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CO Base Deck ERP Final 100712
This document provides tips and strategies for optimizing conversions. It discusses understanding customer intent, simplifying the user experience, using analytics to identify focus areas, and testing assumptions. The document also describes conversion optimization as creating an experience to increase the percentage of users taking a desired action. It emphasizes continually testing landing pages and critical paths to improve engagement and addressing paid search opportunities to create demand.
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CO Base Deck ERP Final 100712
- 1. ©2012 Erik R Peterson -‐ #convcon @epeterson237 1 Top Conversion Op<miza<on Tips Erik R Peterson
- 2. ©2012 Erik R Peterson -‐ #convcon @epeterson237 ©2012 Erik R Peterson -‐ #convcon @epeterson237 2
- 3. ©2012 Erik R Peterson -‐ #convcon @epeterson237 ©2012 Erik R Peterson -‐ #convcon @epeterson237 • GTWTW! – Give Them What They Want • Understand Intent – Message match is essen<al • Get Into Their Heads – Where do they convert and why • Simplify Everything – Make it easy to find what they want • Use Analy<cs – It helps tell you where to start/focus for best ROI • Test the Obvious – Not all conversion best prac<ces work • Show Them the Money – Ar<culate the value of what you do to your client • Be the Change! 3 Top Conversion Op<miza<on Tips
- 4. ©2012 Erik R Peterson -‐ #convcon @epeterson237 4 Who are you? Crowdsourcing Part 1
- 5. ©2012 Erik R Peterson -‐ #convcon @epeterson237 5 Who am I? Crowdsourcing Part 1 FROMAGE O VIN
- 6. ©2012 Erik R Peterson -‐ #convcon @epeterson237 6 Successful marketers in the future will leverage “people with skills in scien&fic method, design of experiments, and sta&s&cal analysis.” ~ Avinash Kaushik, Digital Evangelist
- 7. ©2012 Erik R Peterson -‐ #convcon @epeterson237 How you can improve mul&ply online marke<ng performance for your client or business? Top Conversion Op<miza<on Results 7
- 8. ©2012 Erik R Peterson -‐ #convcon @epeterson237 Conversion Op<miza<on (CO) is the art and science of crea<ng an online experience with the goal of increasing the percentage of par<cipants to complete a desired ac7on. What is Conversion Op<miza<on? 8
- 9. ©2012 Erik R Peterson -‐ #convcon @epeterson237 9 Today’s Customer A Sneek Peek
- 10. ©2012 Erik R Peterson -‐ #convcon @epeterson237 10 Today’s Physical/Visual Environment
- 11. ©2012 Erik R Peterson -‐ #convcon @epeterson237 Conver<ng Pre-‐Click Demand 11 Conver7ng Demand • Improve UX to ensure increased consumer engagement • Con<nually test to op<mize landing pages and cri<cal paths Crea7ng Demand • Systema<cally address paid search improvement opportuni<es • Employ Search Engine Op<miza<on techniques Pre-‐Click Post-‐Click Impressions (Queries / Push) Clicks (Traffic) Ac7ons (Web Site) Conversions (Purchases) Consumer Insights – Industry Trends – Compe77ve Intelligence
- 12. ©2012 Erik R Peterson -‐ #convcon @epeterson237 CONVERSION OPTIMIZATION Conversion Funnel(s) Abandonment/Retarge7ng Landing Page(s) Landing Page Landing Page Landing Page Paid Search Display Natural Search Email Affiliate Traffic Source Segmenta7on New v Exis7ng Customer Returning Visitor Geo Loca7on Desktop Web Mobile Tablet Social Publisher PlaUorm Conversion Ac7on(s) Online Form Phone Calls Email Sign-‐ up Purchase $$$$$ Conversion Op<miza<on: Understanding the Journey 12
- 13. ©2012 Erik R Peterson -‐ #convcon @epeterson237 Cri7cal Path CO Analysis and Audit Audit iden<fied numerous improvements to conversion and how to test which path would lead to more conversions. Quote Tool Audit Audit focused on a mul<-‐step quote process analysis and recommenda<ons on reducing barriers to comple<on. My Account Audit Audit focused on compe<<ve analysis and recommenda<ons on reten<on opportuni<es via increased My Account registra<ons and bill pay sign ups. Geo Targeted Message Match Copy aligned to PPC ad and delivered to a specific region. Product Landing Pages Experiences aligned with specific products, gender or sales promo<ons. Dynamic Landing Pages Experiences that contain elements (images, layouts, content) that change based on keywords, loca<on, or prior visits. Hispanic Landing Pages and Insights Experiences (language, layout and imagery) designed for a Hispanic audience. Mobile Landing Page and Insights Experiences tailored to mobile devices and associated behaviors. Geo Targeted Landing Pages Copy and imagery customized to a specific region. 48% LIFT *Audit analysis forecast. 41% LIFT 20% LIFT* Conversion Outcomes: Latest Successes Driving ROI 83% LIFT 420% LIFT 27% LIFT 25% LIFT* 12% LIFT 20% LIFT* Used with permission by Performics
- 14. ©2012 Erik R Peterson -‐ #convcon @epeterson237 Case Study: eTailer Generates More Online Sales 14 Used with permission by Performics
- 15. ©2012 Erik R Peterson -‐ #convcon @epeterson237 Case Study: eComm Client Generates More Sales 15 Used with permission by Performics
- 16. ©2012 Erik R Peterson -‐ #convcon @epeterson237 Case Study: Sonware Maker Generates More Sales 16 Used with permission by Performics
- 17. ©2012 Erik R Peterson -‐ #convcon @epeterson237 Case Study: Leading Wireless Generates More Sales 17 Used with permission by Performics
- 18. ©2012 Erik R Peterson -‐ #convcon @epeterson237 Case Study: Customs Broker Generates More Sales 18 Used with permission by Performics
- 19. ©2012 Erik R Peterson -‐ #convcon @epeterson237 Case Study: Client Gets More Sales via Online Quotes 19 Used with permission by Performics
- 20. ©2012 Erik R Peterson -‐ #convcon @epeterson237 ©2012 Erik R Peterson -‐ #convcon @epeterson237 Let’s Play Moneyball
- 21. ©2012 Erik R Peterson -‐ #convcon @epeterson237 Paid Search Natural Search Non-Search Traffic All Traffic Sources Annual Traffic in 2011 2,200,000 100,000 2,300,000 4,600,000 Projected Annual Traffic 2,200,000 125,000 2,300,000 4,625,000 Conversion Rate in 2011 0.50% 2.75% 3.00% 1.80% Projected Annual Conversion Rate 0.52% 2.83% 3.09% 1.86% # of Completed Apps in 2011 11,000 2,750 69,000 82,750 Projected Annual # of Completed Apps 11,330 3,541 71,070 85,941 Incremental # of Completed Apps 330 791 2,070 3,191 Cost of Incremental Completed Apps $225,653 $443,756 $1,052,231 MoneyBall Example #1 – The 6X Mul<plier 3% 3% 3% 3% $1,721,700 25%
- 22. ©2012 Erik R Peterson -‐ #convcon @epeterson237 Paid Search Natural Search Non-Search Traffic All Traffic Sources Incremental # of Annual Completed Apps 330 791 2,070 3,191 Annual Cost of Incremental Completed Apps $297,000 $711,563 $1,863,000 Factor 1X 2X 6X $2,871,563 3% Conversion Lib Bodom Line: Crea<ng a 3% Lin Equals Huge Revenue Gains MoneyBall Example #1 – The 6X Mul<plier
- 23. ©2012 Erik R Peterson -‐ #convcon @epeterson237 Monthly PPC Traffic for Top Keyword Conversion Rate AOV Total Conversion Total Revenue 5,000 7.00% $1,500 350 $525,000 7.70% 385 $577,500 $52,500 Annual PPC Traffic for Top Keyword Conversion Rate AOV Total Conversion Total Revenue 90,000 7.00% $1,500 6,300 $9,450,000 7.70% 6,930 $10,395,000 $945,000 23 Bodom Line: Op<mizing One KW Could Make Millions! Monthly Incremental Revenue 10% Lib 10% Lib Annual Incremental Revenue MoneyBall Example #2 – Millions in One KW?!?!
- 24. ©2012 Erik R Peterson -‐ #convcon @epeterson237 24 Natural Search Actual Forecast Incrementals Revenue $95,000,000 $97,850,000 $2,850,000 AOV $95.00 Transac<ons 1,000,000 1,030,000 30,000 Traffic 83,000,000 83,000,000 -‐ Conversa<on Rate 1.20% 1.24% Lin Forecast 3.00% PPC Total (Brand/Gen) Actual Forecast Incrementals Revenue $165,000,000 $170,775,000 $5,775,000 AOV $90.00 Transac<ons 1,833,333 1,897,500 64,167 Traffic 65,000,000 65,000,000 -‐ Conversa<on Rate 2.82% 2.92% Lin Forecast 3.50% All Site Traffic Actual Forecast Incrementals Revenue $890,000,000 $920,600,000 $30,600,000 AOV $85.00 Transac<ons 12,000,000 12,360,000 360,000 Traffic 390,000,000 390,000,000 -‐ Conversa<on Rate 3.08% 3.17% Lin Forecast 3.00% Bodom Line: Every 1% lib in conversion equals $10 million incremental revenue MoneyBall Example #3 – What a 1% Lin Could Earn…
- 25. ©2012 Erik R Peterson -‐ #convcon @epeterson237 ©2012 Erik R Peterson -‐ #convcon @epeterson237 Let’s Play Real Time Conversion Op<miza<on
- 26. ©2012 Erik R Peterson -‐ #convcon @epeterson237 26 RELEVANCY – Is this page what I asked for? IMPACT – Why am I here and not somewhere else? FOCUS – Where do I start? What do I do? SIMPLICITY – Will this be easy to do? 5 Second Rule
- 27. ©2012 Erik R Peterson -‐ #convcon @epeterson237 Quick Analysis: “Colored Contacts” 27
- 28. ©2012 Erik R Peterson -‐ #convcon @epeterson237 28 5 Second Rule
- 29. ©2012 Erik R Peterson -‐ #convcon @epeterson237 29 5 Second Rule RELEVANCY – Is this page what I asked for? IMPACT – Why am I here and not somewhere else? FOCUS – Where do I start? What do I do? SIMPLICITY – Will this be easy to do?
- 30. ©2012 Erik R Peterson -‐ #convcon @epeterson237 30 5 Second Rule
- 31. ©2012 Erik R Peterson -‐ #convcon @epeterson237 Quick Analysis: “Colored Contacts” 31 ?????
- 32. ©2012 Erik R Peterson -‐ #convcon @epeterson237 FUNNEL (Lead Gen) ENTRY Understanding and op<mizing the Consumer Journey leads to increased ROI and mul<plying media investments (as much as 4 <mes depending on AOV or LTV). Conversion Op<miza<on: The Consumer Journey 32
- 33. ©2012 Erik R Peterson -‐ #convcon @epeterson237 33 $50 Gib Card Challenge Top 3 Major Conversion Path Issues (KPI – Form Completes) (KPI – Genng Free Contacts) shhh… one issue is a huge!!!! Send your homework to me at: epeterson237@gmail.com Subject Line: ConvCon Acuvue Review Crowdsourcing Part 2
- 34. ©2012 Erik R Peterson -‐ #convcon @epeterson237 ©2012 Erik R Peterson -‐ #convcon @epeterson237 • GTWTW! – Give Them What They Want • Understand Intent – Message match is essen<al • Get Into Their Heads – Where do they convert and why • Simplify Everything – Make it easy to find what they want • Use Analy<cs – It helps tell you where to start/focus for best ROI • Test the Obvious – Not all conversion best prac<ces work • Show Them the Money – Ar<culate the value of what you do to your client • Be the Change! 34 Top Conversion Op<miza<on Tips
- 35. ©2012 Erik R Peterson -‐ #convcon @epeterson237 Make the World a Bewer Place 35 Power of Words
- 36. ©2012 Erik R Peterson -‐ #convcon @epeterson237 ©2012 Erik R Peterson -‐ #convcon @epeterson237 EPeterson237@gmail.com LinkedIn.com/in/EPeterson237 @EPeterson237 Thank You. 36