Conversion Rate Optimisation - A fundamental part of your digital marketing strategy
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Conversion Rate Optimisation (CRO) is a highly successful method of using analytics, data and feedback to improve your online store's performance.
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Conversion Rate Optimisation - A fundamental part of your digital marketing strategy
- 2. Gavin Lowther Senior Conversion Analyst @ Visualsoft CONVERSION RATE OPTIMISATION A fundamental part of your digital marketing strategy
- 3. Discussion points... What is Conversion Rate Optimisation Industry Statistics Impact of CRO What CRO is not Where to start Results
- 4. What is CONVERSION RATE OPTIMISATION?
- 5. Conversion Rate Optimisation is the process of increasing website leads and sales without spending more money on attracting new visitors via the primary marketing channels. Constant testing and refining website elements based on analytical data and qualified feedback. “In internet marketing, conversion rate optimisation (CRO) is the method of creating an experience for a website or landing page visitor with the goal of increasing the percentage of visitors that convert into customers. It is also commonly referred to as CRO.” - wikipedia Conversion Rate Optimisation referred to as ‘CRO’
- 6. Industry statistics 90 % of marketers rate conversion rate optimisation as important or crucial, only 1% believe it to be of no importance. 82% of client-side respondents said that conversion rate optimisation has become more important in 2015. 73% of companies reported increases in conversion rate during 2015. In 2015 AB testing was the top method of improving conversion rate, followed closely by surveys. But customer journey analysis was deemed the most valuable.
- 7. 2015 statistics In 2015 53% of marketers rated CRO crucial to their marketing strategy. If you are thinking quite important or not important you are in the minority!
- 8. Hands up! Which best suits you... How satisfied are you with your conversion rate? 1. Very satisfied 2. Quite satisfied 3. Neither satisfied nor dissatisfied 4. Quite dissatisfied 5. Very dissatisfied
- 11. Huge impacts of tiny increases To keep the maths simple let’s assume the following: Sessions: 100,000 Average order value: £100 Current Conversion Rate: 1% What does a tiny increase in conversion rate do to overall revenue: New Conversion Rate of: 1.1% - a 0.1% increase Extra 100 transactions Extra £10,000 in revenue
- 12. Why is conversion rate optimisation different? A key point that makes conversion rate optimisation different to all other marketing channels Achieved results: 0.1% increase in conversion rate Extra 100 transactions Extra £10,000 in revenue Any increase or improvements made, stay with the website for good, meaning the initial costs continue to be recouped.
- 13. Demographics
- 15. What conversion rate optimisation is not Conversion rate optimisation is not... About guesswork or hunches Button colour and font size What everyone else is doing Driven by the highest paid person's opinion
- 16. Where do we start?
- 17. The quick wins After taking a step back and defining your goals it is likely that you are able to define some obvious changes that you can make.
- 18. Types of outcomes/actions Obvious Changes Data changes Actions that will need testing By Listing your findings you can then categorise them into 3 distinct areas:
- 19. A/B testing “A/B testing (sometimes called split testing) is comparing two versions of a web page to see which one performs better. You compare two web pages by showing the two variants (let's call them A and B) to similar visitors at the same time. The one that gives a better conversion rate, wins!” - vwo
- 20. Multivariate testing “Multivariate testing is a technique for testing a hypothesis in which multiple variables are modified. The goal of multivariate testing is to determine which combination of variations performs the best out of all of the possible combinations.” - optimizely
- 21. User testing User testing allows you to record real users on your website while they complete given tasks. This enables you to view how users interact and navigate your website to gain real insight into usability. Navigate to the homepage Use the navigation to navigate to your favourite product Add this product to your basket Continue to checkout
- 22. Analytics Data is key! You already have the data needed to make decisions and assumptions to base changes and tests on. Demographic data is already available. Results Customer journey analysis
- 24. Checkout testing Checkout before and after
Editor's Notes
- Introduce yourself - Presented by Gavin Lowther - Senior conversion analyst. Google Analytics Qualified and the main Analytics specialist at VS. In ecommerce for just over 10 years. Today we are going to chat about conversion rate optimisation and more importantly why it’s one of the most fundamental parts of your digital marketing strategy. A bit about my role at Visualsoft: Head up the CRO team Main aim is to improve the websites we work on - clients websites and our own. Google Analytics maybe 5 hours a day. Referred to as CRO!
- What is Conversion Rate Optimisation - everyone should know this hopefully - if not i'll try to explain the bigger picture! Industry Statistics - want to take you through some industry statistics, how seriously other companies and competitors are taking CRO. Impact of CRO - why this could be so important for your business and how does it pay for itself! What CRO is not - CRO covers a huge spectrum - not just things like button colours - i'll explain later Where to start - what can you do? How can you make a difference? How does it work? What’s your options? Results - 2 examples
- Everyone in the room should have heard of conversion rate optimisation essentially the process of making a website work harder.
- It’s highly measureable, fact based optimisation based on experimentation, constant testing of ideals and trialling Leads and sales - most in the room will be ecommerce but the principles are the same for both leads and sales Think about macro and micro conversions Macro - the main goal - ecommerce sale for most. Micro - newsletter signups, pdf downloads, size calculator - anything that collects data or is useful! CRO related to both macro and micro! Can be used for both! Some changes to the website won’t increase the macro, but may increase the micro… Example is that for lead gen, changes to one page may not increase leads but may increase email subscribers, so CRO is still working. another eg. we know that changes we’ve made to the search suggestion box has impacted on conversion rate. Micro impacting on Macro conversions! Users that use site search ted to convert 4 times higher - Visualsoft stats - so make the search box more useful, more visible and you’d think that would help (we’ve tested that it does) Ecommerce websites will want to maximise other areas such as add to basket, pdf downloads, blog usage etc...
- Want to run through some industry statistics, ideally to display just how important it is to carry out conversion rate optimisation. Read slide! AB testing and other methods I will run through later in more detail.
- Just to add, looking at the above graph, if you are sat thinking you don’t do it or it’s not really that important you are in the minority. It’s incredibly important that you are at least thinking about it! Websites will never be perfect no matter how good they are, take ASOS for example, they have testing running constantly. You may expect there website to be perfect.
- Try to get a gauge or judge the audience. Hands up in the room if you are: Very satisfied Quite satisfied Neither satisfied nor dissatisfied Quite dissatisfied Very dissatisfied
- So compared to the hands raised, this is how you compare to the econsultancy survey. Very few are satisfied! In the survey the areas tested were as follows, some have more impact than others but it's important that all areas are looked at.
- The best thing about CRO!!!!! Tiny increases have huge impacts. My favourite part of CRO - the power of it, proving its worth! Before you do anything it needs to be clear what you are trying to achieve Goals, sales, engagement, anything measurable that you’d like to see an improvement on. Key thing is that everything is trackable, measurable and gives a value back to the company/website.
- A quick calculation and you could relate this to your own statistics. Statistics could be monthly, weekly or daily depending on your website size. A standard conversion rate in some industries of 1% How powerful could it be for you?
- Increase your understanding of customers/users. Increase revenue/leads. Improve website usability. Increase ROI and performance of other marketing channels. Any increase and improvements made stay with the website for good meaning the initial costs continue to be recouped. Most important point - increases stay with the website so the initial costs are recouped Costs can be recouped for months afterwards - where as other marketing channels when you stop so will your progress. Explain if a change is made that has a positive increase then for all other time periods increases will continue to be made. Don't stop there, if you see good increases then keep going… CRO should never stop!!! It's a circle that just keeps going!
- So we have talked about the benefits of CRO, one point was understanding your demographics. This is detrimental to CRO and how to understand it fully. Understand your demographic, it’s likely to be very different to your competitors or the website you really like. Your website needs to be tailored to your visitors: Age - would an 60 year old use a website differently to a 25 year old? Think about devices here too, tablet, mobile, desktop. Gender - do male users browse as much as females or do they just want to buy as quick as possible? Interests - Is your website highly related to specific interests? Does your advertising and onsite messages need to change? Shopping behaviour - is your product a considered purchase? Will users visit multiple times before making a purchase? Range rover, tvs, socks. Touch points and moments - we talk about touch points as every user enters the website, we also use moments to consider where the user is at on their buying journey. These all need to be considered and thought about.
- Even if websites are similar and sell similar products, due to external options such as pricing, previous marketing activities and branding your demographic will always be different. Above are 2 footwear retailers, both retailers sell branded footwear that heavily cross over with the same product ranges. So why are they so different? Different branding appeals to different age groups or genders Different marketing strategies over the years Different pricing to generate a different more sales in different brands. More data collection for repeat purchase. Age of company and trust! Whole host of other things... Therefore its about your own website, not anyone else's.
- So what else is CRO not about: Guesswork or hunches - not saying there's not going to be obvious bits though. Obvious things will need to be changed but it's the “we will do this because we think it is better” Button colour - very common CRO pitch from other agencies - this is maybe 1% of the overall CRO picture. What everyone else is doing - remember the footwear examples… just because it works for a competitor or ASOS, Amazon, Currys, Wiggle - doesn't mean it will work for you!!! Different demographics!! Highest paid people - use an example of proving directors wrong (or seniors within the company)
- Before you do anything it needs to be clear what you are trying to achieve Goals, sales, engagement, anything measurable that you’d like to see an improvement on. Key thing is that everything is trackable, measurable and gives a value back to the company. Use analytics Benchmark your statistics Have clear vision Important to mention that changes via CRO don't always have a positive impact, however this is also a good thing, you have proven your theory, so change it and go again!
- Expert knowledge - everyone in the room has this expert knowledge, you just need to step back and apply it. You know how your customers shop and you know the products…you know what impacts on the customers from your site. You’re more of an expert than you think at making tweaks to your site... Working on the same website daily, you won’t notice the problems or issues! You can’t appreciate a site like a customer does Use external influence from agencies like Visualsoft to discover problems or take a step back to get a broader picture Use as much data as possible - will give better insight into overall consumer engagement. Questions: Have any of you noticed anything on your own sites you think you should change? Or customers have mentioned? Things you need to do and keep putting off etc?
- Overall once you have reviewed data, reviewed the website, demographic, dug into analytics for analysis: Segment your findings into 3 distinct areas Obvious changes - you may have a broken image, no link, old banners, a category with no products etc… Data changes - no filters in a category, bad product data, no brand or manufacturer description… Actions that need testing - ideas that you have but you no one can be certain that they would work - infinite scroll or pagination, colour of branding change, horizontal navigation changes, site search placement… So 1 and 2 are easy… changes you can all make yourself (We (I) can help you with the research too) 3 - How do we go about testing and more in depth collection of data - to get around that blindness and prove results.
- Traffic is split between 2 versions, not always 50/50 if the changes might be detrimental. A,B,A,B,A,B,A,B,A,B,A,B round the room as you enter the website. Visual Website Optimiser (VWO) Optimizely Both the above are basic - VS can test any part or any settings on Visualsoft websites.. Statistics can then be viewed within Google Analytics - this will give you a direct comparison on the same day with the same traffic with the same offers on site.
- again explain and use optimizely. Maybe, an image, a product title and a product description to be tested all at once. Will find the most powerful combination. We can carry out testing the testing for you Statistics can then be viewed within Google Analytics - this will give you a direct comparison on the same day with the same traffic with the same offers on site.
- Explain the whole process and then view the youtube video, watch a few mins of this stopping and rewinding when you find an interesting bit. Select demographic Select a set of questions to follow - can be tailored to your main goals or what you are trying to prove. Review the videos It’s not so much about what they say it’s where they navigate to and try to click. On the example vid start at 4 mins. https://www.youtube.com/watch?v=m9D1suUiZjo
- Important to mention that changes via CRO don't always have a positive impact, however this is also a good thing, you have proven your theory, so change it and go again! All results are in GA Customer Journey Analysis So much data at your fingertips - just takes time
- Months and months of fine tuning… Analytics used to change header and split out the search bar - users that used search converted higher. Research carried out to move more above the fold on the most common monitors. USPs and confidence builders moved to enable more cross selling to increase average order values. Call to action button colour tested. User testing used to ensure users knew what colour they had selected Secondary images made more clear as research carried out to suggest they were not getting used. Especially the 360 view. Customer services bar added to the side - helpful and confidence building.
- Problem: Dated checkout and non responsive - how do we make it better? Research carried out reading white papers. Research carried out across a number of different websites considered as big players - apple, john lewis, currys, boohoo… the list goes on. All research collated and fed into a new design, designed mobile first, tablet and then desktop to ensure its good for all. Both checkouts user tested and tweaks made due to the results. AB test started on multiple clients. Constant tweaks made through the testing period. Results collated, over a 20% increase on basket to success page conversion rate. Still working on tweaks here and there as the testing is continued.
- Time restraints - we can help Overwhelmed - we can help Speak to me after, any questions?