FastSpring Webinar: How Conversion Optimization Can Transform Your Digital Campaigns
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The document discusses the impact of conversion rate optimization (CRO) on digital marketing, highlighting methods such as A/B testing to improve web conversions and making data-driven decisions. Key strategies include enhancing user experience, leveraging emotional triggers, and utilizing social proof to increase user engagement and sales. Notable contributions come from insights by Sara Bottorff of Fastspring and Ali Nasser of Spiralyze, emphasizing successful case studies and proven methodologies.
FastSpring Webinar: How Conversion Optimization Can Transform Your Digital Campaigns
- 1. How Conversion Optimization Can Transform Your Digital Campaigns S A R A H B O T T O R F F / F A S T S P R I N G / V I C E P R E S I D E N T , M A R K E T I N G JUNE13/2019 A L I N A S S E R / S P I R A L Y Z E / C E O
- 2. Housekeeping Tips: • Audio will be provided via the webinar URL • You will not require an additional conference line • This webinar will be recorded and available to watch on demand following the live presentation To Ask a Questions: • Click on the floating Q&A toolbox on your screen
- 3. • Thousands of software companies • 200+ regions • 7+ million transactions powered by FastSpring every year B R O U G H T T O Y O U B Y FastSpring is the trusted full-service ecommerce partner for companies that sell software around the world. With FastSpring’s full-service ecommerce solution, you can sell more, compete big, and stay lean. Founded in 2005, FastSpring is a privately owned company headquartered in Santa Barbara with offices in Nebraska and Amsterdam.
- 4. As VP of Marketing at FastSpring, Sarah Bottorff is responsible for strengthening and optimizing FastSpring’s cross-channel marketing for domestic and international audiences. Bottorff has 20 years of marketing and communications experience from AppFolio, CJ Affiliate by Conversant, and Johnson & Johnson. V P , M A R K E T I N G A T F A S T S P R I N G Sarah Bottorff
- 5. Dr. Ali Nasser is a former McKinsey consultant, entrepreneur and CEO of Spiralyze, a leading conversion rate optimization firm, with global operations serving customers like GE Digital, Workday, NBAStores, Lowe’s, Pepsi and Maui Jim. He holds an MBA from the University of Michigan where he graduated with distinction, a Doctor of Chiropractic from CMCC in Toronto, and a degree in Biopsychology from the University of British Columbia. C E O , S P I R A L Y Z E Ali Nasser
- 6. SPIRALYZE
- 7. Conversion– anaction taken by a web visitor. 1. Extrastep in the buyer journey • Home Product page • Add to cart 2. Emailsign up • Offer sign up • Information (whitepaper, webinar etc.) UIXImprovements mayormaynotincreaseconversionsofvalue. What is conversion rate optimization?
- 8. UIX Improvements may ormay not increase conversions of value.
- 9. Generate Traffic Convert Traffic Continuousfeedback Google Social Affiliates Display Email A/B Testingand Conversion RateOptimization
- 10. What’s the size of the opportunity? ConversionRate Lift Achieved OnlineRevenue 1 YearImpact 3 YearImpact 10%$5M $500K $1.5M 5%$10M $500K $1.5M 5%$20M $1M $3M
- 11. A/B Testing Eliminates Ambiguity of Test Results 23% Conversion Rate 11% Conversion Rate Visitorsrandomlyassignedto twogroups 50%of visitorssee Variation A 50%of visitorssee VariationB VariationA VariationB We can see the true impact of the test bycomparing the difference between the “A” and “B”groups.
- 12. A rigorous A/B testing process is the best way to remove uncertainty. Seasonality, promotional cycles, etc. impact each side of an A/B test equally—this is how we see the actualimpact our insightsand designs have on your business. TrafficDriving Efforts REVENUE $5,000 $8,000 REVENUE +$3,000 A/B Testing 10,000VisitorsRandomlyAssigned toTwoGroups 5,000VisitorsSeethe CurrentPage (Control) 5,000VisitorsaSPZ VariationPage
- 13. Whether you drive 100 or 10K conversions, the two sides of an A/B test are identical. This is true if you get a traffic bump from a tweet or TV campaign, or just buy moretraffic. We can clearly compare the difference betweenthe two groups. Driving Additional Traffic Gets Us to an Answer More Quickly TrafficDriving Efforts CONVERSIONS 250 300 CONVERSIONS +50 10,000VisitorsRandomlyAssigned toTwoGroups 5,000VisitorsSeethe CurrentPage (Control) 5,000VisitorsaSPZ VariationPage
- 14. CRO Best Practices 1. Use an A/B test, establish a data-driven culture for decision making. 2. Start with a hypothesis – Know thy customer. 3. Make sure it’s measurable statistically– Sample size 4. Understand the ROI SetupyourfirsttestinGoogle Optimize. It’sfreeandfullyintegrated intoGoogle Analytics.
- 15. © Spiralyze LLC 2018 All Rights Reserved The Spiralyze Project Team Eachof our clientshas a dedicated team member thatspecializes in conversion-centric thinking. Conversion Strategist Project Manager Data Scientist Research UI/UX Design Copywriter Front End Developer Quality Assurance
- 16. Spiral Metrics We leverage >1 billion data points to evaluate optimization practices.
- 17. © Spiralyze LLC 2018 All Rights Reserved 250 350 (+100) Paid Advertising Costs Remain Flat Additional conversions from CRO donot add to advertising costs. Advertising Spend Number of Conversions Pre-test Win Post-test Win $100K $100K Additionalconversions,noadditionalcosts
- 21. Ali Nasser CEO of Spiralyze, Conversion Rate Optimization Firm Pay for performance model Book: Conversion RateOptimization: UsingNeuroscienceandDatatoBoostWeb Conversions Client work: GE Digital, Workday, Five9, NBAStores, Lowe’s, Pepsi and Maui Jim. Former McKinsey consultant Education: MBA,Biopsychology/Neuroscience CRO – How to Start Testing
- 22. Existing Analytics 30 Hours CustomerInterviews 15 Hours PreviousData 15 Hours UserSessions 35 Hours Ground-floor Interviews 25 Hours Eye Tracking &Advanced UserStudies 40 Hours Surveys 40 Hours Research Using a mix of proprietary data and a suite of research tools, Spiralyze generates insights that drive conversions.
- 25. Ali Nasser CEO of Spiralyze, Conversion Rate Optimization Firm Pay for performance model Book: Conversion RateOptimization: UsingNeuroscienceandDatatoBoostWeb Conversions Client work: GE Digital, Workday, Five9, NBAStores, Lowe’s, Pepsi and Maui Jim. Former McKinsey consultant Education: MBA,Biopsychology/Neuroscience CRO – How to Start Testing
- 26. Scarcity canalso be part of this experience.
- 29. • Limited time offer – test 3 months, 6 months, etc. • Limit the feature set, test different features and offers • Limit the licenses, seats or referrals. • Limit the utilization level • Combinations Testing Offers and Scarcity Free Trial Example
- 32. Leveraging emotion centers in the buying process
- 33. What emotions are you triggering?
- 34. Use it in moderation.
- 35. Consider how to mitigate this risk averse behavior.
- 36. Research showed thatwhen study participants were asked to think of themselves as traders, their loss aversion was reduced. Priming – Subliminal Explicitly Reframe the Offer
- 39. William Von Hippel TheSocial Leap:TheNewEvolutionary ScienceofWhoWeAre,WhereWeComeFrom,andWhat MakesUsHappy Freakonomics Podcast TheInvisible PawEpisode 329 Yuval Noah Harari Sapiens –ABriefHistoryofHumankind
- 40. Spiralyze Pay for performance full service agency Complimentary audit (min conversion volume/value req) contact@spiralyze.com
- 42. Ready to get started?
- 44. CRO F A S T S P R I N G | M A Y 2 9 , 2 0 1 9
- 45. Test: Sign Up Page Test: Pricing Page Test: Home Page CRO
- 46. Test #1: Sign Up Page
- 47. • Reducing the perceived length of the form would increase completion. • Prospects are getting distracted by allthe escapes on the page (top nav, content, footer). • Boosting socialproof would increase form completion. Sign Up Page Hypothesis
- 48. 4 8 Sign Up Page Step 1 VariationControl Source: https://invis.io/D4OJ2NLEYZA
- 50. Source: https://optimize.google.com/optimize/home/?authuser=1#/accounts/3344377896/containers/9960019/experiments/15/report TheTestisSignificant at98% Result - Sign Up Page (Goal 9) Visitors Rate Conversions 5,356Control 13.70% 734 5,724Variation 15.11% 865 (+10%)
- 51. Source: https://optimize.google.com/optimize/home/?authuser=1#/accounts/3344377896/containers/9960019/experiments/15/report Test - Sign Up Page (Goal 10) TheTestisSignificant at92% Visitors Rate Conversions 5,356Control 7.58% 406 5,724Variation 8.32% 476 (+10%)
- 52. Test #2: Pricing Page
- 53. • Prospects expected a pricing page, seeing plans was confusing. • Prospects are more willing to fill a form to get pricing than they are to get a free create an account. Pricing Page Hypothesis
- 55. Source https://optimize.google.com/optimize/home/?authuser=3#/accounts/3344377896/containers/9960019/experiments/92/report Pricing Page TheTestisSignificant at88% Visitors Rate Conversions 1,385Control 5.13% 71 1,396Variation 6.16% 86 (+20%)
- 56. Test #3: Home Page
- 57. • Updating look and feel would increase conversions. • Prospects are more interested in a productivity benefit than vague marketing speak. • Increasing socialproof would lead to more trust and conversions. Home Page Hypothesis
- 59. Source https://optimize.google.com/optimize/home/?authuser=1#/accounts/3344377896/containers/9960019/experiments/53/report Home Page TheTestisSignificant at72% Visitors Rate Conversions 10,757Control 1.25% 134 10,870Variation 1.13% 123 (-9%)