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Identifying and Forecasting Opportunities for CRO with Analytics at Conversion Elite June2018

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Today I’m presenting a talk at Conversion Elite all about my favourite topic – using analytics to improve success! In this case, I’m focussing on conversion optimisation, but the skills, foundations and processes are very similar regardless of your business and project objectives.
My main takeaways are how to use analytics for the following purposes:
• Identify testing opportunities
• Forecast
• Prioritise
• Justify stakeholder investment
• Use analytics wisely
• Uplift your business

Published in: Data & Analytics
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Identifying and Forecasting Opportunities for CRO with Analytics at Conversion Elite June2018

  1. 1. Anna Lewis Conversion Elite June 2018 Analytics – Identifying and Forecasting Opportunities for CRO @polkadotdata anna@polkadotdata.com
  2. 2. Founder of Polka Dot Data 10 years Analytics Experience Total Google Analytics geek Background in SEO and PPC
  3. 3. ANALYTICS, DO YOU CARE? @annatlewis
  4. 4. Good data makes money @annatlewis
  5. 5. identify testing opportunities prioritise justify stakeholder investment forecast potential success use your analytics wisely uplift to your business HOW CAN ANALYTICS HELP YOU DO THIS?
  6. 6. Data Collation • Accurate analytics • Key data Points • Customisations for YOU Ideation • Where on site • What changes • Designs Forecasting & Prioritisation • What could be achieved • Which will see the best gains Justification •What is the best test for the business at this stage? @annatlewis CRO Planning Framework
  7. 7. Data Collation • Accurate analytics • Key data Points • Customisations for YOU Ideation • Where on site • What changes • Designs Forecasting & Prioritisation • What could be achieved • Which will see the best gains Justification •What is the best test for the business at this stage? @annatlewis CRO Planning Framework
  8. 8. DON’T FORGET YOUR DATA
  9. 9. Business Goals • What do we want/need to achieve? • Why do you have a website? • What growth are you looking for? Business Objectives • What activity are we using to grow? • What is the success criteria? • What would make each team succeed? KPIs • What is measurable? • What does good look like? • What does failure look like? Optimisation •Prioritise what’s most important •What KPIs can you affect @annatlewis Measuremen t Framework
  10. 10. ANALYTICS CUSTOMISATIONS YOU SHOULD BE USING Tracking Code  Analytics through a Tag Manager  Tools for debugging set up Customise your data  Engagement / Event Tracking  Custom Dimensions Segment  Custom Segments  AB version Segments  Sequence Segments Understanding Journeys  Session recordings  User Testing  Analytics Content Groupings  Analytics Channel groupings  Multi Channel Funnel Reports Conversion Tracking  Goals  Enhanced Ecommerce  Funnels  Conversion Predictor?! @annatlewis
  11. 11. IDENTIFY OPPORTUNITIES FOR YOU Ideation with data
  12. 12. identify testing opportunities TRUST YOUR DATA GET STUCK IN GO GRANULAR
  13. 13. SEGMENTATION Because data in aggregate…
  14. 14. SEGMENTATION Because “DATA IN AGGREGATE IS… @annatlewis
  15. 15. SEGMENTATION Because “DATA IN AGGREGATE IS CRAP @annatlewis
  16. 16. SEGMENTATION Because “DATA IN AGGREGATE IS CRAP @annatlewis
  17. 17. SEGMENTATION Because “DATA IN AGGREGATE IS CRAP @annatlewis
  18. 18. SEGMENTATION Because “DATA IN AGGREGATE IS CRAP @annatlewis
  19. 19. CR: 5% Tablet: 5% Desktop CR: 10% Mobile CR: 1% @annatlewis
  20. 20. CR: 5% Tablet: 5% Desktop CR: 10% Mobile CR: 1% @annatlewis
  21. 21. CR: 5% Original CR: 4.5% New User CR: 15% Returning User CR: 3% Variant CR: 6% New User CR: 15% Returning User CR: 3% @annatlewis
  22. 22. CR: 5% Original CR: 4.5% New User CR: 1% Returning User CR: 8% Variant CR: 6% New User CR: 15% Returning User CR: 3% @annatlewis
  23. 23. CR: 5% Original CR: 4.5% New User CR: 1% Returning User CR: 8% Variant CR: 6% New User CR: 5% Returning User CR: 4% @annatlewis
  24. 24. CR: 5% Original CR: 4.5% New User CR: 1% Returning User CR: 8% Variant CR: 6% New User CR: 5% Returning User CR: 4% @annatlewis
  25. 25. SEGMENTS TO USE IN TESTING ESSENTIAL EVEN MORE USEFUL Version A, B Customer Loyalty New / Returning Customer Total Spend to date Device information Checkout Sequence – Success Saw a Product page Checkout Sequence – Drop out on X or Y Add to cart Revenue over £X Read key @annatlewis
  26. 26. FAST SEGMENTATION Ain’t nobody got time for that!
  27. 27. PROFITGRID @annatlewis
  28. 28. PROFITGRID @annatlewis
  29. 29. PROFITGRID @annatlewis
  30. 30. WHAT COULD YOU REALLY ACHIEVE? Forecast the smart way
  31. 31. forecast potential success USE THE DETAILS FORECAST BASED ON ACTIVITY NOT JUST RESULT FORECAST AT DIFFERENT LEVELS
  32. 32. • 100 Users Start • 5 Sales • £500 Convert •5% CR •AOV £100 Performance •6% CR = •6 sales. £100 gain Potential @annatlewis
  33. 33. • 100 Users Start • 40 Add to Cart Act • 5 Sales • £500 • AOV £100 Convert • 40% Add to cart • 12.5% Cart to Sale • 5% Total CR Performance • XX% Add to cart = • YY% Cart to Sale = Potential @annatlewis
  34. 34. • 100 Users Start • 60 View a product • 40 Add to Cart Act • 5 Sales • £500 • AOV £100 Convert • 60% Product Research • 66% Intent to buy • 12.5% Cart to Sale • 5% Total CR Performance • XX% View Product = • XX% Add to cart = • YY% Cart to Sale = Potential @annatlewis
  35. 35. • 100 Users Start • 60 View a product • 40 Add to Cart • 30 Cont. Shopping Act • 5 Sales • £500 • AOV £100 Convert • 60% Product Research • 66% Intent to buy • 12.5% Cart to Sale • 5% Total CR Performance • XX% View Product = • XX% Add to cart = • XX% Cont. Shopping = • YY% Cart to Sale = Potential @annatlewis
  36. 36. • 100 Users Start • 60 View a product • 40 Add to Cart • 30 Cont. Shopping • 10 Join newsletter Act • 5 Sales • £500 • AOV £100 Convert • 60% Product Research • 66% Intent to buy • 12.5% Cart to Sale • 5% Total CR Performance • XX% View Product = • XX% Add to cart = • XX% Cont. Shopping = • YY% Cart to Sale = Potential @annatlewis
  37. 37. • 100 Users Start • 60 View a product • 40 Add to Cart • 30 Cont. Shopping • 10 Join newsletter • 15 Check delivery • 5 Watch a Video Act • 5 Sales • £500 • AOV £100 Convert • 60% Product Research • 66% Intent to buy • 12.5% Cart to Sale • 10% Subscription • 15% Delivery Qs. • 5% Watch Video • 5% Total CR Performance • XX% View Product = • XX% Add to cart = • XX% Cont. Shopping = • YY% Cart to Sale = • £££ Potential @annatlewis
  38. 38. • 100 Users Start • 60 View a product • 40 Add to Cart • 30 Cont. Shopping • 10 Join newsletter • 15 Check delivery • 5 Watch a Video Act • 5 Sales • £500 • AOV £100 Convert • 60% Product Research • 66% Intent to buy • 12.5% Cart to Sale • 10% Subscription • 15% Delivery Qs. • 5% Watch Video • 5% Total CR Performance • XX% View Product = • XX% Add to cart = • XX% Cont. Shopping = • YY% Cart to Sale = • £££ Potential @annatlewis Look at engagement, not just end result! Combine together in sequence segments. Then segment by new/returning/devices etc
  39. 39. TURN THE DATA INTO MONEY The activity.
  40. 40. prioritise & justify the investment to stakeholders
  41. 41. USE THE DATA TO MANAGE PRIORITIES Test Name Cost to Implement Time to Implement £ Gain - Forecast Priority Score Home layout £10k 1 month 70k 15.0 Delivery form £15k 2 months 50k 4.4 Guest Checkout £25k 4 months 90k 5.4 Call to actions £3k 1 week 30k 27.0 Filter Options £5k 1 month 20k 15.0 @annatlewis Find a scoring system that works for you. Here it is (Gain – cost) / weeks, the highest score is th
  42. 42. EVENT TRACKING The activity.
  43. 43. TRACK ENGAGEMENT THAT MATTERS TO YOU @annatlewis micro conversions macro conversions engagement
  44. 44. micro conversions macro conversions click product add to cart download chose size menu search hero banner filter purchase / lead gen engagement TRACK ENGAGEMENT THAT MATTERS TO YOU @annatlewis micro conversions macro conversions engagement
  45. 45. TRACK ENGAGEMENT THAT MATTERS TO YOU @annatlewis micro conversions macro conversions engagement micro conversions macro conversions click product add to cart download chose size menu search hero banner filter purchase / lead gen engagement
  46. 46. TRACK ENGAGEMENT THAT MATTERS TO YOU @annatlewis micro conversions macro conversions engagement micro conversions macro conversions click product add to cart download chose size menu search hero banner filter purchase / lead gen engagement
  47. 47. WHICH ARE IMPACTED BY THE TEST? @annatlewis Monitor change in engagement BY test segment click product add to cart download chose size menu search hero banner filter purchase / lead gen micro conversions macro conversions engagement
  48. 48. SET UP EVENT TRACKING Label Action Category Navigation Search Keyboard Enter Clicked Suggested Result Main Menu - Hover Brand Link – Nike Cat Link - Shoes Main Menu - Click Sub Cat Link - Mens Clothes @annatlewis
  49. 49. SET UP EVENT TRACKING Value Label Action Category Ecommerce Add to Cart Nike Air – Mens – 8 65.9 9 55.0 0 Adidas Free – 11 88.9 9 Remove From Cart Nike Air – Mens – 8 65.9 9 Delivery Option – Standard 3-5 days 3.95 Free Delivery Option – Click and Collect Post Office 0.00 In Store 1.99 @annatlewis
  50. 50. ESSENTIAL EVENT TRACKING – BASIC NAMING Category Action Label Navigation Search Search query Navigation Hero Banner Banner Name/ Campaign Shopping Click product Product Name + Variant Shopping Add to cart Product Name + Variant Research Download File name Shopping Chose size Product Name + Variant Shopping Chose colour Product Name + Variant Ecommerce Purchase Product Name + Variant Conversion Lead gen Product Name @annatlewis
  51. 51. REPORT ON EVENT TRACKING @annatlewis Good, but.. Missing labels No values Basic information
  52. 52. EXAMPLE: BASIC EVENT TRACKING Category: Ecommerce Action: {{XYZ}} Click Label: {{Product name}} Value: {{Product price}} @annatlewis
  53. 53. ENHANCED ECOMMERCE The opportunity.
  54. 54. SHOPPING BEHAVIOUR Apply segments Create segments Improve journey Uplift Conv. Rate Improve return @annatlewis
  55. 55. SHOPPING BEHAVIOUR Apply segments Create segments Improve journey Uplift Conv. Rate Improve return @annatlewis
  56. 56. SHOPPING BEHAVIOUR Apply segments @annatlewis
  57. 57. CHECKOUT BEHAVIOUR @annatlewis USE WITH SEGMENTS!
  58. 58. ENHANCED ECOMMERCE The engagement. FUNNE LS
  59. 59. SHOPPING BEHAVIOUR All sessions Key Pages 75% Read Clicked Contact Submitted Contact LEAD- GEN https://www.simoahava.com/an alytics/track-content- enhanced-ecommerce/ @annatlewis
  60. 60. DATA = POWER Trust it. Use it. Grow.
  61. 61. WHAT DOES IT LOOK LIKE?
  62. 62. ACHIEVABLE https://www.defense.gov/Photos/Photo- Gallery/igphoto/2001738490/
  63. 63. ACHIEVABLE https://www.defense.gov/Photos/Photo- Gallery/igphoto/2001738490/ What could
  64. 64. ACHIEVABLE https://www.defense.gov/Photos/Photo- Gallery/igphoto/2001738490/ What could each
  65. 65. ACHIEVABLE https://www.defense.gov/Photos/Photo- Gallery/igphoto/2001738490/ What could each scenario
  66. 66. ACHIEVABLE https://www.defense.gov/Photos/Photo- Gallery/igphoto/2001738490/ What could each scenario achieve?
  67. 67. JUSTIFY WHICH TEST Idea A Idea B Idea C D
  68. 68. Get your data BACK TO WORK!
  69. 69. It’s there if you look fo
  70. 70. identify testing opportunities COLLECT CUSTOM DATA prioritise COMPARE FORECASTS + EFFORT justify stakeholder investment CALCULATE THE OUTCOMES forecast potential success COMPARE THE DATA use your analytics wisely MAKE IT WORK FOR YOU uplift to your business COMPARE THE DATA
  71. 71. DON’T FORGET YOUR DATA
  72. 72. THANK YOU Anna Lewis Polka Dot Data Analytics Consultancy anna@polkadotdata.com

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