The hidden power of micro-conversions - eCommday 2016
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The document discusses the importance of micro-conversions in e-commerce, highlighting how effective choice reduction can significantly impact conversion rates. It provides real case studies, such as Avon and Samsung, showcasing strategies like A/B testing and web personalization that have led to substantial increases in conversions. Recommendations include conducting visitor surveys and implementing exit-intent overlays to enhance engagement and reduce cart abandonment.
The hidden power of micro-conversions - eCommday 2016
- 1. The hidden power of micro-conversions
- 2. 1. How your funnel actually looks 2. Choice reduction - why is it vital 3. Real case-studies
- 6. E-commerce conversion rate is 0,5% - 2%
- 7. Best case scenario, 1 out of 50 visitors are buying
- 9. The objective Get to the product page Subscribe to the newsletter Add products to the cart Finish the order Come back and buy again tell everyone about us
- 10. CTR on search, category, product Subscription rate Add to cart rate Abandonment rate LTV, RPR, DBT Net Promoter Score
- 11. The most important micro-conversions Product view rate Add to cart rate Search rate Filter usage rate E-mail subscription rate Contact / About us page
- 12. WHAT CAN YOU REALLY DO TO IMPROVE YOUR MICRO- CONVERSIONS?
- 13. 1. Proper research Find how well perceived your products are through behaviour insights surveys
- 14. Surveys to run asap on your e-commerce website > How many visitors are finding what they are looking for on your website? > Which are the most important barriers that are stopping visitors from buying? > What would convince them to complete the purchase?
- 15. 2. A/B testing Copy & re-design landing pages, product pages, category pages, cart pages
- 16. 3. Web personalization Reduce choices and re-engage visitors with the power of on-exit intent overlayers
- 17. Why is Choice Reduction VITAL?
- 18. VS
- 19. Result: Consumers initially exposed to limited choices proved considerably more likely to purchase the product than consumers who had initially encountered a much larger set of options. 30% conversion rate 3% conversion rate
- 20. Source: Barry Schwartz Details: http://www.ted.com/talks/barry_schwartz_on_the_paradox_of_choice
- 22. Avon wanted to increase the performance of make- up category.
- 23. Step 1: Why this category is not performing so well?
- 24. After deep diving in Google Analytics + surveys with Omniconvert...
- 25. We’ve found out that the main micro conversion for this category was the usage of the “eyes color” filter.
- 26. And that the visitors weren’t sure enough that the products will match their eye colours.
- 27. Step 2: Web Personalization So, we’ve added the help of an expert to get visitors down on the funnel
- 30. We have re-engaged the visitors on exit-intent to increase the number of respondents
- 32. We’ve stayed consistent on the cart page by showing their eyes colour.
- 34. +9,600% Conversion rate 111 X more conversionsGreen eyes Brown eyes +25400% Conversion rate 292X more conversions Blue eyes +3100% Conversion rate 73X more conversions
- 35. Overall results: +20% more conversions
- 36. Next steps: > extend the project to other categories > do personalized remarketing based on this data
- 38. Samsung Poland wanted to introduce Samsung Galaxy S6 on their e-commerce website
- 39. So, they’ve placed an exit- intent overlayer instead of letting visitors fly away without noticing it.
- 41. +26% revenue Find more: https://www.marketizator.com/case-study-samsung
- 43. MVL had 80% cart abandonment rate.
- 44. So, they’ve placed an exit- intent overlayer instead of letting visitors fly away without buying
- 46. +60% AOV Find more here: http://bit.ly/1SjwHBa
- 47. The magic about conversion rate
- 48. +6% incremental increase in conversion rate = 72% more conversions in an year without paying anything extra for traffic
- 49. Samsung. You know them :)
- 50. Livraria Cultura is one of the largest e- commerce websites in Brazil, a chain of bookstores founded in 1948
- 51. Avon, the world's largest direct seller in the beauty industry, with over $10 billion in annual revenue.
- 52. Deutsche Telekom is one of the world's leading integrated telecommunications companies, with some 143 million mobile customers
- 53. >15.000 websites >4 BN visits / month
- 55. Thank You & let’s meet at Online Thank you! Pay us a visit at our booth in the Online marketplace area! (Guaranteed surprises for the next 10 visitors)