How to Achieve a 232% Lift: The repeatable methodology one company used to generate a significant result

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How to Achieve a 232% Lift: The repeatable methodology one company used to generate a significant result

  1. 1. How to Achieve a 232% Lift The repeatable methodology that one company used to generate a significant result (applied live to your pages)
  2. 2. We’re sharing on Twitter! #WebClinic
  3. 3. Today’s speakers Taylor Kennedy Senior Research Manager MECLABS Lauren Pitchford Senior Research Manager MECLABS Austin McCraw Director Content Production MECLABS Jon Powell Senior Manager Research and Strategy MECLABS
  4. 4. Experiment: Background Background: A large, well-known financial consultancy. Goal: To increase the clickthrough rate to “make an appointment.” Research Question: Which page will generate the highest “make an appointment” clickthrough rate? Test Design: A/B multifactorial split test Experiment ID: TP1464 Record Location: MECLABS Research Library Research Partner: (Protected)
  5. 5. Experiment: Version A Version A Version A features a strategy that is fundamentally based on the expertise of the financial consultants. “Our Pros Find Mistakes … ” “Meet [a tax professional] who has expertise … ” “100% Accurate Calculations Guaranteed.” “Absolute Expertise.” “We translate the tax code … into plain English … ”
  6. 6. Experiment: Version B Version B Version B features a strategy that is fundamentally based on the convenient office locations as illustrated with the primary map image. “12,000 offices means we’re right in your neighborhood.” “Find an Office:” “… over 110,000 tax professionals … ”
  7. 7. Experiment: Side-by-side Version B Version A
  8. 8. Experiment: Results Relative increase in clickthrough232% The two-column design (not focused on the map) generated a 231.8% increase in clickthrough. Page Design Clickthrough Rate Version A (expertise strategy) 13.04% Version B (location-focused) 3.93% Version A’s % Relative Change: 231.8%
  9. 9. What you need to understand FKey Principles Discovering the right value proposition is the most effective lever marketers can pull when optimizing pages. Conversion Sequence Wherein: “C” = Probability of conversion “m” = Motivation of user “v” = Force of the value proposition “i” = Incentive (additional) to take action “f” = Friction elements present “a” = Anxiety elements present C = 4m + 3v + 2(i-f) - 2a ©
  10. 10. An overview of Q1 research 232%Click Rate
  11. 11. 1/8: Responsive design tested Unresponsive Responsive Mecla.bs/responsivedesign No Difference
  12. 12. 1/8: Responsive design tested FKey Principles Responsive design is only as effective as the degree of change it affects in the mind of the customer on two levels: 1. Friction: How much will responsive design decrease perceived effort? 2. Anxiety: How much will responsive design decrease perceived concern?
  13. 13. 1/22: How many columns should I use? 2-Column Layout 1-Column Layout Mecla.bs/pagecolumns 681%Conversion Rate
  14. 14. 1/22: How many columns should I use? FKey Principles The number of columns ideal for a webpage all depends on where the customer is in the mental (not physical) conversion funnel. From there, we can apply two underlying principles: 1. The more we know about what the visitor wants, the more we should focus on that desire. 2. The less we know about what the visitor wants, the more we should enable the them to self-select.
  15. 15. 2/12: Email messaging tested VS. Control Treatment Mecla.bs/emailmessaging 13%Conversion Rate
  16. 16. 2/12: Email marketing tested FKey Principles We must ensure that our calls-to-action are not asking for too much (cost), too soon (prior to the customer understanding the value). We must present the right “asks” at the right time.
  17. 17. 2/26: Radio buttons vs. dropdowns Treatment 2 Treatment 1 Mecla.bs/radiovsdropdown 8.8%Conversion Rate
  18. 18. 2/26: Radio buttons vs. dropdowns FKey Principles In our attempts to minimize friction (length-oriented) through dropdowns, we can undermine the conversation with the customer in two ways: 1. Intensifying difficulty-oriented friction 2. Eliminating necessary value force In the end, increasing conversion is less about the technique (dropdowns vs. radio buttons), and more about understanding the entire mental impact (value vs. cost).
  19. 19. 3/12: The most effective CTAs Treatment A Treatment B Treatment C Treatment D Treatment E Mecla.bs/effectivectas 12%Click Rate
  20. 20. 3/12: The most effective CTAs FKey Principles The call-to-action cannot be viewed in a vacuum; it must be viewed in context of the entire conversation that is occurring in the customer’s mind. Further, there are five principles common to calls-to-action that produce a significant increase in response: 1. The principle of alignment 2. The principle of timing 3. The principle of absorption 4. The principle of negation 5. The principle of redundancy
  21. 21. 3/26: Lead nurturing tested Treatment A Hello, ___, my name is Lisa and I am calling with [Insurance Company]. We are currently the fifth largest life insurance carrier in the nation offering competitive rates and solutions to help ease administration burdens. When we last spoke, you told me that you work with a broker for your price quotes for the group life benefits. I would like to get your broker contact information in order to be in consideration when they next do their evaluations for you. Hello, ___, my name is Lisa and I am calling with [Insurance Company]. When we last spoke, you told me that you work with a broker for your price quotes for the group life benefits. Since we do not nationally advertise and may not have had the opportunity to work with your consultant, we would like to share our information with them. I would like to get your broker contact information in order to be in consideration when they next do their evaluations for you. Treatment B Mecla.bs/leadnurturing 31%Call-back Rate
  22. 22. 3/26: Lead nurturing tested FKey Principles The goal of marketing is not simply to make a claim, but rather foster a conclusion through: 1. Anchoring the message to the context 2. Connecting the value proposition to the prospect 3. Aligning the argument to the “ask”
  23. 23. Case Studies Announced
  24. 24. Live optimization Primary Audience Primary Objective Register for webinar Managers and above http://bit.ly/1gIxDLB
  25. 25. Live optimization Primary Audience Primary Objective Register for course Tea enthusiasts http://bit.ly/1qlZruF
  26. 26. Live optimization Primary Audience Primary Objective Find a meditation teacher People with anxiety http://bit.ly/1kHj8eR
  27. 27. Live optimization Primary Audience Primary Objective Product information Customers seeking security http://bit.ly/OyAnUW
  28. 28. Live optimization Primary Audience Primary Objective Free trial demo HR professionals http://bit.ly/1hY8am8
  29. 29. Live optimization Primary Audience Primary Objective Product search People shopping for stock photos http://bit.ly/1jrhgHH
  30. 30. Live optimization Primary Audience Primary Objective Be a resource Consumer search http://bit.ly/1hY8Xn2
  31. 31. Live optimization Primary Audience Primary Objective Lead generation Mountain bikers http://bit.ly/OyCiJl
  32. 32. Live optimization Primary Audience Primary Objective Event registration Mid Ulster business owners http://bit.ly/Q0bHpr
  33. 33. Live optimization Primary Audience Primary Objective Lead generation Mobile customer care managers http://bit.ly/1eoXSXv
  34. 34. Next Clinic: Background Background: An independent vitamin manufacturer and distributor. Goal: To increase the total revenue from the page. Research Question: Which page will generate the highest total revenue? Test Design: A/B multifactorial split test Experiment ID: TP1903 Record Location: MECLABS Research Library Research Partner: (Protected)
  35. 35. Next Clinic: Version A Version A Version A uses a typical radio button format for each of the offers.
  36. 36. Next Clinic: Treatment Version B Version B utilizes a horizontal matrix strategy to present the offers.
  37. 37. Next Clinic: Side-by-side Version B Version A
  38. 38. Live April 23 at 4:00 p.m. EDT • The results of the test • The transferable key principles behind the changes • The three steps to balancing your products • Quick suggestions for your own pages through live optimization Join the next live 35-minute Web clinic to discover: Next Clinic: Marketing multiple products To join live, register at the link below: MarketingExperiments.com/MultipleProducts
  39. 39. See how you can conduct research with us MECLABS conducts rigorous experiments in the new science of optimization. We apply our discoveries to help leaders optimize the financial performance of their sales and marketing programs. Learn more about how you may be a fit for a MECLABS Research Partnership: • Select Research Partnership Opportunities on the post-webinar survey • Contact us directly info@MECLABS.com 1-877-635-0565 x

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