How to improve your website conversion

Linus Gregoriadis, Research Director Econsultancy

Mark Patron, CEO RedEye

2

Agenda

• Econsultancy/RedEye Conversion Rate Optimization

Report 2014 and survey

• What improves conversion

• Maturity model

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

Gaming & Gambling

Automotive

Manufacturing

Healthcare & Pharmaceuticals

Consumer Goods

Professional Services

Charities, Government & Non Profit

Travel & Leisure

Other (please specify)

Financial Services

Technology, Media & Telecoms (TMT)

Retail

0% 5% 10% 15% 20% 25%

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

Satisfaction with conversion rates consistently low

0%10%20%30%40%

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%

2010 2011 2012 2013 2014

6

Agenda

• Econsultancy/RedEye Conversion Rate Optimization

Report 2014 and survey

• What improves conversion

• Maturity model

7

Methods used for improving conversion rates

Up from 32% 5 years ago

OtherExpert usability reviewsWebsite personalization

Multivariate testingEvent-triggered / behavioural email

Usability testingCart abandonment analysis

Abandonment emailSegmentation

Competitor benchmarkingOnline surveys / customer feedback

Copy optimizationCustomer journey analysis

A/B testing

0% 10% 20% 30% 40% 50% 60% 70% 80%

3%21%

25%30%

33%34%35%35%36%37%

50%54%

58%67%

See next slide

8

Methods companies plan to use

Expert usability reviewsCart abandonment analysis

Abandonment emailCompetitor benchmarking

Multivariate testingUsability testing

Website personalizationSegmentation

Online surveys / customer feedbackEvent-triggered / behavioural email

Copy optimizationCustomer journey analysis

A/B testing

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

35%

47%

47%

47%

52%

54%

56%

56%

57%

58%

64%

67%

78%

9

Barriers preventing improving conversion?

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

0% 10% 20% 30% 40% 50% 60%

4%

8%

11%

23%

25%

25%

25%

27%

28%

32%

57%

10

Value and difficulty of different methods

Top 3 risers comparedto other methods

11

Testing

Companies who have a large increase in sales runthree 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 1.63Decrease 2.42

12

Specifically for your website, what do you test?

Security fields

Product selection process

Checkout process

Promotions and offers

Images

Navigation

Copy

Page layout

Call to action buttons

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%11%

28%

44%

50%

50%

56%

67%

74%

80%

2010 2011 2012 2013 2014

13

How important to a successful testing strategy?

Defining testing goals and objec-

tives

Prioritising what to test

Producing a test plan

Incorporating expert analysis

Choosing a software

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

85%72%

55%

23% 22%

13%27%

40%

55% 62%

2% 1% 4%

22% 16%

Very important Quite important Not important

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 yourcustomers through yoursite rather than push them,inbound rather thanoutbound marketing

15

Importance of a structured approach

Significant increase in sales

Small increase in sales

No change in sales Decrease in sales0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

44%33%

18% 11%

56%67%

82% 89%

Structured approach No structured approach

16

Perceived control over conversion rates

Significant increase in sales

Small increase in sales No change in sales Decrease in sales0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

17% 15% 11% 14%

59%52%

32%34%

24%32%

52%52%

1% 5%

A great deal of control Quite a lot of control Very little control No control

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

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

Significant increase

Small increase No change Decrease0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

39.3%29.4%

12.5%23.8%

29.6%40.5%

37.5%

33.3%

31.1% 30.1%

50.0%42.9%

3 1 or 2 0

19

Agenda

• Econsultancy/RedEye Conversion Rate Optimization

Report 2014 and survey

• What improves conversion

• Maturity model

20

Conversion Maturity Model

Little control of conversion

½ FTE personresponsible

for conversion

Starting to testlanding pages

Not using astructuredapproach

1 person

responsiblefor conversion

Testing landingpages

Starting websitetesting

Structuredapproach

to improvingconversion

2 peopleresponsible

for conversion

Usingsegmentation

or personalisation

Doing 2 A/Btests/month

£

Time Starting Out Intermediate Strategic

Increasing number of complementary methods used, tests and segmentation

≥

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