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How to win at Conversion Optimization

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Learn to validate your insights and know more about your customer with each test. That's winning continuously! Snehal Samant's talk from Startup Saturday

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How to win at Conversion Optimization

  1. 1. HOW TO WIN AT CONVERSION OPTIMIZATION - SNEHAL SAMANT
  2. 2. WHO’S SNEHAL SAMANT? Leads Product Marketing @ VWO – World’s easiest A/B testing tool Head of Digital @ TastyKhana – acquired by FoodPanda Co-founder @ Black Bean Engagement Creative Director @ Grey
  3. 3. OPINIONS ARE LIKE ASSHOLES, EVERYONE HAS ONE (BUT EACH THINKS THE OTHER ’S STINKS)
  4. 4. NO 1 REASON WHY COMPANIES FAIL AT GROWTH? Not enough ideas. We aren't tracking the right data. Don't have a testing framework. They don't run enough experiments
  5. 5. ONLY 1 OUT OF 7 TESTS WIN 6 OUT OF 7 LOSE Then why do people keep experimenting?
  6. 6. WITH EACH EXPERIMENT LEARN SOMETHING MORE ABOUT YOUR CUSTOMER NOW YOU ARE CONTINOUSLY WINNING
  7. 7. MORE CUSTOMER KNOWLEDGE = GROWTH Your customer knowledge Revenue 1m ARR 10m ARR 100m ARR BETTER FEATURES BETTER PRODUCTS BETTER SERVICE
  8. 8. WHERE WINS LIVE? MEASURE SHIT GREAT INSIGHTS PERSUASION
  9. 9. This deck isn't a compilation of hacks. LET'S LEARN TO FISH.
  10. 10. Chamath Palihapitiya - how we put Facebook on the path to 1 billion users
  11. 11. IDENTIFY YOUR MOST IMPORTANT METRICS • AARRR framework • Start tracking • Establish baseline to predict impact
  12. 12. Growth Hacking Like A Pirate, A Beginner’s Guide To Pirate Metrics Point-click to define events and push to GA, MixPanel etc
  13. 13. COME UP WITH A STRONG HYPOTHESIS Changing [element tested - button, headline etc] from ‘________________’ to ‘_____________’ will increase / decrease [a conversion metric - clicks, downloads, signups etc]. by ‘______%’ BECAUSE ‘________’
  14. 14. A STRONG HYPOTHESIS TARGETS PAIN Changing THE CANCEL ACCOUNT SCREEN from ‘Letting people cancel’ to ‘Letting people pause their account by downgrading to $9 plan’ will decrease Account Churn Rate by ‘20%’ BECAUSE ‘some customers do not want to lose their data which we delete on cancellation.’
  15. 15. HOW TO FIND PAIN #1 - DATA ANALYSIS Find aberration High traffic + high bounce, Paid traffic + high bounce Heatmaps, clickmaps, scrollmaps, visitor recordings Look at internal search Look at search landing pages from organic search
  16. 16. Become a GA ninja
  17. 17. HOW TO FIND PAIN #2 - HEURISTIC ANALYSIS Structured approach to critically evaluating UI / UX. LIFT is one of several frameworks.
  18. 18. An intro to the LIFT model
  19. 19. HOW TO FIND PAIN #3 TALK TO PEOPLE! Ask users – Website / Email Surveys Call them!
  20. 20. HOW TO PERSUADE PEOPLE TO DO WHAT YOU WANT (ZE BLACK ARTS)
  21. 21. HOW #1 - USE USER VOICE People skip marketing-speak Use real-speak from surveys, conversation responses Keep it simple
  22. 22. Learn to write super copy
  23. 23. How #2 VISUAL HIERARCHY It works Don’t fuck it up
  24. 24. HOW #3 - NUEROMARKETING 101
  25. 25. THE REPLTILIAN BRAIN TRIGGERS
  26. 26. Is There a Buy Button Inside the Brain?
  27. 27. HOW #4 - NUDGES - EXPLOIT BIASES A nudge alters people’ s behaviour in a predictable way without forbidding any options or significantly changing their economic incentives. Putting fruit at eye level counts as a nudge. Banning junk food does not.
  28. 28. COMMON BIASES Anchoring effect 40,000 6,000
  29. 29. COMMON BIASES Anchoring effect 900 200 Sarojini Market Perception of cost is relative.
  30. 30. COMMON BIASES Current Moment Bias People choose the pleasurable option available right now. Constant feedback helps drive behavior.
  31. 31. COMMON BIASES Projection bias Most people think like me, act like me and like what I like. Most innovative, data-focused marketers use VWO for driving growth at products like Slack.
  32. 32. COMMON BIASES Observational Selection bias Suddenly noticing things we didn’t notice that much before and wrongly assume that the frequency has increased. A perfect example is what happens after we buy a red car and we inexplicably start to see red cars virtually everywhere.
  33. 33. COMMON BIASES Confirmation bias We love to agree with people who agree with us. We tend to be put off by people and news sources that make us feel uncomfortable or insecure about our views – cognitive dissonance. We focus on data which confirms our pre-conceived view.
  34. 34. 5 Principles of Persuasive Web Design 20 cognitive biases that skew decisions
  35. 35. RUNNING EXPERIMENTS Simple sequential testing – establish baseline, make a change, expose 100% of your audience Control + Variation – expose 50% random of your audience to each at the same time Use a tool like VWO – visual editor + repeat visitors see same control or variation + Bayesian stats engine (most use Frequentist which takes too long and uses p value)
  36. 36. WHY EXPERIMENTS CAN SKEW Calculate sample size in advance for statistically significant results (not required with VWO) Don’t make changes mid-way Test in weeks for equal number of Mondays, weekends etc Be wary of external forces
  37. 37. INTERPRETING YOUR RESULTS Aim for validated learnings, not just wins
  38. 38. THINK BEYOND HACKS Improve processes Pilot new, different mediums
  39. 39. GROWTH IS OPTIONAL The easiest choice is to choose to do nothing. Get these slides on SNEHALSAMANT.COM

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