Engage 2013 - Creating a Culture of Optimization


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Engage 2013 - Creating a Culture of Optimization

  1. 1. Creating a Culture of Optimization Hugh Kimber, UK Sales Director &Dan Rainford, eCommerce Optimisation, Lloyds Banking Group
  2. 2. Introductions Webtrends Lloyds Banking GroupSales Director, UK & Optimize EMEA General Insurance, eCommerce Hugh Kimber Dan Rainford 12 years at the company 12 years at the company Financial Services Sector Working in three divisions of the Bank: Optimize EMEA IT Retail (online banking, eCommerce) General Insurance (eCommerce )
  3. 3. Why should we optimize?
  4. 4. Why should we optimize? ncostsWebsite Engagement cq u isitio A Camp aign S ucces s
  5. 5. Top Benefits
  6. 6. Challenges with Optimization
  7. 7. First things first
  8. 8. Where do I start? Analytics Optimization Identify and quantify Test, segment and targetopportunities thru insight to improve performance
  9. 9. Build momentum
  10. 10. Creating the cultureCampaign success? …..This means Stakeholders
  11. 11. Lloyds Banking Group – Dan RainfordPUTTING IT INTO PRACTICE
  12. 12. Who are we… and what do we do? Lloyds Banking Group (LBG) is the UKs largest retail bank providing a wide range of banking and financial services, primarily in the UK, to personal and corporate customers Our main business activities are retail, commercial and corporate banking, general insurance, and life, pensions and investment provision LBG is quoted on both the London Stock Exchange and the New York Stock Exchange and is one of the largest companies within the FTSE 100 We have more than 25 million customers, employ c115k colleagues and have some of the UK’s best known financial brands, including Lloyds, Halifax and Bank of ScotlandOur leading brand in England Our challenger brand in England Our leading brand in Scotland
  13. 13. History…. of the bank 1837 - Queen 1876 - Alexander Graham Bell patents the 1996 – Dolly the Victoria comes to telephone sheep is cloned the throne 1776 - American 1859 - Darwin’s origin of 1969 - First Man Declaration of the Species is published on the moon Independence1765 1810 1865 1995 2009Foundation: Foundation Expansion: Further growth: Acquisition:Taylors & Lloyds Trustee Savings Bank Lloyds Banking Lloyds acquires TSB HBOS becomes partfounded or TSB founded Company formed forming LloydsTSB of Lloyds Banking Group1695 1852 1928 1997 2001Foundation: Foundation: Further growth: Became a bank: Further growth:Bank of Scotland Halifax becomes the Halifax and Halifax Demutualisation Merged with the Bankfounded UK’s largest building Equitable building creating 7.5m of Scotland to form society society merge shareholders HBOS 14
  14. 14. Insurance… more specifically Home insurance! We offer life assurance, pensions, investment products and general insurance The General Insurance business is one of the largest underwriters of personal insurance in the UK We operate primarily under the Lloyds TSB, Halifax and Bank of Scotland brands We’re located across the UK with sites in Leeds, Bournemouth, Bristol and South Wales
  15. 15. Challenges… Improving conversionGetting it right first time is not always possible and with finitebudgets or availability it can be hard to make best use of thatlimited resource Resource constraints Agility Its not always easy to make quick changes What’s the optimal?Is the proposed change(s) really better than the current process. This isperhaps the most pertinent point, will the change do what you expect it will 16
  16. 16. How Optimize… has helpedWhat can we do and how should we approach a change. We’ve The speed in which you can turn a concept or an ideahad some really useful discussions which have helped shaped in to a live test has impressedchange beyond our own ideas Idea generation Agility Leave the winner Results live Have helped me through many discussions with risk and compliance areas - ‘change supported with real The ability to leave live a champion test has to be one of the most customer performance statistics’ valuable elements. You get the Compare benefits of an optimal test right up to being able to make the change performanceKnowing you can compare performance of any change(s) with the existingprocess you have is quite powerful
  17. 17. Real Examples… and the Results!Re-naming buttons First visit Returning visit+ 11% to the next steps + 20% increase to sale + 9.8% to sale - Reduction in ancillaries
  18. 18. Real Examples… and the Results! Payment Options Marketing content Re-building pages + 28% monthly DD selection + 3% starting a quote + 150% Minor ancillaries + 300% annual DD selection Reduced noise + 50 - 70% Major ancillaries Sustained conversion Optimal page structures + 6% Average ticket value No increase in calls Baseline current processOnce live 40% reduction in one - Negative sales off card payments
  19. 19. What’s Next?… what does the future hold More page re-designs More step / journey alterations Smartphone and tablet testing Optimisation of the non-customer facing insurance systems (Call centre)
  20. 20. Building YOUR culture – Final thoughtGROW YOUR OPTIMIZATIONPROGRAMME
  21. 21. The magic combination Technology Successful optimisationBusiness Process & programmeResources
  22. 22. Grow YOUR programme
  23. 23. Everything was Tested“We started with just one simple experiment back in December of 2007.This experiment taught us that every visitor to our website was an opportunity”Dan Siroker – Ad Director and Analytics for Obama Campaign
  24. 24. The Maturity Curve Operational “Crawl ” Phase “Walk” Phase “Run” Phase Reporting •  Personalization •  Web Analytics •  A/B/n Testing •  More Advanced MVT •  Integrated Optimization •  Measurement •  Basic MVT -1-3 areas •  In-session SegmentationConversions •  External Segment Use •  No Testing •  1 Element Targeting •  Multi Element Targeting •  Social & Multi-Channel •  Ad Network Targeting •  1-Project at a Time •  Frequent •  On-going Optimization Maturity Phases
  25. 25. Building YOUR culture needs:1.  Understanding2.  Resource3.  Momentum4.  Stakeholders5.  Business process6.  Technology Your ROI