality
  27. 27. #SMX #14B3 @larrykim Big CRO: 5 Conversion Rate Hacks That Yield Massive 3-5x Conversion Rate Improvements
  28. 28. #SMX #14B3 @larrykim Larry’s #1 Big CRO Hack Eliminate Landing Pages Using Call Extensions
  29. 29. #SMX #14B3 @larrykim Rethinking the Marketing Funnel: Two Parts to this Story 1. You can bypass this funnel entirely! 2. You can eliminate or invert entire sections of this funnel!
  30. 30. #SMX #14B3 @larrykim
  31. 31. #SMX #14B3 @larrykim
  32. 32. #SMX #14B3 @larrykim Skip Landing Page! Use Call Buttons
  33. 33. #SMX #14B3 @larrykim Call Buttons are Game Changers Desktop Search Conversion Funnel Mobile Conversion Funnel 1.  Sees Ad 2.  Clicks on Ad 3.  Vists Website Landing Page 4.  Lead Captured 1.  Sees Ad 2.  Calls Business 3.  Lead Captured No Leaky Landing Page! Golden Rule of Mobile: “Calls to businesses are worth +3x more than clicks to websites”
  34. 34. #SMX #14B3 @larrykim Dramatically Increase Contact & Qualification Rates Contact rates significantly drop off after 5 minutes. Why? Declining interest, alternate solutions, etc. CONTACT RATE 100x decrease from 5 min to 30 min QUALIFICATION RATE 21x decrease from 5 min to 30 min CONTACTRATE TIME Source: MIT
  35. 35. #SMX #14B3 @larrykim Force Mobile Searchers to Call You Users are 9x more likely to place a call from a mobile SERP than a desktop.
  36. 36. #SMX #14B3 @larrykim Literally just pay for calls to your business! New Call-Only Campaigns in AdWords
  37. 37. #SMX #14B3 @larrykim
  38. 38. #SMX #14B3 @larrykim Larry’s #2 Big CRO Hack Eliminate Landing Pages Using New Ad Formats
  39. 39. #SMX #14B3 @larrykim New Facebook Social Direct Response Ad Formats
  40. 40. #SMX #14B3 @larrykim Twitter Lead Generation Card Format User’s Name, Email and Twitter Name are automatically emailed or posted to you!
  41. 41. #SMX #14B3 @larrykim
  42. 42. #SMX #14B3 @larrykim Larry’s #3 Big CRO Hack Make Site Visitors More Likely to Convert
  43. 43. #SMX #14B3 @larrykim Conversion Rate is Defined as: (Captured Leads / Website Visitors) *100% Huge leverage in changing the “Website Visitors” part of the equation by sending more qualified traffic. How? Captured Lead View Landing Page Website Visitors CLOSED DEAL!
  44. 44. #SMX #14B3 @larrykim Shopping Ads Steal all the Conversions! Price & Image Info Communicated *BEFORE* Clicking Ad!
  45. 45. #SMX #14B3 @larrykim New Automotive Ad Formats More Likely to Inspire Actions Image Carousel With Detailed Info Call or Get Directions
  46. 46. #SMX #14B3 @larrykim New Mobile Hotel Ad Experiences Ratings Info! Click to Book!
  47. 47. #SMX #14B3 @larrykim New Shopping Experiences Expandable Product Card Reviews and Ratings Local Inventory Ads
  48. 48. #SMX #14B3 @larrykim Compare and Buy Insurance Online Expandable Product Card Detailed Reviews Call Local Agent
  49. 49. #SMX #14B3 @larrykim Use Google to Get a Credit Card Compare Rates Support for Regional Banks
  50. 50. #SMX #14B3 @larrykim Get a Mortgage! Latest Rates Ratings and Details
  51. 51. #SMX #14B3 @larrykim Google is Taking All the Conversions
  52. 52. #SMX #14B3 @larrykim As sale ends (or quantity goes to zero), CVR increases up to 3x! Use Ad Customizers to Create Urgency & Fear of Missing Out (FOMO) Urgency impacts Conversions
  53. 53. #SMX #14B3 @larrykim Go Nuts With Ad Customizers Consider doing “Perpetual Sales”
  54. 54. #SMX #14B3 @larrykim Clone Your Audience List Using Similar Audiences!
  55. 55. #SMX #14B3 @larrykim In Facebook and Twitter: Upload Customer Emails, Phone Numbers, Social IDs. Leverage the Power of Ad Platforms to Find the Needle in the Haystack For You!
  56. 56. #SMX #14B3 @larrykim Summary: Three Ways to Make Visitors More Likely to Convert •  New ad experiences inspire action •  Ad customizers create urgency •  Find more converters with similar audiences
  57. 57. #SMX #14B3 @larrykim Larry’s #4 Big CRO Hack: Super Remarketing I’LL BE BACK
  58. 58. #SMX #14B3 @larrykim What’s The Biggest Difference??
  59. 59. #SMX #14B3 @larrykim Super Remarketing = Be Picky! In Super-Remarketing, Cast a Narrow Net, Maximize Conversion Rates.
  60. 60. #SMX #14B3 @larrykim Precise Ad Targeting Boosts Engagement Rate
  61. 61. #SMX #14B3 @larrykim Demographic Ad Targeting in Facebook
  62. 62. #SMX #14B3 @larrykim Behold The Power of Super-Remarketing! Behavioral & Interest Targeting = They’re interested in your stuff Remarketing = They Recently Checked Out Your Stuff Demographic Targeting = They Can Afford to Buy Your Stuff Target a Narrow Audience That Meets all 3 Criteria = $$$
  63. 63. #SMX #14B3 @larrykim Power of Super Remarketing So Push HARD OFFERS (Sign-Ups, Consultations, Downloads, etc.) Engagement Rates! Conversion Rates! 3X 2X
  64. 64. #SMX #14B3 @larrykim Weird Thing About Remarketing Conversion Rates Increase With More Ad Impressions
  65. 65. #SMX #14B3 @larrykim Remarketing CRO Hack: Be Bold! •  Set Membership Duration: 3x Avg. Sale Cycle •  Set Impression Caps to Unlimited! •  Run Multiple Ads Per Campaign!
  66. 66. #SMX #14B3 @larrykim
  67. 67. #SMX #14B3 @larrykim Larry’s #5 Big CRO Hack Change Sign-Up Flow
  68. 68. #SMX #14B3 @larrykim Typical Software Download Form
  69. 69. #SMX #14B3 @larrykim New Sign-Up Flow: Register at End
  70. 70. #SMX #14B3 @larrykim Example #2: Change Sign-Up Flow By Letting Users Decide + Emotional Triggers
  71. 71. #SMX #14B3 @larrykim Larry’s Bonus Big CRO Hack Change Your Offer (in a Big Way)
  72. 72. #SMX #14B3 @larrykim Free Trial vs. Free AdWords Grader Report
  73. 73. #SMX #14B3 @larrykim Rethinking CRO: Key Takeaways
  74. 74. #SMX #14B3 @larrykim Conventional CRO is Table Stakes, Not a Growth Strategy. Focus on BIG CRO instead! PLACE MINIMUM BET Takeaway #1
  75. 75. #SMX #14B3 @larrykim Big Changes = Big Changes. Takeaway #2 Small Changes = Small Changes.
  76. 76. #SMX #14B3 @larrykim Takeaway #3 Don’t Settle For Average. Be a Unicorn in a Sea of Donkeys!
  77. 77. #SMX #14B3 @larrykim Thank You!

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