Ways to Increase Conversion · Ways to Increase Conversion Keep the navigation very simple on your...
Transcript of Ways to Increase Conversion · Ways to Increase Conversion Keep the navigation very simple on your...
Optimize Your Conversion RateOptimize Your Conversion RateOptimize Your Conversion RateOptimize Your Conversion RateBest practices Tetyana Franke, Business Unit Manager
Ways to Increase ConversionWays to Increase ConversionWays to Increase ConversionWays to Increase ConversionConversion Conversion Conversion Conversion raterateraterate is the ratio of visitors who convert casual content views or website visits into desired actions.
On-Site OptimizationOn-Site OptimizationOn-Site OptimizationOn-Site Optimization
Ways to Increase ConversionWays to Increase ConversionWays to Increase ConversionWays to Increase Conversion
� Keep the navigation very simple on your Keep the navigation very simple on your Keep the navigation very simple on your Keep the navigation very simple on your pagepagepagepage
The more options or confusing your page is, the worse your conversion rate will be. That ’s
why you see many sales pages with almost no navigation at all.
� Get Get Get Get the point as quickly as the point as quickly as the point as quickly as the point as quickly as possiblepossiblepossiblepossible
� Give proof for anything you Give proof for anything you Give proof for anything you Give proof for anything you saysaysaysay
Your visitors don’t believe you. Give them facts, samples, videos, and demos.
Show checks, charts, endorsements, etc. If you can’t back it up, they don’t believe it.
Ways to Increase ConversionWays to Increase ConversionWays to Increase ConversionWays to Increase Conversion
� Check Check Check Check your page load your page load your page load your page load speedspeedspeedspeed
On long sales copy sites, you may want to break up your tables with one table up top with
a page or so of your text, and the rest in a second table. The top table will load up first .
� Have a potential customer go through the site for you. Have a potential customer go through the site for you. Have a potential customer go through the site for you. Have a potential customer go through the site for you.
Is there any parts you’ve missed? How can you better explain it? Is there anything they
don’t understand?
� Have a second opinion from another Have a second opinion from another Have a second opinion from another Have a second opinion from another content writer.content writer.content writer.content writer.
It’s very easy to miss something on your own sites. That’s why you should always have another
content writer take a look.
Ways to Increase ConversionWays to Increase ConversionWays to Increase ConversionWays to Increase ConversionProduct PropositionProduct PropositionProduct PropositionProduct Proposition
� Offer Offer Offer Offer basic and deluxe options to your basic and deluxe options to your basic and deluxe options to your basic and deluxe options to your offersoffersoffersoffers
While this may or may not increase your conversion, it will increase your income per
visitor. Some will choose the basic. The ones who choose the deluxe boost your
profits.
� Use bullets whenever possible to describe your offer benefits.Use bullets whenever possible to describe your offer benefits.Use bullets whenever possible to describe your offer benefits.Use bullets whenever possible to describe your offer benefits. Very few people “read” online sales letters. They skim them so use bullets, sub-heads,
graphics, etc. to keep pulling them back in.
�Restate Restate Restate Restate the offer and guarantee on the order forms. the offer and guarantee on the order forms. the offer and guarantee on the order forms. the offer and guarantee on the order forms.
Shopping cart abandonment is always an issue. Do your best to curb this by making
the offer again on the order form.
Ways to Increase ConversionWays to Increase ConversionWays to Increase ConversionWays to Increase ConversionProduct PropositionProduct PropositionProduct PropositionProduct Proposition
� Offer cross- and upselling, outstanding guaranteesOffer cross- and upselling, outstanding guaranteesOffer cross- and upselling, outstanding guaranteesOffer cross- and upselling, outstanding guarantees
On average, 20% of cross-sell offers convert and a properly designed upsell will convert at
50% on average.
Many companies offer full money-back guarantees. You can offer double your money back
guarantees, keep all the bonuses guarantees, etc. Offer a guarantee that’s unusual!
� Use audio and video to demonstrate use of your Use audio and video to demonstrate use of your Use audio and video to demonstrate use of your Use audio and video to demonstrate use of your productproductproductproduct
This has to be tested, but well done video demos of the product will often improve
response.
� Test headlines, intro paragraphs, graphics, pricingTest headlines, intro paragraphs, graphics, pricingTest headlines, intro paragraphs, graphics, pricingTest headlines, intro paragraphs, graphics, pricing , etc.
Price and Rate ModelsPrice and Rate ModelsPrice and Rate ModelsPrice and Rate Models
ServicesServicesServicesServices
Dynamic prices: Dynamic prices: Dynamic prices: Dynamic prices: The price depends on supply and demand side.
� This pricing model can be used for additional services like support services.
� Dynamic means that the prices vary during a period depending on supply
capacity and demand on the consumer side.
� Prices can also be used to allocate service classes to different uses and recover
costs of providing services.
� Support service classes: A-customer, AA-customer and AAA-customer
Ways to Increase ConversionWays to Increase ConversionWays to Increase ConversionWays to Increase ConversionProduct PropositionProduct PropositionProduct PropositionProduct Proposition
Price discriminationPrice discriminationPrice discriminationPrice discrimination
� Price discrimination is aimed at different types of customers.
� An example is to offer students and educational institutions a discount.
� By selling goods to people and using „point-to-point“ technology, it is possible to
arrange multiple and even personalized prices.
� Personalization is an important concept in Electronic Markets
� Theoretically, it assumes the customer‘s willingness to pay and extract the full
value of his or her consumer surplus.
� Personalization technologies significantly increase the ability of sellers to
employ first degree price discrimination
� Methods include segmentation by geographical (IP address) or demographical
criteria (age, users of a certain hardware).
Ways to Increase ConversionWays to Increase ConversionWays to Increase ConversionWays to Increase ConversionProduct PropositionProduct PropositionProduct PropositionProduct Proposition
VersioningVersioningVersioningVersioning
� Versioning is an opportunity to create a new product line with very low costs.
� It is a part of vertical price discrimination
� Goal is to create qualitatively different versions of software.
� Various empirical investigations recommend to offer 3 instead of 2 versions, as
the average customer will most likely opt for the middle version.
Ways to Increase ConversionWays to Increase ConversionWays to Increase ConversionWays to Increase ConversionProduct PropositionProduct PropositionProduct PropositionProduct Proposition
Our experience on pricingOur experience on pricingOur experience on pricingOur experience on pricing
� The pricing structure of multimedia software and utilities shows clearly that the
representative price is USD 29.95 (for multimedia, standard solution) and USD
39.95 (for utilities).
� Different price groups can arise from the fact that there are different versions
available (pro, standard, suite).
� Multimedia software and utilities software is difficult to classify because there are
several versions and special price strategies.
� A lot of software companies prefer subscription billing to fit their customers‘ needs.
� Apart from this they offer suite-versions to combine products of product families.
Ways to Increase ConversionWays to Increase ConversionWays to Increase ConversionWays to Increase ConversionProduct PropositionProduct PropositionProduct PropositionProduct Proposition
Ways to Increase ConversionWays to Increase ConversionWays to Increase ConversionWays to Increase ConversionShop OptimizationShop OptimizationShop OptimizationShop Optimization
� Make Make Make Make the checkout process simple with as few clicks as possiblethe checkout process simple with as few clicks as possiblethe checkout process simple with as few clicks as possiblethe checkout process simple with as few clicks as possible
The more pages you add in between the sales page and checkout, the more
dangerous your sales process becomes.
�Collect opt-in email leads and Collect opt-in email leads and Collect opt-in email leads and Collect opt-in email leads and follow-upfollow-upfollow-upfollow-up
At least get their email address. Get their physical address and phone number
for even higher response.
�Keep the navigation very simple on your page. Keep the navigation very simple on your page. Keep the navigation very simple on your page. Keep the navigation very simple on your page.
�Offer different Offer different Offer different Offer different payment options payment options payment options payment options or or or or even a try before you buy offer even a try before you buy offer even a try before you buy offer even a try before you buy offer (30 (30 (30 (30
daysdaysdaysdays))))
�Display safe shopping logos Display safe shopping logos Display safe shopping logos Display safe shopping logos
�If your product is high ticket enough to pay for live supportlive supportlive supportlive support, run a live support
button on the website…and have your operators actively contact the visitors.
�Add more testimonials. Add more testimonials. Add more testimonials. Add more testimonials.
The closer those testimonials are to your target audience, the better they are.
Your visitors want to see testimonial from people just like them.
• be different! be different! be different! be different! • be relevant!be relevant!be relevant!be relevant!• be credible!be credible!be credible!be credible!
E-Mail Marketing:E-Mail Marketing:E-Mail Marketing:E-Mail Marketing:
Ways to Increase ConversionWays to Increase ConversionWays to Increase ConversionWays to Increase ConversionShop OptimizationShop OptimizationShop OptimizationShop Optimization
5% to 10%+ lift5% to 10%+ lift5% to 10%+ lift5% to 10%+ lift
Source: Forrester 2009/2010
Search is the most effective acquisition tactic, but email is Search is the most effective acquisition tactic, but email is Search is the most effective acquisition tactic, but email is Search is the most effective acquisition tactic, but email is most effective overallmost effective overallmost effective overallmost effective overall!!!!
Overview - Overview - Overview - Overview - Optimizing Your Conversion RateOff-Site OptimizationOff-Site OptimizationOff-Site OptimizationOff-Site Optimization
Source: Forrester 2009/2010
Email is the most successful tactic Email is the most successful tactic Email is the most successful tactic Email is the most successful tactic overalloveralloveralloverall!!!!
Overview - Overview - Overview - Overview - Optimizing Your Conversion RateOff-Site OptimizationOff-Site OptimizationOff-Site OptimizationOff-Site Optimization
Source: Forrester 2009/2010
Overview - Overview - Overview - Overview - Optimizing Your Conversion RateOff-Site OptimizationOff-Site OptimizationOff-Site OptimizationOff-Site Optimization
Source: Forrester 2009/2010
Email Segmentation tops the list!
Overview - Overview - Overview - Overview - Optimizing Your Conversion RateOff-Site OptimizationOff-Site OptimizationOff-Site OptimizationOff-Site Optimization
RecommendationRecommendationRecommendationRecommendation
Things to consider
� Consider alternative offering and marketing methods (for upgrades,
subscriptions) to raise customer retention
� Use volume licensing to reach new customers in appropriate market
segments
� Flexibilize offers to target new markets
� Offer various support service classes to address differing customer needs
� Use discounts and promotions to build reseller and affiliate channels for
your products
Optimizing Optimizing Optimizing Optimizing Your Conversion RateYour Conversion RateYour Conversion RateYour Conversion Rate
� Seasonal pricing drives revenue in high-demand periods
� Know your software´s worth in your channels to increase your conversion
rate effectively
� Raise AOV and your bottom line
� Optimize your business by combining your strategies
RecommendationRecommendationRecommendationRecommendation
Optimizing Optimizing Optimizing Optimizing Your Conversion RateYour Conversion RateYour Conversion RateYour Conversion Rate
Thank you!Thank you!Thank you!Thank you!
Your questions?Your questions?Your questions?Your questions?