Digital-Campus Day2 Module15 Conversion LB

Conversion:
The permanent optimization

1
DIGITAL PASSPORT - DAY 2
Paris - April 4, 2013
Guillaume CABRERE, CEO, Digital University
Franois ROUSSEAU, Academic Consultant, Digital University
Digital Campus BNP PARIBAS Personal Finance 2
Agenda
1. Fundamentals of conversion
2. Key steps of the conversion path
3. How to optimize the conversion path
Agenda
Digital Campus BNP PARIBAS Personal Finance
A better conversion rate changes everything
The higher your Conversion Rate, the lower your Acquisition Cost
all things being equal
Acquisition Cost
=
CPC* / CR
Cost Per Click
Conversion
Rate
4
* if CPC is the main KPI
Example: +20% Conversion Rate => 2X Prots
5
Supposing that :
1. Your acquisition cost are !100 per 10,000 visitors
2. Your business R.O.I = 25% ( 100 ! spending generates 125 ! of revenue)
+20% +100%
1.2% !12,5
B
1,000 !150 !100 12 !50
1,000
1.0% !12,5
Unique visitors
A
CR
Revenue
/ order
!125
Total
revenue
!100
Acquisition
cost
10
# of orders
!25
Prot
Stop gambling. Start measuring.
3. Retention
1/3
of marketing expenditures
2. Conversion
?
Conversion: the weakest link of marketing spending
2/3
1. Acquisition
7
Source : Benchmark Group 2011
98% of e-commerce websites visitors
leave the site without buying
Homepages:
How come our Conversion Rate is so low?
What we know:
websites retain visitors only a few seconds
What we dont know:
who are the visitors
what do they think or feel
why most of them are leaving without buying
2% = desperate situation?
9
The real experts of
your home pages
are your visitors
And every interaction with the website are evidences...
... generating a lot of data
and allowing reliable statistics analysis
... allowing to highlight how to
optimize you website
11
A high trac
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A9/-, @B
You can change everything
Web pages should be your labs
3 key points that make your
web pages labs:
12
Stop gambling. Start measuring.
Dont try to guess what your visitors want
Measure what they really respond to
An optimized customer journey is key
to maximize conversions
14
http://www.youtube.com/watch?v=3Sk7cOqB9Dk
Agenda
Homepage or landing page?
Homepage Landing page
16
1. To whom are we talking to?
2. What do we want them to do?
3. Are we helping them?
Who is the audience of your landing page?
Prospects?
Clients?
Partners?
Future partners?
Journalists?
Bloggers?
Inuencers?
Competitors?
Job seekers?
Investors?
19
Split up your trafc sources
- by acquisition channel
- by keywords, banners, afliation...
and analyze homogeneous groups
Integrate variables impacting
behaviors of a same group: week-end,
special events (Christmas,
Halloween...)
20
Split up your audiences
Everyone is different: its still true online
Do unto others as you would have them do unto you.
Treat others the way they want to be treated.
The Platinium Rule
- Dr. Tony Alesandra
21
Which action do you want your visitors to do?
(Choose one)
A few examples:
SUBSCRIBE TO A
NEWSLETTER
DOWNLOAD
ADD TO CART
BUY
ASK AN
APPOINTMENT
REDEEM AN
OFFER
23
What do inuence visitors?
24
Exogenous factors
Strength of the brand
Level of distinction and
personalization of the website
Seasonality
Competition with physical
distribution networks
Etc.
Endogenous factors
Condence (vs. anxiety)
Clarity (vs. confusion)
Afnity (vs. alienation)
Building trust :
an example of a small visual that changes everything
Conversion rate : + 400%!
Option A Option B
25
Some website user experience best practices
USER EXPERIENCE
WEBSITE
FUNCTIONALITY
The set of key criteria dening the
usability of a platform
The set of specic
functionalities that contributes
to consumer conversion in our
industry
USER EXPERIENCE
WEBSITE
FUNCTIONALITY
Value
Navigation Presentation
Trust
Research Content
Pre-application
Application
Post-application
Research Content
Pre-application
Application
Post-application
USER EXPERIENCE
WEBSITE
FUNCTIONALITY
Value
Trust
Website user experience benchmark grid
VALUE NAVIGATION PRESENTATION TRUST
Landing page
Content
Functionnality
Category and
subcategory names
Content and function
classication
Hyperlink and control
clarity
Efcient task ow
Search results
Search interface
Site language
Graphics, icons, symbols
Text legibility
Text and layout formating
Space usage
Form eld and interactive
element placement
Interactive element
recognizability and behavior
Privacy and security
policy placement
Locations cues
User feedback
Reversing actions
Contextual help
Error recovery
Site performance
Website user experience best practices
VALUE
Is there evidence that
the user goals can be
easily completed?
Is the content relevant
to support the specied
goals available?
Are the functionalities
required available?
Website user experience and functionality
best practices
NAVIGATION
PRESENTATION
Website user experience best practices
TRUST
Does the site present
privacy and security
policies?
Is contextual help
available where
needed?
USER EXPERIENCE
Value
Trust
Research Content
Pre-application
Application
Post-application
WEBSITE
FUNCTIONALITY
Website functionalities benchmark grid
RESEARCH CONTENT PRE-APPLICATION APPLICATION POST-APPLICATION
Account details
Online services
Customization
Save and retrieve
Live help
Data elds
Funding options
Disclosures
Verication screens
Company and service
and advantages
Comparison chart
Selection tool
Interactive help
Branch locator,
Internet, phone...
Product details
Decision criteria
Application process
information
Existing customer prell
Comparison chart
Progress meter
Process automation
Cross-sell / Upsell
Conrmation page
Email conrmation
Email conrmation
Onboarding
Agenda
Choose the right protocol to match your goal
37
Usability & Website
exit surveys
Spot important points for the
consumer and identify rooms
for improvement
Declarative information
Observation of the consumer
journey
A/B Test
Split Test
Comparing the effectiveness
of two versions of a web page
in order to discover which has
better conversion rate
Potential optimization based
on fact-based evidences
Eye Tracking
Track hot / cold areas of key
pages of your website
Observation of the look and
eye directions / movements
Multivariate tests
They are similar to A/B
testing, but they test more
than two different versions at
the same time
Potential optimization based
on fact-based evidences
In vivo In vitro
Usability test:
8 interviews can provide 80% of the learnings
38
A live interview: the customer
has a mission to fulll
ex : buy a Nikon Reex Camera with an
external ash, + a 18-55mm zoom
Eyes tracking: spotting hot & cold areas
where do customers cast their eyes
39
Observation of the eyes directions / movements
when discovering a new web page
Conclusions help redene and optimize the
layout
Eye Tracking
A/B Testing: a denition
40
Page A vs page B, who shall win ?
Dene one objective
Ex : maximize the number of baskets
... and the winner is : the page thats got the signicantly
highest % of vistors who make a purchase
Send 50% of your live trafc on
page A, 50 % on page B
A few examples
Option A Option B
Conversion rate:
+33%
41
A few examples
Conversion rate: +25%
Option A Option B
42
A/B Testing : a step by step approach
Each visitor contributes to the test without knowing she is part of the
protocol
Therefore, A/B Testing provides insights based on real non-biased user
conversion paths
As such, A/B Testing is the most effective source of information to optimize
step by step conversion paths
43
The most frequent obstacles to A/B Testing
Methodological obstacles
The hardest part is establishing and
prioritizing the objectives
!Risks of mixing counterproductive
objectives amongst themselves
Technical obstacles
Control on the Web Analytics tools
(Google Analytics, AT Internet,
Omniture...)
Control on the webdesign
Bandwidth of the IT department
44
A new generation of A/B testing tools enables
marketer to A/B test often as they want
/ django-lean
45
A few examples of parameters to test
Titles
Links
Navigation
Text
Page layout
46
Call to Action
button
Visuals
5. Analyzing
the results
4. Launching
the A/B Test
3. Creating
the
variations
Implementation of an A/B Test
2. Conguring
the Web
Analytics tool
1. Establishing the
objectives
47
Mise en oeuvre dun A/B Test
48
http://www.youtube.com/watch?v=0S0IrbwpfzE
Beware: combining two variable can be hazardous
Ferrari are fast
Ferrari are fast
Volvo are safe
Volvo are safe
Image A
texte X
Image A
texte Y
Image B
texte X
Image B
texte Y
49
The solution: Multivariate Testing
50
V
A
R
I
A
T
I
O
N
2x2x2x2= 16 possible combinations
Three things to remember
2
One target, one message
1
Your website is a lab and your
visitors are the true experts
3
Optimizing goes through continuous
measuring
51
Questions?

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Conversion:

The permanent optimization

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