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Boosting your Online Revenue - Hazjier Pourkhalkhali

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This presentation was given at the Optimizely Experience Munich 2015:


In this presentation you will learn:

- How to use analytics to find weaknesses on your website
- How to align these areas for optimization with your company goals
- How to incorporate these goals into a detailed testing plan

This is relevant for:

Digital Marketing
Product Management
User Experience
Web Analytics
E-Commerce

Sign up here for a free Optimizely account:

https://www.optimizely.com/

Learn more about how other companies use Optimizely to boost revenue online:

https://blog.optimizely.com/

https://blog.optimizely.de/

Published in: Data & Analytics
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Boosting your Online Revenue - Hazjier Pourkhalkhali

  1. 1. Boosting Your Online Revenue Hazjier Pourkhalkhali Senior Strategy Consultant, Optimizely
  2. 2. u Help clients develop comprehensive CRO strategy u Advise on best practices in Optimization Management u Problem solve complex optimization challenges Hazjier Pourkhalkhali Senior Strategy Consultant @Hazjier
  3. 3. 1 Understand Your Revenue Levers 3 Build Powerful Hypotheses 2 Develop a CRO Strategy
  4. 4. 1 Understand Your Revenue Levers 3 Build Powerful Hypotheses 2 Develop a CRO Strategy
  5. 5. Increase revenuesCompany Metric Improve RPVBusiness Unit Increase AOVOptimization Goals Raise CTR on Suggested Items Experiment Goals
  6. 6. User acquisition: 1.5m User retention 33% Add-to-Cart: 4.00% Cart Checkout: 50.0% Average quantity: 2.00 Average per unit price: £25.00 Average Order Value: £50.00 Conversion Rate: 2.00% Revenue Per Visitor: £1.00 Visitors: 2.0m Revenue: £2.0m Digital Commerce
  7. 7. Revenue Customer Lifetime Value Customer Lifetime Feature Usage Net Retention Monthly Revenue Initial Deal Size Net Expansion One-Time Upsells Customers Users User Acquisition User Retention Conversion Rate # of Steps Avg. Completion % / Step SaaS / Subscription-Based Companies
  8. 8. Homepage Category Page Product Page Shopping Basket Shipping Details Payment Page Conversions 44% 42% 8% 52% 87% 81% 41% 31% 44% 32% 11% 12% 15% 27% 48% 16% 7% Homepage to Category Category to Product Product to Basket Basket to Shipping Shipping to Payments Payments to Conversion 100% 44% 26% 7% 5% 4% 3% Continue down funnel Visit different page Exit website Where should you spend your efforts?
  9. 9. 1 Understand Your Revenue Levers 3 Build Powerful Hypotheses 2 Develop a CRO Strategy
  10. 10. User Acquisition: 1.5m User Retention: 33% Add-to-Cart: 4.00% Average Completion Rate Average Quantity: 2.00 Average Price Per Unit: €25.00 Average Order Value: €50.0 Conversion Rate: 2.00% Revenue Per Visitor: €1.00 Visitors: 2.0m Revenue: €2.0m Cart Checkout Rate: 50.00%
  11. 11. Goals Strategies Tactics Cart Checkout Rate Wording / messaging Location / size Design / color / icono- graphy Establish a visual hierarchy Remove non-critical content Limit number of choices Select/ target the right USP’s Refine the messaging Crystallize visually Clear and consistent UI Structure, naming, and order of sections Describe visually Test ideal product visuals Use the right review systems Descriptions Reviews Images Emphasize the Primary Call to Action Minimize Distractions Communicate Unique Selling Points Design Intuitive Navigation Market Products Effectively Build a Sense of Urgency Show quantity left Push temporary offers Promote buying before set times
  12. 12. Goals Strategies Tactics Cart Checkout Rate Wording / messaging Location / size Design / color / icono- graphy Establish a visual hierarchy Remove non-critical content Limit number of choices Select/ target the right USP’s Refine the messaging Crystallize visually Clear and consistent UI Structure, naming, and order of sections Describe visually Test ideal product visuals Use the right review systems Descriptions Reviews Images Emphasize the Primary Call to Action Minimize Distractions Communicate Unique Selling Points Design Intuitive Navigation Market Products Effectively Build a Sense of Urgency Show quantity left Push temporary offers Promote buying before set times
  13. 13. Emphasize the Primary Call to Action: Location / Size +20% Mobile Shares
  14. 14. Minimize Distractions: Remove Non-Critical Content +14% Revenue Per Visitor
  15. 15. Emphasize the Primary Call to Action: Wording / Messaging
  16. 16. Emphasize the Primary Call to Action: Wording / Messaging +29% CTR -­3% CTR -­10% CTR Original 30.5% CTR
  17. 17. 1 Understand Your Revenue Levers 3 Build Powerful Hypotheses 2 Develop a CRO Strategy
  18. 18. Case Study: Obama Contribute Form
  19. 19. Unregistered Users Registered Users Returning Donors 0.0% +2.3% -27.8% +15.2% +8.5% 0.0% +27.8% N/A -24.6% +2.9% 0.0% +16.3% N/A +11.9% +18.4%
  20. 20. § Page overly emphasizes price § Product benefits are understated § Call to Action below fold Problem Solution Result § Reduce size of price § Highlight discounts § Add product visuals § Duplicate CTA at top of page § Increase Conversion Rate § Increase Conversion Rate § Increase CTR to checkout Build powerful hypotheses
  21. 21. Thank You! Hazjier Pourkhalkhali Senior Strategy Consultant, Optimizely @Hazjier

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