How to improve your website conversion Econsultancy/RedEye Conversion Rate Optimization Report 2014 and survey What improves conversion Maturity model

1. How to improve your website conversion
Linus Gregoriadis, Research Director Econsultancy
Mark Patron, CEO RedEye

2. 2
Agenda
• Econsultancy/RedEye Conversion Rate Optimization
Report 2014 and survey
• What improves conversion
• Maturity model

3. 3
Econsultancy/RedEye CRO Report 2014
• Over last 5 years surveyed thousands of digital marketers about
Conversion Rate Optimization (CRO)
• Respondents mostly UK/European based retail / e-commerce
0% 5% 10% 15% 20% 25%
Gaming & Gambling
Automotive
Manufacturing
Healthcare & Pharmaceuticals
Consumer Goods
Professional Services
Charities, Government & Non…
Travel & Leisure
Other (please specify)
Financial Services
Technology, Media & Telecoms…
Retail

4. 4
Growing importance of conversion rate optimisation
• More people work on conversion rate optimisation today than five
years ago
• In 2009 40% of companies had no one responsible for website
conversion, today this is down to 27%
• In 2009 20% of companies had more than one person responsible
for CRO, today it is up to 42%

5. 5
Satisfaction with conversion rates consistently low
0%
26%
37%
25%
11%
1%
24%
34%
28%
12%
1%
21%
36%
32%
9%
2%
26%
32% 31%
9%
0%
22%
41%
28%
8%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
Very satisfied Quite satisfied Neither satisfied
nor dissatisfied
Quite
dissatisfied
Very dissatisfied
2010 2011 2012 2013 2014

6. 6
Agenda
• Econsultancy/RedEye Conversion Rate Optimization
Report 2014 and survey
• What improves conversion
• Maturity model

7. 7
Methods used for improving conversion rates
Up from 32%
5 years ago
3%
21%
25%
30%
33%
34%
35%
35%
36%
37%
50%
54%
58%
67%
0% 20% 40% 60% 80%
Other
Expert usability reviews
Website personalization
Multivariate testing
Event-triggered / behavioural email
Usability testing
Cart abandonment analysis
Abandonment email
Segmentation
Competitor benchmarking
Online surveys / customer feedback
Copy optimization
Customer journey analysis
A/B testing
See next slide

8. 8
Methods companies plan to use
35%
47%
47%
47%
52%
54%
56%
56%
57%
58%
64%
67%
78%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
Expert usability reviews
Cart abandonment analysis
Abandonment email
Competitor benchmarking
Multivariate testing
Usability testing
Website personalization
Segmentation
Online surveys / customer feedback
Event-triggered / behavioural email
Copy optimization
Customer journey analysis
A/B testing

9. 9
Barriers preventing improving conversion?
4%
8%
11%
23%
25%
25%
25%
27%
28%
32%
57%
0% 10% 20% 30% 40% 50% 60%
Other
Reliance on third parties
Lack of ownership
Company culture
Siloed organization
Poor technology
Poor integration between systems
Lack of strategy
Conflict of interest between different departments
Lack of budget
Lack of resources

10. 10
Value and difficulty of different methods
Top 3 risers compared
to other methods

11. 11
Testing
Companies who have a large increase in sales run
three times more tests than those companies whose
conversion rates have not improved
Sales Average number of tests
each month
Large increase 6.45
Small increase 4.71
No change 1.63
Decrease 2.42

12. 12
Specifically for your website, what do you test?
11%
28%
44%
50%
50%
56%
67%
74%
80%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
Security fields
Product selection process
Checkout process
Promotions and offers
Images
Navigation
Copy
Page layout
Call to action buttons
2010 2011 2012 2013 2014

13. 13
How important to a successful testing strategy?
85%
72%
55%
23% 22%
13%
27%
40%
55% 62%
2% 1% 4%
22%
16%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Defining testing
goals and
objectives
Prioritising what to
test
Producing a test
plan
Incorporating
expert analysis
Choosing a
software
Very important Quite important Not important

14. 14
Customer Journey Analysis
• Customer journey analysis is the first step in
understanding what users are doing on your site
• Typically not a simple sales funnel
• Consider all primary user goals
• Cross device tracking is a challenge
• By understanding customer
journeys you can pull your
customers through your
site rather than push them,
inbound rather than
outbound marketing

15. 15
Importance of a structured approach
44%
33%
18%
11%
56%
67%
82%
89%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Significant increase
in sales
Small increase in
sales
No change in sales Decrease in sales
Structured approach No structured approach

16. 16
Perceived control over conversion rates
17% 15% 11% 14%
59%
52%
32%
34%
24%
32%
52%
52%
1% 5%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Significant increase in
sales
Small increase in sales No change in sales Decrease in sales
A great deal of control Quite a lot of control Very little control No control

17. 17
Methods most correlated with improved conversion
• A/B testing
• Having a structured approach
• Perceived control over conversion rates
• Customer journey analysis
• Copy optimisation
• Online surveys/ customer feedback
• Cart abandonment analysis
• Segmentation
• Use complementary methods…

18. 18
Complementary methods give better results
95% of companies who
used customer journey
analysis, copy
optimisation and
segmentation saw an
improvement in their
website conversion
compared to an
average of 72%
Increase/decrease in sales versus number of methods used:
customer journey analysis, copy optimisation or segmentation
39.3%
29.4%
12.5%
23.8%
29.6%
40.5%
37.5%
33.3%
31.1% 30.1%
50.0%
42.9%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
Significant
increase
Small increase No change Decrease
3 1 or 2 0

19. 19
Agenda
• Econsultancy/RedEye Conversion Rate Optimization
Report 2014 and survey
• What improves conversion
• Maturity model

20. 20
Conversion Maturity Model
Little control
of conversion
½ FTE person
responsible
for conversion
Starting to test
landing pages
Not using a
structured
approach
1 person
responsible
for conversion
Testing landing
pages
Starting website
testing
Structured
approach
to improving
conversion
2 people
responsible
for conversion
Using
segmentation
or personalisation
Doing 2 A/B
tests/month
£
TimeStarting Out Intermediate Strategic
Increasing number of complementary
methods used, tests and segmentation
≥

21. 21
Thank You
Download the full Econsultancy/RedEye Conversion Rate Optimization
Report 2014 at
http://econsultancy.com/reports/conversion-rate-optimization-report
See RedEye’s white papers on Conversion Rate Optimization at
http://www.redeye.com/events/whitepapersandreports/
mark.patron@redeye.com
mark.patron
uk.linkedin.com/in/markpatron