Jon Powell - MECLABS - offer response optimization - IMS Boston 2012

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Jon Powell - MECLABS - offer response optimization - IMS Boston 2012

  1. 1. Offer  Response  Op+miza+on   Learn  how  to  replicate  a  331%  li2  in   your  own  inbound  marke9ng  efforts  
  2. 2. Session  Speaker   Jon  Powell   Marke+ng  and  Sales  Funnel  Op+miza+on   MECLABS     A  tes.ng  and  op.miza.on  veteran  with  hands-­‐on  experience   gained  through  managing  hundreds  of  A/B  and  mul.variate  tests   for  ecommerce,  healthcare,  financial,  and  educa.on  Research   Partners  and  clients.  Jon  studies  prospects,  products  and   processes  to  help  organiza.ons  strategically  write  themselves  in   the  stories  of  those  that  interact  with  them.      @JonPowell31   Recent  test  highlights:       331%  increase  healthcare  search  traffic  lead  conversion  rate   672%  increase  educa.on  program  site  applica.ons   129%  increase  educa.on  program  browsing  lead  conversions  
  3. 3. Inbound  Offer  Response  EXPERIMENT  
  4. 4. Background  and  Test  Design      Experiment  ID:  MTCA  Microsite  Test     Loca+on:  Marke.ngExperiments  Research  Library   Test  Protocol  Number:  TP1560   Research  Notes:   Background:  Migraine  Treatment  Centers  of  America  offers  an  innova.ve   long-­‐term  migraine  treatment  solu.on  to  people  suffering  from  migraines.       Goal:  To  increase  leads  from  the  website     Primary  Research  Ques+on:  Which  value  exchange  strategy  will  result  in  a   higher  conversion  rate?     Approach:  A/b  mul.factor  split  4  
  5. 5. Experiment:  Version  A   The  control  landing   page  casts  a  broad   net  and  aVempts  to   bridge  all  content  to   ac+on  connec+on   with  a  single   message  and  CTA.  5  
  6. 6. Experiment:  Version  B   The  treatment   accounts  for   three  major  lead   types  with  three   evenly  weighted   columns.  6  
  7. 7. Experiment:  Side-­‐by-­‐side   Version  A   Version  B   7  7  
  8. 8. Experiment:  Results                331%  Increase  in  lead  rate                      The  Treatment  generated  330.6%  more  conversions  than  the  Control   Stat.   Version   CR   Rel.  diff   Conf   Version  A   1.6%   -­‐   -­‐   Version  B   7.0%   330.6%   99%        What  You  o  ac9on  tUnderstand:  Bsequence  of  the  tontent   and  calls  t Need  to   o  the  thought   y  matching  the  c hree   primary  prospect  types,  Version  B  generated  a  331%   higher  conversion  rate  than  the  control.  8  
  9. 9. What  made  this   Version  B   approach  so   successful?  9  
  10. 10. What  we  discovered     Key  Principles   1. Too  o^en,  marketers  take  a  rule  based  approach   to  marke.ng  their  content  10  
  11. 11. Rules  vs.  Science   Rule-­‐based   Science-­‐based   vs.     Op4miza4on   Op4miza4on     Prac+ce   •  Emphasize  hero  shots   •  Keep  it  above  the  fold   •  Avoid  too  much  copy   Methodology   •  Emphasize  the  Benefits   •  Don’t  use  reverse  text   •  Don’t  rely  too  much  on  Flash   •  Implement  basket  recovery  emails   Meta-­‐theory   •  Avoid  auto-­‐on  audio  11  
  12. 12. What  we  discovered     Key  Principles   1. Too  o^en,  marketers  take  a  rule  based  approach   to  marke.ng  their  content   2. To  find  gains  when  rules  don’t  work,  a  scien.fic   approach  is  needed  12  
  13. 13. Offer  Response  Op+miza+on  A  SHOPPING  EXPERIENCE  
  14. 14. A  Shopping  Experience  14  
  15. 15. The  Result  15  
  16. 16. A  Common  Problem  16  
  17. 17. The  MECLABS  Conversion  Index   C  =  4m  +  3v  +  2(i-­‐f)  -­‐  2a   ©   Wherein:   C  =  Probability  of  conversion   m  =  Mo.va.on  of  user   v  =  Clarity  of  the  value  proposi.on   i  =  Incen.ve  (addi.onal)  to  take  ac.on   f  =  Fric.on  elements  present   a  =  Anxiety  elements  present  17  
  18. 18. Perceived  Value  Exchange   Perceived   Cost   Perceived   Value  18  
  19. 19. Mo+va+on  EXPERIMENT  
  20. 20. Experiment:  Background      Experiment  ID:  NAS  Content  Approach     Loca+on:  Marke.ngExperiments  Research  Library   Test  Protocol  Number:  TP40XX   Research  Notes:   Background:  Medical  provider  specializing  in  trea.ng  chronic  back  pain.  They   are  the  sole  providers  of  a  minimally  invasive,  innova.ve  pain  management     procedure.     Goal:  To  plan  a  content  marke.ng  strategy  based  on  the  copy  focus  that   generates  the  most  appeal  in  condi.on-­‐based  searchers.     Primary  Research  Ques+on:  Which  content  focus  (copy)  will  achieve  a  higher   clickthrough  rate?     Approach:  A/B  Mul.factor  Split  Test    20  
  21. 21. Treatments   Back  Pain  Resources   Causes  &  Solu.ons   [Condi.on]  Sufferer?   [Condi.on]  Sufferer?   Free  access  to  back  pain  resources   Learn  about  the  causes  &  solu.ons,   from  the  experts  in  spine  health.   from  the  experts  in  spine  health.   NorthAmericanSpine.com/[condi.on]   NorthAmericanSpine.com/[condi.on]   Symptoms   Treatment  Op.ons   [Condi.on]  Sufferer?   [Condi.on]  Sufferer?   How  to  recognize  the  symptoms,   Compare  available  treatments,   from  the  experts  in  spine  health.   from  the  experts  in  spine  health.   NorthAmericanSpine.com/[condi.on]   NorthAmericanSpine.com/[condi.on]  21  
  22. 22. Results   T1:  Back  Pain  Resources   T2:  Treatment  Op.ons   [Condi.on]  Sufferer?   [Condi.on]  Sufferer?   Free  access  to  back  pain  resources   Compare  available  treatments,   from  the  experts  in  spine  health.   from  the  experts  in  spine  health.   NorthAmericanSpine.com/[condi.on]   NorthAmericanSpine.com/[condi.on]   T3:  Causes  and  Solu.ons   T4:  Recognize  Symptoms   [Condi.on]  Sufferer?   [Condi.on]  Sufferer?   Learn  about  the  causes  &  solu+ons,   How  to  recognize  the  symptoms,   from  the  experts  in  spine  health.   from  the  experts  in  spine  health.   NorthAmericanSpine.com/[condi.on]   NorthAmericanSpine.com/[condi.on]   What  You  Need  to  Understand   " We  discovered  that  the  symptom  copy  focus  recorded  a   99.7%  rela4ve  increase  in  click-­‐through  rate  22  
  23. 23. What  we  discovered     Key  Principles   1.  Prospect  mo.va.on  cannot  be  determined…it  must  be   discovered   2.  Mo.va.on  has  the  highest  coefficient  because  it  is  the  most   important  deciding  factor  in  the  sales  process.   3.  Prospect  mo.va.on  can  be  based  upon   1)  internal  mo.va.ons  of  the  prospect  and     2)  external  events  surrounding  a  prospect  23  
  24. 24. Mo.va.on   Internal  Relevance   External  Relevance   •  Personal  interests     •  Seasonality   •  Demographics   •  Special  discounts   •  Shopping  habits   •  Limited-­‐.me  offers   •  Personality   •  News  events   •  Communica.on  styles   •  Compe..ve  ini.a.ves   •  Level  of  engagement  
  25. 25. Clarity  of  the  Value  Proposi+on  EXPERIMENT  
  26. 26. Experiment  #2:  Background      Experiment  ID:  NAS  Content  Approach     Loca+on:  Marke.ngExperiments  Research  Library   Test  Protocol  Number:  TP4068   Research  Notes:   Background:  Medical  provider  specializing  in  trea.ng  chronic  back  pain.  They   are  the  sole  providers  of  a  minimally  invasive,  innova.ve  pain  management     procedure.     Goal:  To  determine  which  presenta.on  of  the  content  focus  will  result  in  the   greatest  measurable  interest  (click-­‐through)     Primary  Research  Ques+on:  Which  presenta.on  will  achieve  a  higher   clickthrough  rate?     Approach:  A/B  Mul.factor  Split  Test    26  
  27. 27. Control   Bulging  Disc  Treatment   Read  about  our  30-­‐minute  treatment  Ad  Template   for  bulging  disc  back  pain  relief.   NorthAmericanSpine.com/Bulging_Disc   Herniated  Disc  Treatment   Herniated  Disc?  You  Have  Op.ons.   Ask  Our  Experts  About  AccuraScope™.   NorthAmericanSpine.com   Proven  Scia.ca  Treatment   Relieve  Scia.ca  Nerve  Pain  with   Our  Unrivaled  30-­‐Minute  Procedure.   NorthAmericanSpine.com/Scia.ca   Pinched  Nerve  Treatment   New  30-­‐Minute  Procedure,  Reclaim   Your  Life  From  Pinched  Nerve  Pain.   NorthAmericanSpine.com/PinchedNerve   Relief  From  Back  Pain   Read  about  our  30-­‐minute  treatment   for  total  freedom  from  back  pain!   NorthAmericanSpine.com   Degenera.ve  Disc  Disease   Relieve  Degenera.ve  Disc  Pain  w/   Our  Unrivaled  Revolu.onary  Program   NorthAmericanSpine.com/Degenera.ve  
  28. 28. Version  A   Bulging  Disc    Symptoms   Read  about  our  30-­‐minute  treatment   for  bulging  disc  back  pain  relief.   NorthAmericanSpine.com/Bulging_Disc  What  we  will  learn:   Herniated  Disc    Symptoms  •  The  effect  of  the  symptoms   Herniated  Disc?  You  Have  Op.ons.   Ask  Our  Experts  About  AccuraScope™.   content  approach  in  the     NorthAmericanSpine.com   headline  only   Scia.ca  Symptoms   Relieve  Scia.ca  Nerve  Pain  with   Our  Unrivaled  30-­‐Minute  Procedure.   NorthAmericanSpine.com/Scia.ca  What  has  changed   Pinched  Nerve  Symptoms  •  ‘Symptoms’  added  to  headline   New  30-­‐Minute  Procedure,  Reclaim   Your  Life  From  Pinched  Nerve  Pain.   with  the  specific  condi.on   NorthAmericanSpine.com/PinchedNerve   searched  for   Lumbar  Back  Pain  Symtpoms   Read  about  our  30-­‐minute  treatment   for  total  freedom  from  back  pain!   NorthAmericanSpine.com  
  29. 29. Bulging  Disc  Treatment   Read  about  Bulging  Disc  Symptoms  Version  B   and  see  how  our  experts  can  help!   NorthAmericanSpine.com/Bulging_Disc   Herniated  Disc  Treatment  What  we  will  learn:   Read  about  Herniated  Disc  Symptoms   and  see  how  our  experts  can  help!   NorthAmericanSpine.com  •  The  effect  of  the  symptoms  content   approach  in  the  descrip+on  only   Proven  Scia.ca  Treatment   Read  about  Pinched  Nerve  Symptoms   and  see  how  our  experts  can  help!   NorthAmericanSpine.com/Scia.ca  What  has  changed   Pinched  Nerve  Treatment   Read  about  Pinched  Nerve  Symptoms  •  Descrip.on  uses  the  symptoms   and  see  how  our  experts  can  help!   NorthAmericanSpine.com/PinchedNerve   content  approach  with  the  specific   Relief  From  Back  Pain   condi.on  searched  for   Read  about  Back  Pain  Symptoms   and  see  how  our  experts  can  help!   NorthAmericanSpine.com   Degenera.ve  Disc  Disease   Read  how  our  spine  experts  can  help   relieve  Degenera.ve  Disc  Symptoms!   NorthAmericanSpine.com/Degenera.ve  
  30. 30. Version  C   Bulging  Disc    Symptoms   Read  about  Bulging  Disc  Symptoms   and  see  how  our  experts  can  help!   NorthAmericanSpine.com/Bulging_Disc  What  we  will  learn:   Herniated  Disc    Symptoms  •  The  effect  of  the  symptoms   Read  about  Herniated  Disc  Symptoms   and  see  how  our  experts  can  help!   content  approach  in  both  the   NorthAmericanSpine.com   headline  +  descrip+on   Scia.ca  Symptoms   Read  about  Pinched  Nerve  Symptoms     and  see  how  our  experts  can  help!   NorthAmericanSpine.com/Scia.ca  What  has  changed   Pinched  Nerve  Symptoms  •  Both  headline  and  descrip.on  use   Read  about  Pinched  Nerve  Symptoms   and  see  how  our  experts  can  help!   symptoms  content  approach,  while   NorthAmericanSpine.com/PinchedNerve   staying  specific  to  the  condi.on   Lumbar  Back  Pain  Symptoms   searched  for     Read  about  Back  Pain  Symptoms   and  see  how  our  experts  can  help!   NorthAmericanSpine.com  
  31. 31. [Condi.on]  Symptoms   Experiment:  Results   Read  about  [Condi.on]  Symptoms   and  see  how  our  experts  can  help!   NorthAmericanSpine.com/[Condi.on]                40.3%  Increase  in  click  through    Version  C  generated  40.3%  more  click  throughs  than  the  Control   Version   CTR   Rel.  diff   Stat.  Conf   Control   0.28%   -­‐   -­‐   Version  A  (headline)   0.26%   -­‐7%   99%   Version  B  (descrip.on)   0.21%   -­‐25%   99%   Version  C  (headline  &  descrip.on)   0.39%   40.3%   99%   What  You  Need  to  Understand:  The  symptom  content  approach  has         the  greatest  clarity  when  it  is  used  in  both  the  headline  and   descrip+on  for  visitors  conduc.ng  condi.on-­‐based  searches    31  
  32. 32. What  we  discovered  32  
  33. 33. Value  Proposi.on  Ques.on   If  I  am  your  ideal  prospect,  why  should  I   buy  from  you  rather  than  your   compe4tors?  33  
  34. 34. The  Force  of  a  Value  Proposi.on     Key  Principles   1.  The  force  of  a  value  proposi.on  can  be  measured  by   four  essen.al  elements  of  the  offer:   •  Appeal  –  How  much  do  I  desire  this  offer?   •  Exclusivity  –  Where  else  can  I  get  this  offer?     •  Credibility  –  Can  I  trust  your  claims?   •  Clarity  –  What  are  you  actually  offering?  34  
  35. 35. Incen+ve  KEY  CONCEPTS  
  36. 36. Incen.ve   ABANDON   COMPLETION   Fric.on  Elements   Incen.ves  Ideal  Incen+ve:  Incen.ves  must  be  tested.  There  is  an  “ideal  incen.ve.”        Un.l  you  find  an  incen.ve  that  gives  you  a  major  ROI  increase,  you  must  assume  you  have  not  yet  found  the  ideal  incen.ve.  
  37. 37. Fric+on  KEY  CONCEPTS  
  38. 38. Fric.on     Key  Principles   Two  common  elements  that  create  Fric.on:   1.  Length   2.  Difficulty     Fric.on  is  also  generated  by  pages  and  processes   that  do  not  match  a  proper  thought  sequence.       Therefore,  the  message  must  be  specifically  cra^ed   to  synchronize  to  the  decision  paHerns  of  the   recipient  38    
  39. 39. Fric.on:  Example  1   Not  this…   …but  this  39  
  40. 40. Fric.on:  Example  1   Not  this…   …but  this   47%   IN  CONVERSION  40  
  41. 41. Fric.on:  Example  2   Not  this…   …but  this  41  
  42. 42. Fric.on:  Example  2   Not  this…   …but  this   93%   IN  CONVERSION  42  
  43. 43. Fric.on:  Example  3   …but  this   Not  this…  43  
  44. 44. Fric.on:  Example  3   …but  this   Not  this…   81%   IN  CONVERSION  44  
  45. 45. Anxiety  EXPERIMENT  
  46. 46. Experiment:  Anxiety    Experiment  ID:  New  York  Times   Loca+on:  Marke.ngExperiments  Research  Library   Research  Notes:   Background:  The  New  York  Times  came  to  us  with  a  subscrip.on   product  that  they  were  having  difficulty  marke.ng  called  the  “Electronic     Edi.on”     Goal:  To  increase  the  number  of  subscrip.ons  for  the  “Electronic   Edi.on”     Primary  research  ques+on:  Which  page  design  will  generate  the  most   subscrip.ons?     Approach:  A/B  split  test  (variable  cluster)  46  
  47. 47. Experiment:  Control   The  primary  cause  of  anxiety   for  this  page  is  that  this  is  a   paid  up-­‐front  service  which   prominently  displays  the   price  with  a  de-­‐emphasized   free  trial  offer.   Original  47  
  48. 48. Experiment:  Treatment   To  relieve  anxiety  we  changed  all   offers  to  the  lowest  risk  free  trial   offering  and  de-­‐emphasized  the   price  of  the  paid  subscrip.on.   Op.mized  48  
  49. 49. Experiment:  Results                541%  Increase  in  conversions    Treatment  1  generated  541.6%  more  conversions  than  the  Control   Original   Op.mized  49  
  50. 50. Anxiety       Key  Principles   1.  Anxiety  is  just  as  lethal  (and  growing)  to  conversion  as   fric.on.   2.  If  you  think  about  mi.ga.ng  anxiety  in  ra.onal  terms,  you   are  likely  to  fail  in  your  efforts.  Though  anxiety  o^en  is   s.mulated  by  a  legi.mate  concern,  its  degree/impact  is  o^en   dispropor.onate  to  the  measure  of  risk.     3.  Anxiety  is  also  localized  in  the  buy  process.  It  is  closely   associated  with  the  geography  of  the  page.  50  
  51. 51. Concepts  REVIEW  
  52. 52. The  MECLABS  Conversion  Index   C  =  4m  +  3v  +  2(i-­‐f)  -­‐  2a   ©   Wherein:   C  =  Probability  of  conversion   m  =  Mo.va.on  of  user   v  =  Clarity  of  the  value  proposi.on   i  =  Incen.ve  (addi.onal)  to  take  ac.on   f  =  Fric.on  elements  present   a  =  Anxiety  elements  present  52  
  53. 53. Methodology  Review  •  To  get  more    •  You  need  to  increase  perceived  value  •  And  decrease  perceived  cost   Perceived   Cost     Perceived     Value      
  54. 54. Session  Speaker   Jon  Powell   Marke+ng  and  Sales  Funnel  Op+miza+on   MECLABS     A  tes.ng  and  op.miza.on  veteran  with  hands-­‐on  experience   gained  through  managing  hundreds  of  A/B  and  mul.variate  tests   for  ecommerce,  healthcare,  financial,  and  educa.on  Research   Partners  and  clients.  Jon  studies  prospects,  products  and   processes  to  help  organiza.ons  strategically  write  themselves  in   the  stories  of  those  that  interact  with  them.      @JonPowell31   Recent  test  highlights:       331%  increase  healthcare  search  traffic  lead  conversion  rate   672%  increase  educa.on  program  site  applica.ons   129%  increase  educa.on  program  browsing  lead  conversions  
  55. 55. Offer  Response  Op+miza+on   Learn  how  to  replicate  a  331%  li2  in   your  own  inbound  marke9ng  efforts  

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