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The hidden power of micro conversions - Valentin Radu, Marketizator - Ecommday 2016

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In e-commerce, most websites focus on the big picture, and that is macro conversions, neglecting an important part of the pre macro converting process: micro-conversions. They are useful because you can easily engage visitors, build up an emailing list and address them in a personal way according to the profile they fit in. Nurture the leads and transform them into paying customers.

From this webinar you will learn:

● How to optimize each funnel step using qualitative and quantitative data;
● How to generate more micro-conversions;
● How to transform micro-conversions into macro-conversions;
● How small adjustments can lead to big results;
● How to re-engage visitors in the sales funnel.

Published in: Marketing
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The hidden power of micro conversions - Valentin Radu, Marketizator - Ecommday 2016

  1. 1. The hidden power of micro- conversions
  2. 2. 1. How your funnel actually looks 2. Choice reduction - why is it vital 3. Real case-studies
  3. 3. E-commerce conversion rate is 0,5% - 2%
  4. 4. Best case scenario, 1 out of 50 visitors are buying
  5. 5. How do we perceive it
  6. 6. How it actually is
  7. 7. The micro-conversions Get to the product page Subscribe to the newsletter Add products to the cart Finish the order Come back and buy again Tell everyone about your shop
  8. 8. CTR on search, category, product Subscription rate Add to cart rate Abandonment rate LTV, Retention rate Net Promoter Score
  9. 9. The most important micro-conversions For an eCommerce website Product view rate Add to cart rate Search rate Filter usage rate E-mail subscription rate Contact / About us page
  10. 10. WHAT CAN YOU REALLY DO TO IMPROVE YOUR MICRO- CONVERSIONS?
  11. 11. Buyer persona Qualitative research Remarketing Convert! Micro conversions Surveys Session recordings, etc A/B testing for each relevant segment / page Quantitative research (Analytics, segmentation, traffic analysis, etc) Personalization Wasted traffic Conversion research
  12. 12. 1. Proper Research
  13. 13. Nothing important has ever been discovered without proper exploration.
  14. 14. How would you call a doctor that treats your broken bone without an X- Ray?
  15. 15. Qualitative research Is one of the best X-rays you can do on your website
  16. 16. Before the visit Purchase intention Reasons to buy Barriers to buy During the visit Buyer persona Real needs Choice reduction Barriers to buy Motivations After the purchase Net Promoter Score Satisfaction level Customer Feedback When can you find out with surveys?
  17. 17. What can you find out very fast with the help of on site surveys > How many visitors are finding what they are looking for on your website? > Which are the most important barriers that are stopping visitors from buying? > What would convince them to complete the purchase?
  18. 18. Quantitative research Gain insights about the desired micro conversions
  19. 19. Visitors which are using the site search in e-commerce websites are 5 times more likely to convert, than those visitors who do not use the site search function.
  20. 20. Because We can In order to... Searchers are converting 5x better than non-searchers & the site search rate in 12% Do A/B testing in order to improve the search bar visibility & copy Increase to improve the internal search rate that will lead to a better conversion rate
  21. 21. 2. A/B Testing
  22. 22. 2. A/B testing Copy & re-design landing pages, product pages, category pages, cart pages
  23. 23. Elements to do A/B testing on the Homepage > Menu > Call 2 action > Position of the elements > Search bar > Existence/position/dimension of the slider > First line of products / offers > UVP
  24. 24. Elements to do A/B testing on the Category page > Product listing > Filters bar > Sorting bar > Search bar > Call 2 actions > Colours > UVP for each category > Price / discounts
  25. 25. Elements to do A/B testing on the Product page > Return policy > Image > Position of elements > Call 2 action > Colours > Reviews locations and copy > Price / discount > Copy
  26. 26. What to test on the Cart page > UVP > Testimonials or not > Return Policy > Menu or not > Back button or not > Images of the product > Guest buying option / not > Visual hierarchy
  27. 27. 3. Web personalization Become relevant, reduce choices and re-engage the visitors
  28. 28. Why is Choice Reduction CRUCIAL?
  29. 29. VS
  30. 30. Result: Consumers initially exposed to limited choices proved considerably more likely to purchase the product than consumers who had initially encountered a much larger set of options. 30% conversion rate 3% conversion rate
  31. 31. Source: Barry Schwartz Details: http://www.ted.com/talks/barry_schwartz_on_the_paradox_of_choice
  32. 32. Avon wanted to increase the performance of make-up category.
  33. 33. Step 1: Research Why this category is not performing so well?
  34. 34. After deep diving in Google Analytics + surveys with Marketizator...
  35. 35. We’ve found out that the main micro conversion for this category was the usage of the “eyes color” filter.
  36. 36. And that the visitors weren’t sure enough that the products will match their eye colours.
  37. 37. Step 2: Web Personalization So, they’ve added the help of an expert to get visitors down on the funnel
  38. 38. They have re-engaged the visitors on exit-intent to increase the number of respondents
  39. 39. They’ve stayed consistent on the cart page by showing their eyes colour.
  40. 40. Why are they saying you can't trust people with green eyes?
  41. 41. Engagement results +292% more page views +111% more page views +73% more page views
  42. 42. +43,60% Add to cart Rate 100% Statistical significance +98,2% Conversion Rate
  43. 43. On-Site Surveys + Web Analytics Anxiety over eye color + eye shadow color Bring in an expert & narrow down choice
  44. 44. Overall results: +20% more conversions
  45. 45. Next steps: > extend the project to other categories > do personalized remarketing based on this data
  46. 46. Samsung Poland wanted to introduce Samsung Galaxy S6 on their e-commerce website
  47. 47. So, they’ve placed an exit- intent overlayer instead of letting visitors fly away without noticing it.
  48. 48. +26% revenue Find more: https://www.marketizator.com/case-study-samsung
  49. 49. MVL had a high cart abandonment rate.
  50. 50. After the research, one of the main issues was that the new visitors were unsure about what wine to chose
  51. 51. So, they’ve placed an exit- intent overlayer instead of letting visitors fly away without buying
  52. 52. +60% AOV Find more here: http://bit.ly/1SjwHBa
  53. 53. The magic about conversion rate
  54. 54. +6% Monthly incremental increase in conversion rate = 90% More conversions in a year Without paying anything extra for traffic
  55. 55. + + +
  56. 56. Samsung. You know them :)
  57. 57. Livraria Cultura is one of the largest e- commerce websites in Brazil, a chain of bookstores founded in 1948
  58. 58. Avon, the world's largest direct seller in the beauty industry, with over $10 billion in annual revenue.
  59. 59. Deutsche Telekom is one of the world's leading integrated telecommunications companies, with some 143 million mobile customers
  60. 60. >9000 websites >3,5 BN visits / month
  61. 61. Thank You & Thank you! You have 2 more things in your to-do list:
  62. 62. Thank You & 1. Get the low hanging fruits you’ve found about in this presentation and the other ones from this conference.
  63. 63. Thank You & 2. Go to www.marketizator.com and use ECOMMDAY to get 6 months off for the 50k visitors plan (worth $900)

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