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Click to edit Master title style
• Click to edit Master text styles

How to Cultivate an
• Third level
Optimisation Progra...
Introduction style
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Hugh Kimber – UK Sales Director - Webtren...
Why should we optimise?
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– Second level
• Third level
–...
Why should we optimise?
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• Click to edit Master text styles
– Second level
Acquisition
Cos...
Costs increase, so do visitor
expectations Master title style
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Visitors e...
Where should it begin?

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Optimization
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– Second level
A...
Example: Home Insurance - Gender

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Difference from mean
Difference from mean

Conversion P...
Example: Home Insurance - Age

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Difference from mean
Difference from mean

Conversion Poin...
Example: Home Insurance – No. of Rooms

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Number of Bedrooms mean
Difference from - Differe...
Now you know more!

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•> Click to edit Master text styles
Hypothesize
>

–
PlanSecond

>

D...
First things First

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>

•Name at least one person on your staff to styles
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Build Momentum

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> Optimisation needs momentum to betext
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successf...
Creating the Culture of Optimisation

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Involve them!
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–...
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Dan Rainford
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General level
– Second Insurance,
• Thir...
Who are we….and what do we do?
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1765

Foundation:

1810

Taylors & Lloyds
founded

Foundat...
Insurance….more specifically Home Insurance!
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– Second ...
Challenges….with improving conversion
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1

2

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– Second ...
How….. has Optimize helped
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title style 4
1
2

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Idea – Second leve...
Example tests….and their results

3 challenger concepts, with the aim of converting more customers through to the next pag...
Example tests….and their results

How to convey what cover you get for your money. We used ticks and crosses to more clear...
Example tests….and their results

Our aim here was to simplify the payment page, get more people paying monthly and match ...
Example tests….and their results

The aim here was to improve conversion for users hitting our site on touch screen device...
Next steps….what does the future hold?
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• Click to editDesktop site optimisation - more s...
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– Second level

Any Questions?

• Third level

– Fourt...
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How to cultivate an optimisation program

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From simple A/B testing through to advanced, multi-channel, real-time contextual personalisation, this session will reveal why your business must adopt optimisation as part of everyday business culture in order to cultivate an exceptional digital experience.

Published in: Marketing, Business, Technology
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How to cultivate an optimisation program

  1. 1. Click to edit Master title style • Click to edit Master text styles How to Cultivate an • Third level Optimisation Program – Second level – Fourth level » Fifth level Host: Hugh Kimber UK Sales Director - Webtrends
  2. 2. Introduction style Click to edit Master title • Click to edit Master text styles Hugh Kimber – UK Sales Director - Webtrends – Second level > > 12 Years with Webtrends • Third level 4 Years Optimize Fourth level – » Fifth level Dan Rainford – Digital Optimisation Manager > > > 12 Years with the bank General Insurance Division Retail (Online Banking, eComemrce)
  3. 3. Why should we optimise? Click to edit Master title style • Click to edit Master text styles – Second level • Third level – Fourth level » Fifth level
  4. 4. Why should we optimise? Click to edit Master title style • Click to edit Master text styles – Second level Acquisition Costs • Third level – Fourth level » Fifth level WEBSITE ENGAGEMENT CAMPAIGN SUCCESS
  5. 5. Costs increase, so do visitor expectations Master title style Click to edit • Click to edit Master text styles Visitors expect – Second level • Third level Personalised – Fourth level » Fifth level Experiences
  6. 6. Where should it begin? Click to edit Master title style Optimization • Click to edit Master text styles – Second level Analytics • Third level – Fourth level » Fifth level Identify and quantify opportunities thru insight Test, segment and target to improve engagement
  7. 7. Example: Home Insurance - Gender Click to edit Master title style Difference from mean Difference from mean Conversion Point • Click to edit Master text styles -0.20% 0.10% -0.20% 0.10% Female Female Male Male Step 2 - About your Insurance – Second level Step 3 - Ancillary Products 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Step 4 - Your Quote 0.20% 0.20% 0.20% 0.20% -0.10% -0.10% -0.20% -0.20% Step 1 - About You • Third level Step 5 – Eligability Step 6 – Payment Page 0.30% – Fourth level 0.30% Step 7a - Pay by Monthly DD Page Step 7b - Pay by Annual DD Page » Fifth level -3.00% -3.00% -0.30% -0.30% 4.50% 4.50% -- -24.20% 24.20% -22.50% -22.50% -19.40% 19.40% --- Step 8 - Confirmation (Monthly) -0.90% -0.90% -0.30% -0.30% 0.70% 0.70% 0.30% 0.30% Step 8 - Confirmation (All) 4.30% 4.30% -3.60% -3.60% Step 7c - Pay by Credit Card Page Step 8 - Confirmation (Annual DD) Step 8 - Confirmation (Credit Card) Step 8 - Confirmation (Direct Debit) What is this telling me? There appears to be differences in approach to payment options, with women more strongly favouring their credit card relative to men
  8. 8. Example: Home Insurance - Age Click to edit Master title style Difference from mean Difference from mean Conversion Point - - 25 - 1825 -55 55+ • Click to edit180.60% 26263535 3535-55 -0.50% Master text 55+ 0.60% 0.20% 0.20% 0.20% 0.20% styles -0.50% Step 1 - About You Step 2 - About your Insurance Step 3 - Ancillary Products Step 4 - Your Quote Step 5 – Eligability Step 6 – Payment Page -3.40% -3.40% – Second level -1.00% -1.00% -2.20% -2.20% -2.20% • Third level - -1.70% -1.70% -0.20% -0.20% -0.60% -0.60% 8.10% 8.10% 8.80% 8.80% – Fourth -level Step 7a - Pay by Monthly DD Page -1.00% -0.20% »-1.00% level Fifth -0.20% Step 7b - Pay by Annual DD Page -2.20% -2.20% Step 7c - Pay by Credit Card Page -1.00% -1.00% Step 8 - Confirmation (Annual DD) Step 8 - Confirmation (Credit Card) Step 8 - Confirmation (Direct Debit) Step 8 - Confirmation (Monthly) Step 8 - Confirmation (All) 1.10% 0.50% 0.50% 1.10% 0.60% -0.40% 0.60% -0.40% 1.10% -0.60% 1.10% -0.60% 7.70% -19.90% 7.70% -19.90% 8.20% -18.50% 8.20% -18.50% -0.40% 0.60% -0.40% 0.60% -0.60% -0.60% 1.10% 1.10% -0.60% -0.60% -0.40% -0.20% 0.60% 0.60% -0.40% -0.20% - - - - - - - - - - - - - - - - - -0.20% 0.60% -0.40% -0.20% 0.60% -0.40% - -0.60% 1.10% -0.60% - - - -0.60% 1.10% -0.60% -0.20% 0.60% -0.40% - - - -0.20% 0.60% -0.40% What is this telling me? Older visitors appear to be more concerned when it comes to the Eligibility page, perhaps deterred by the obligations and small print
  9. 9. Example: Home Insurance – No. of Rooms Click to edit Master title style Number of Bedrooms mean Difference from - Difference from mean Conversion Point - 25 - 35 -55 • Click to edit180.60% 260.60% 350.20% -0.50% 1.00% Master -0.20% -0.50% text 55+ styles 0.60% Step 1 - About You 0.20% 1 2 -11.20% -1.10% -3.40% -1.70% 0.60% -0.20% 0.00% -5.90% -0.60% -2.20% 6.20% -8.10% 6.90% -8.80% – Second level -0.40% -1.00% Step 2 - About your Insurance Step 3 - Ancillary Products Step 4 - Your Quote Step 5 – Eligability Step 6 – Payment Page • Third level – Fourth level Step 7a - Pay by Monthly DD Page Step 7b - Pay by Annual DD Page Step 7c - Pay by Credit Card Page Step 8 - Confirmation (Annual DD) Step 8 - Confirmation (Credit Card) Step 8 - Confirmation (Direct Debit) Step 8 - Confirmation (Monthly) Step 8 - Confirmation (All) 3 4 5 0.90% 1.10% -0.20% 0.60% -0.20% 1.10% 6.60% 7.70% 7.90% 8.20% 0.90% 0.50% -0.30% -0.40% 1.60% -0.60% -14.10% -19.90% -16.90% -18.50% 2.20% 1.10% 1.30% - »-1.00% level Fifth 7.20% -0.20% 7.20% -2.20% -1.00% - - 11.40% -22.60% 0.60% -0.40% 11.40% -22.60% -0.60% 1.10% -0.60% -0.20% 8.80% 0.60% -0.40% - - - 6.90% -0.20% 6.90% 8.70% -0.60% 8.70% 4.40% -0.20% 4.40% - - 8.30% 8.30% 8.10% 0.60% 8.10% 7.40% 1.10% 7.40% 9.00% 0.60% 9.00% - - -17.70% -0.40% -17.70% -18.50% -0.60% -18.50% -17.10% -0.40% -17.10% What is this telling me? 4 bedroom houses are far less inclined to convert in comparison to the average. It appears higher level of premiums encourages more consideration and research and abandonment once a quote has been provided
  10. 10. Now you know more! Click to edit Master title style •> Click to edit Master text styles Hypothesize > – PlanSecond > Develop > Execute level • Third level – Fourth level » Fifth level
  11. 11. First things First Click to edit Master title style > •Name at least one person on your staff to styles Click to edit Master text be responsible – Second level > • requires perpetual planning OptimisationThird level – and consideration Fourth level » Fifth level > Don’t leave to a committee
  12. 12. Build Momentum Click to edit Master title style > Optimisation needs momentum to betext • Click to edit Master a successful programme – Second level • Third level > To building momentum you need buy in – Fourth level » Fifth level > How do you get buy in from business? Share results styles
  13. 13. Creating the Culture of Optimisation Click to edit Master title style Involve them! • Click to edit Master text styles – Second level Two things will happen • Third level > They want to improve conversion, who – Fourth level doesn’t!? » Fifth level > So their interest will be peaked early > Curiosity will also play a part > They’ll want to know if their suggestion was best Acquisition Channels
  14. 14. Click to edit Master title style Dan Rainford • Click to edit Master text styles General level – Second Insurance, • Third Digital level – Fourth level » Fifth level Who are Lloyds Banking Group Insurance, what do we sell Business challenges in improving conversion How Webtrends Optimize has helped Example tests and results Next Steps….what does the future hold?
  15. 15. Who are we….and what do we do? Click to edit Master title style 1765 Foundation: 1810 Taylors & Lloyds founded Foundation: TSB • 1695 to edit Master text styles Click – Second level Foundation: BoS founded • Third level 2013 Launch: Lloyds Bank 1852 Foundation: Halifax building society 1837 - Queen – Fourth level 1666 – Great » fire of London 1865 Victoria comes Fifth throne to the level Expansion: Lloyds Banking Company 2007 – 1st gen iPhone launched 2009 Acquisition: Growth: Our main business activities are retail, commercial and corporate banking, general insurance, and life, pensions and investment provision We have over 25 million customers and employ c115k colleagues 1995 HBOS becomes part of LBG Lloyds Banking Group (LBG) is the UK's largest retail bank 2001 Growth: Halifax and BoS Merge 1997 Halifax bank: Creating 7.5m shareholders Lloyds acquires TSB We also have some of the UK’s best known financial brands, including Lloyds Bank, Halifax and Bank of Scotland
  16. 16. Insurance….more specifically Home Insurance! Click to edit Master title style • Click to edit Master text styles – Second level • Third level – Fourth level » Fifth level 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
  17. 17. Challenges….with improving conversion Click to edit Master title style 1 2 • Click to edit Master text styles – Second level Resource level Agility • Third – Fourth constraints level » Fifth level 3 Which is better? Getting it right first time is not always possible. Speed of change. Good ideas may have limited shelf life. Is the proposed change(s) better than the current process? With finite budgets or limited availability it can be hard to make best use of resource. When you do have a good idea its not always easy to make the change. This is perhaps the most pertinent point, will the change do what you expect it will?
  18. 18. How….. has Optimize helped Click to edit Master 3 title style 4 1 2 • Click to edit Master text styles Idea – Second level Results Compare generation• Third level performance – Fourth level Have helped me through What can we do and how » Fifth level should we approach a change. many discussions with risk and compliance areas. We’ve had some really useful discussions which have helped ‘Change supported with shape change beyond our own real customer performance statistics’. ideas. Knowing you can compare performance of any change(s) with the existing process you have is quite powerful. 5 Agility Leave the winner live The speed in which you can turn a concept or an idea in to a live test has impressed. The ability to leave live a champion test has to be one of the most valuable elements. You get the benefits of an optimal test right up to being able to make the change.
  19. 19. Example tests….and their results 3 challenger concepts, with the aim of converting more customers through to the next page. Click to edit Master title style • Click to edit Master text styles – Second level • Third level VS Winner +19% – Fourth level » Fifth level +11% +2% Sometimes simple changes generate big results, here 19% more people moved forwards to the next page
  20. 20. Example tests….and their results How to convey what cover you get for your money. We used ticks and crosses to more clearly articulate this. Click to edit Master title style • Click to edit Master text styles – Second level • Third level – Fourth level » Fifth level VS 3 premiums were presented, each offering increased levels of cover
  21. 21. Example tests….and their results Our aim here was to simplify the payment page, get more people paying monthly and match or better conversion. Click to edit Master title style • Click to edit Master text styles Winner – Second level • Third level – Fourth level VS » Fifth level Removing annual DD had no impact on conversion to sale. In addition there was a +10% increase in monthly.
  22. 22. Example tests….and their results The aim here was to improve conversion for users hitting our site on touch screen devices. Click to edit Master title style • Click to edit Master text styles Winner +3% – Second level • Third level – Fourth level VS » Fifth level By simplifying the design and increasing the size of key items we were able to increase the number of customers starting a quote by +3%, this is much closer to conversion observed on a PC or laptop
  23. 23. Next steps….what does the future hold? Click to edit Master title style • Click to editDesktop site optimisation - more step / journey alterations Master text styles – Second level • Third level – Fourth level Smartphone and tablet optimisation – launch and evolve the offering » Fifth level Optimisation of the non-customer facing insurance systems (Call centre) Performance baselines – discover more about customer behaviour
  24. 24. Click to edit Master title style • Click to edit Master text styles – Second level Any Questions? • Third level – Fourth level » Fifth level

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