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Summary
Many companies are dissatisfied with conversion
rates, though there has been industry improvement in last 12 months. The more segmentation and testing, the better performance. Certain practices strongly correlate with higher conversion satisfaction. Lack of ownership is a major issue. Those with someone responsible for conversion rates are more likely to have experienced improved performance.
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Overview
Methodology Findings Types of conversion and measurement Tools and strategies Best practice Segmentation People and processes Questions
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Methodology
Online survey in July and August 2009 Over 700 respondents, including
384 client-side organisations 344 agency / supplier-side respondents
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| Course Title
Types of conversion
Sales Sign-ups / registrations 73% 70%
43% 39%
38% 19%
60% 54%
50% 44%
40%
35% 30%
20%
10%
0% Overall site conversion to sale Overall site conversion to response Lead conversion rate Basket conversion rate
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58%
50%
45%
40%
5% 0% Number of sales Number of key visits actions visits Sales leads Sales number Number of key Number of sales We don't of started actions (visit (visit measure baskets bounced) bounced) conversion rates
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Satisfied
23%
36%
Dissatisfied
31%
Very dissatisfied
| 9 | Conversion Report 2009 |
8%
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| Course Title
Customer journey analysis Copy optimisation Online surveys / customer feedback Cart abandonment analysis A/B testing Event-triggered / behavioural email User testing Segmentation Expert usability reviews / consultancy Multivariate testing Pinchpoint analysis
| 11 | Conversion Report 2009 |
48% 47% 42% 34% 32% 30% 30% 27% 23% 17% 5%
39% 38% 43% 24% 46% 35% 32% 34% 27% 39% 10%
How valuable do you find the following methods for improving conversion rates?
Proportion of respondents saying highly valuable
A/B testing Customer journey analysis Multivariate testing User testing Cart abandonment analysis Segmentation Event-triggered / behavioural email Online surveys / customer feedback Copy optimisation Pinchpoint analysis Expert usability reviews / consultancy
| 12 | Conversion Report 2009 |
53% 49% 48% 47% 46% 39% 35% 33% 32% 26% 25%
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Are your chosen technologies in the following areas a help or a hindrance in your attempts to improve conversion rates?
Proportion of companies saying positive impact
90% 80%
80%
70% 60%
60%
59%
56%
55% 48%
50% 40%
30%
44%
44%
43% 39%
20%
10%
0%
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Are your chosen technologies in the following areas a help or a hindrance in your attempts to improve conversion rates?
Proportion of companies saying negative impact
30%
25%
24%
23%
22%
20%
17%
15%
12%
10%
9%
8%
6% 5%
6%
6%
0%
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Best practice
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| Course Title
Identifying key performance indicators Compelling and effective calls to action Align keywords, calls to action and landing pages Integrate email and web analytics Benchmark competitors Funnel analysis Mine internal search data Journey analysis Integrate user testing and web analytics Remove bottlenecks and blockages to conversion Systematic testing of what we are doing Test multiple landing pages
38% 26% 23% 21% 21% 19% 15% 14% 14% 13% 12% 10%
56% 66% 58% 52% 55% 55% 56% 60% 53% 69% 60% 52%
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Reduce 'death by landing pages' i.e. keep landing pages to a minimum and instead link leads straight into the relevant sales journey or actionable journey e.g. to enable user to analyse their portfolio, assess their risk profile or use another type of tool.
Start measuring the journeys and funnels for key transactions, to understand the actual rather than perceived behaviour. Segmentation of our audience into usable and measurable profiles - work out who needs to see what and when. Serve relevant messages at the right time and conversion rates increase... what a surprise!
Track user data and behaviour on the website. Due to budget limitations, we have a hard time improving the methods to increase conversion rates.
70%
60%
50%
22%
20%
19%
10%
5%
0% Review web analytics data Review ecommerce / CMS data Internal data Testing by colleagues in the company Online surveys / customer feedback User testing Expert reviews
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Segmentation
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| Course Title
39%
36% 33% 28%
21% 20%
10% 8% 6% 13%
Uses of segmentation
60% 56% 50% 50%
40%
32% 30%
10%
0% Customer analysis Email personalisation Search marketing Website personalisation Offline follow-up (e.g. direct mail / call centres) Email dynamic content
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50% 45%
40%
30%
0% Items purchased Frequency of purchase Recency of purchase Value of purchase Customer lifetime value Profit
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50%
49% 47%
40%
40%
39%
38% 33%
30%
25%
20%
10%
0% Email opens / Links clicked clicks Campaigns arrived from Pages seen Channels arrived from Search terms used Responses clicked Banners seen
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48%
48% 43%
40%
30%
29%
20%
10%
0% Clicks from multiple campaigns Interaction between different media channels Interaction with various search terms Viewed multiple campaigns
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| Course Title
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Do you have anyone in your organisation who is directly responsible for improving conversion rates?
40%
20%
No
40%
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How much control do you feel your organisation has over conversion rates?
50% 46% 45%
30%
25%
20%
15%
13%
10% 5%
5%
0% No control Very little control Quite a lot of control A great deal of control
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47%
18%
18%
14% 12%
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Proof that the changes made do improve conversion rates so that they are open to doing more changes/ testing in the future.
The client being aware of the importance of conversion rates in terms of how it affects their bottom line otherwise it is not important to them if it does not make financial sense.
Creating more resource dedicated to improving conversion rates and owning the testing/measurement strategy around to keep things consistent.
Business awareness of what true conversion is & the difference between a 'micro' & a 'macro' conversion, i.e. unique visitors/add to cart is a 'micro conversion' & a truer reflection on site performance.
Having a clear strategy and integrated systems and processes that clients can control and update themselves, and employing or training someone to do so properly is absolutely key.
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Preference segmentation
Basic
Intermediate
Advanced
Time
Dissatisfied Neither Satisfied Q. How satisfied are you with your conversion rates?
Summary
Many companies are dissatisfied with conversion
rates, though there has been industry improvement in last 12 months. The more segmentation and testing, the better performance. Certain practices strongly correlate with higher conversion satisfaction. Lack of ownership is a major issue. Those with someone responsible for conversion rates are more likely to have experienced improved performance.
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Questions?
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Improving conversion by 10% can be a lot cheaper than spending 10% more with Google Lead Gen. SEO/PPC Affiliates Banner ads Soc. network Offline media
Google is very efficient here
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| Course Title
As they say in the army: its difficult to fulfill your mission if you are not clear about your objective.
58%
50%
45%
40%
5% 0% Number of sales Number of key visits actions visits Sales leads Sales number Number of key Number of sales We don't of started actions (visit (visit measure baskets bounced) bounced) conversion rates
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| Course Title
How valuable do you find the following methods for improving conversion rates?
Proportion of respondents saying highly valuable
A/B testing Customer journey analysis Note 3 of top 4 involve testing Multivariate testing User testing Cart abandonment analysis Segmentation Event-triggered / behavioural email Online surveys / customer feedback Copy optimisation Pinchpoint analysis Expert usability reviews / consultancy
| 44 | Conversion Report 2009 |
53% 49% 48% 47% 46% 39% 35% 33% 32% 26% 25%
Testing
One of the best investments you can make. Test the big things. Brainstorm and prioritise possible tests. Without properly constructed tests no
learning is reliable. Use a control where campaign value is high, otherwise use champion/challenger. Valid sample size - check confidence limits. Test one thing at a time and compare like with like. Order of importance: targeting/segmentation, offer, timing, creative
39% 35%
33% 31% 30% 22% 6%
Segmentation
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| Course Title
1,000 100
10 1
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| Course Title
If you have $1,000 to spend on an analytics solution, spend $100 on the tool and $900 on the people.
Avinash Kaushiks 90/10 rule
Test
Analyse
Improving conversion is like eating the proverbial elephant. You cannot do it in one go.
Companies lack of resources is cited in the report as the biggest barrier to improving conversion.
This report shows how to prioritise that lean resource to get the biggest bang for your buck. How to prioritise?...
How valuable do you find the following methods for improving conversion rates?
Proportion of respondents saying highly valuable
A/B testing Customer journey analysis Multivariate testing User testing Cart abandonment analysis Segmentation Event-triggered / behavioural email Online surveys / customer feedback Copy optimisation Pinchpoint analysis Expert usability reviews / consultancy
| 55 | Conversion Report 2009 |
53% 49% 48% 47% 46% 39% 35% 33% 32% 26% 25%
Preference segmentation
Basic
Intermediate
Advanced
Time
Dissatisfied Neither Satisfied Q. How satisfied are you with your conversion rates?
How to prioritise
High
Easy wins
Do these next
How valuable
Do these later
Dont do
Low
High
Timeline (Months)
12
18
24
30
36
Analytics
Months 1-12 Set online KPIs Set up database Report on trends and KPIs Identify pain points Make recommendations and monitor effectiveness of change
Months 12-24 Develop Online Behavioural Analysis Online Customer Segmentation Customer Surveys
Months 24-36 Segmentation Triggers Web Usability Content Value Analysis Benchmarking
Summary
Prioritise Simplify Test Segment Ownership Remove bottlenecks & blockages
Questions?
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