The Conversion Optimization Report

The Conversion Optimization Report
How to convert browsers into buyers
By Anthony OConnell - tony@one.ie
The Conversion Optimization Report : How to Transform Browsers into Buyers
Anthony OConnell
network one www.one.ie
Contents
Introduction
Conversion Rates by Retailer Segment Conversion rates vary depending on if the visitor is new or returning Conversion rates vary by traffic source Social shoppers convert less than search engine shoppers... Top 10 Online Retailers By Conversion Rate Conversion Rate Optimization Key findings
5
6 7 7 7 8 9 9
Analytics
Key Performance Indicators Some KPIs to consider KPIs can be analyzed from a number of perspectives including
10
10 10 11 12 13 14 14 15 17 17 18 22
Test
How Valuable Do You Find the Following Methods of Increasing Conversion? A/B versus Multivariate Testing (MVT) What to Test Specifically for your website what do you test? Key Pages and Funnels Tested Key Pages And Funnels Tested Benchmarks For Internet Retailers Retail Industry
12
Leave a scent
Example Take Action
18 23
Call Your Visitors to Action
Page 2
Learn how to escalate conversion rates at www.one.ie
Anthony OConnell
Key Findings Verbs beat adverbs, adjectives, and nouns in terms of their potential to attract Twitter shares! Buttons labeled submit have low conversion rates Case Study Case Study Case Study Take Action
Create Outstanding Headlines
Key Findings Page elements most consistently having a very significant impact on landing page optimization Case Study Case Study
28
28 28 29 30 31 33 38 40 40 41 42 44 45 46 46
23 23 24 25 26 26 27
Focus on One Goal

Case Study
31 33 38 40
Optimize Images Create Urgency

Case Study
Direct the gaze of pictures of people where you want them to look.
Earn Trust
Key Findings Top consumer e-commerce fears you need to address Case Study Case Study Case Study Take Action
Provide Customer Reviews

Key Findings Take Action
46
Page 3
Anthony OConnell
Streamline The Checkout Process
Key Findings Top Reasons For Abandoning Shopping Carts Case Study Take Action
47
47 48 49 51 52 53 54 55 55 56 57 58 58 59 59 60 61 62
Keep Shopping Carts Alive

Key Findings Case Study Take Action Key Findings Case Study Case Study Take action Key Findings Take Action
52
Provide Outstanding Customer Service
55
Provide Promotions Remarket
58 59
Key Findings Response rates for remarketing programs Case Study Case Study Take Action
Page 4
Anthony OConnell
Introduction
I know that half of my advertising dollars are wasted I just dont know which half. John Wanamaker (1838 1922). 100 years later its possible to track which advertising results in a sale and its a lot less than 50%. 2% - The average conversion rate whether you are selling elephants or iPods, says Avinash Kaushik, Analytics Evangelist at Google This report provides knowledge and tactics to escalate conversion rates. The conversion rate is the percentage of visitors to a website who complete a desired action. In most cases its the ratio of browsers to buyers, however a successful conversion may refer to newsletter subscriptions, social media connection or any other activity that occurs due to a subtle or direct request for the visitor to take action. Conversion rates vary widely depending on industry, the value of the product or service for sale, source of traffic to the website, and whether a visitor is new or returning. E-commerce websites report an average conversion rate of 2.2%, according to shop.org. Conversion rates across online retail range from 1% for the bottom 30% of ecommerce sites (based on overall performance) to 6% for the top 20%, according to the report Retail Ecommerce Search Accuracy, Relevancy and Profitability in the Age of Consumer Choice, published by Aberdeen Group in 2011.
Page 5
Anthony OConnell
Conversion Rates by Retailer Segment
7.0%
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
Electronics 1.6% 1.2%
Health & Beauty 6.4% 5.3%
Pets 5.4% 4.7%
Mass Merchants 4.0% 3.4%
Sporting Goods 3.6% 3.4%
Department Stores 3.3% 3.3%
Apparel 5.2% 5.4%
2010 2011
Home Improveme nt 1.0% 1.1%
Office Supplies 5.4% 7.0%
Source: Compete.com
Page 6
Anthony OConnell
Conversion rates vary depending on if the visitor is new or returning

Business Metrics Conversion Rate: Global Conversion Rate: First Time Visitors Conversion Rate: Repeat Visitors
Source: Fireclick Index
August 2012 2.40% 3.40% 1.70%
Conversion rates vary by traffic source

Source of visitor Conversion Rate: Keywords Conversion Rate: Emails Conversion Rate: Affiliates
Source: Fireclick Index
August 2012 2.20% 1.00% 6.40%
Social shoppers convert less than search engine shoppers...

Views at least one product page Bounces from first page Adds item to cart Converts
Source: Monetate Q1 2012
Facebook 73.19% 45.67% 3.08% 0.49%
Google 56.30% 25.69% 7.22% 2.44%
Page 7
Anthony OConnell
Top 10 Online Retailers By Conversion Rate
Schwans 25.3%
40.6%
Woman Within 20.4%
Blair.com 17.7%
1800 petmeds.com
vitacost.com
16.4%
QVC
16.0%
ProFlowers
15.8%
Office Depot
15.4%
Oriental Trading Company
14.9%
Roamans 0.0% 5.0% 10.0%
14.4% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0%
Conversion Rate
Source Neilsen Company 2010
Page 8
Anthony OConnell
Conversion Rate Optimization

Conversion Rate Optimization (CRO) is the method of creating an experience for a website or landing page visitor with the goal of increasing the percentage of visitors that convert into customers. CRO has evolved from Landing Page Optimization (LPO), which focuses on individual pages, whereas CRO focuses on the whole website.
Key findings
ROI of LPO is ubiquitously positive, but a challenge to calculate.
B2B Positive ROI B2C Negitive or No ROI ROI not calculated Don't know Both B2B2C 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
B2B B2C Both B2B2C
Positive ROI 33% 51% 57%
Negative or No ROI 3% 0% 2%
ROI not calculated 45% 35% 23%
Dont know 20% 13% 17%
Source Marketing Sherpa Landing Page Optimization Benchmark Survey 2011 Page 9 Learn how to escalate conversion rates at www.one.ie
Anthony OConnell
Analytics
You cannot manage what you cannot measure. (Peter Druker) What you do not measure, you cannot control. (Tom Peters)
Key Performance Indicators

The first step in improving your website conversion rate is to define the results that are important to successfully achieving your business goals. Key Performance Indicators (KPIs) help businesses understand whether it is on track or not.
Some KPIs to consider

Revenue Customer acquisition cost marketing spend / number of new customers Orders number of sales Average order value revenue / orders Revenue per visit revenue / number of visits Sales conversion rate visitors / orders Leads the number of inquiries by email, telephone, live chat etc. Cost per lead marketing spend / number of leads Engagement rate percentage of visitors who look at a product Total carts the number of people who add a product to a cart Abandoned carts the number of people who add a product to a cart and leave without buying Abandonment rate the percentage of shopping carts that are abandoned Registration the number of users that create accounts on your website Cost per registered user marketing spend / number of new accounts Newsletter subscription rate visitors / number of people who subscribe to your newsletter
Page 10
Anthony OConnell
Social sharing rate page views / number of times the page is shared (e.g. on Facebook, Twitter, Google +, Pinterest etc.) Comments the number of comments on a blog post or web page Bounce rate the percentage of visitors who leave your website after looking at one page only Exit rates the percentage of visitors who leave your website from a specific page
KPIs can be analyzed from a number of perspectives including

Source where the visitors came from e.g. which source of traffic search engine, pay per click, advertising or email resulted in the highest registration rate Keyword what keyword was searched for e.g. which organic and paid keywords result in the highest average order value Campaign what marketing campaign was used to attract visitors e.g. which campaigns had the lowest customer acquisition costs Ad what advertisements were used to source visitors e.g. which pay per click ads had the highest bounce rates New versus returning what visitors already visited your website e.g. did new or returning visitors have the highest sales conversion rates Pages the pages on your website e.g. which pages had the highest exit rates
Page 11
Anthony OConnell
Test
A/B testing and multivariate testing were the highest ranked method for improving conversion rates according to Econsultancy
How Valuable Do You Find the Following Methods of Increasing Conversion?
A/B Testing Multivariate Testing Customer Journey Analysis Usability Testing Segmentation Highly Valuable Cart Abandonment Analysis Online Surveys/ Customer Feedback Copy Optimisation Event-triggered behavioural email Expert usability reviews Competitor Benchmarking 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Quite Valuable Not Valuable
Page 12
Anthony OConnell
A/B Testing Multivariate Testing Customer Journey Analysis Usability Testing Segmentation Cart Abandonment Analysis Online Surveys/ Customer Feedback Copy Optimization Event-triggered behavioral email Expert usability reviews Competitor Benchmarking
Highly Valuable 52% 51% 49% 46% 42% 40% 36% 32% 31% 29% 22%
Quite Valuable 45% 45% 47% 51% 52% 56% 55% 61% 63% 62% 66%
Not Valuable 3% 4% 4% 3% 6% 4% 9% 7% 6% 9% 12%
Source: The 2011 Econsultancy Conversion Rate Optimization Report
Testing B2B lead generation forms increased conversion rates by an average of 40%. Ecommerce page tests increased conversion by 20-25% according to Hubspot
A/B versus Multivariate Testing (MVT)

A/B testing, also known as split testing is when you test one element against another (e.g. test 2 headlines, 2 pages etc.). With multivariate testing you test several elements against each other simultaneously (e.g. test combinations of different headlines and call to actions).
Page 13
Anthony OConnell
What to Test
Be careful what you choose test otherwise you will waste time and money.
Specifically for your website what do you test?

80% 60% 40% 20% 0% Call to action Page layout buttons Navigation Copy 2011 Checkout process Images 2010 Security fields 2010 2011 Promotions and offers
Product selection process
Call to action buttons Page layout Navigation Copy Promotions and offers Checkout process Images Product selection process Security fields
2010 68% 65% 61% 65% 50% 48% 42% 26% 9%
2011 72% 71% 65% 63% 49% 49% 43% 34% 13%
Source: Redeye Econsultancy Conversion Rate Optimization Report 2011
Page 14
Anthony OConnell
Key Pages and Funnels Tested
Home Page Other funnels Free download, webinar, or other items requiring a form RFP or other lead gen process Product, solution or other offer page Shopping cart or subscription process Free account setup (no payment involved) Payment page Cagegory, listing or similar page Other pages Thank-you page Contact us, about us or similar page Shipping information page 0% 10% 20% 30% 45% 44% 40% 37% 36% 35% 40% 50% 60% 55% 54% 54% 52% 50%
61% 60%
70%
Source Marketing Sherpa Landing Page Optimization Benchmark Survey 2011
Page 15
Anthony OConnell
Key Pages And Funnels Tested
Home Page Free download, webinar, or other items requiring a form submission Product, solution or other offer page RFP or other lead gen process Shopping cart or subscription process Free account setup (no payment involved) Payment page Category, listing or similar page Thank-you page Contact us, about us or similar page Shipping information page Other funnels Other pages
61% 55% 54% 54% 52% 50% 45% 44% 37% 36% 35% 60% 40%
Page 16
Anthony OConnell
Benchmarks For Internet Retailers

Retail Industry
Overall Conversion Rate Overall Cart Abandonment Rate Checkout Abandonment Rate Average Order Size Revenue Per Visit Visits to Carts 1-and-out - % of all visits* Home page 1-and-out - % of all visits Pages Per Visit % of Sites with Reviews
Source: The MarketLive Performance Index, Q2 2012
2.10% 67.90% 22.52% $137.18 $2.31 6.04% 37.06% 8.57% 10.31 43%
1-and-out rate is the percentage of visits ending after just one page, also know as bounce rate
Page 17
Anthony OConnell
Leave a scent
People navigate the web by scent. Bryan Eisenberg author of the bestselling book Call to Action: Secret Formulas to Improve Online Results, says scent was first described by Xerox Parc to outline the parallels between humans information-gathering techniques on the web and animals food-gathering techniques in the wild. He says, people seek information through the scent given off by their trigger words. According to research performed by usability guru Jared Spool, when visitors found the trigger word on the landing page, they were successful at completing their task 72% of the time; if the trigger word wasnt on the page, they were only successful 6% of the time. The scent of the key words kept them on the right path; lacking that scent, they stopped searching that particular trail.
Example
A customer searches for milo baughman chairs on Google
Page 18
Anthony OConnell
She clicks on the ad and goes to the landing page (a category listing page) on the website
Page 19
Anthony OConnell
She views a product
Adds the product to the cart
Page 20
Anthony OConnell
And places an order. All along the way the keywords she searched for are displayed, showing her that shes on the correct path.
Page 21
Anthony OConnell
Take Action
Use keywords in headings and product descriptions (this will also increase results for search engine optimization and lower costs for pay per click advertising. Use breadcrumbs Use recently viewed items Show clearly which products have been added to the shopping cart Show clearly which products your customers are going to buy on the payment page. Use trigger words to lay a scent from your advertisements all the way to the sale.
Page 22
Anthony OConnell
Call Your Visitors to Action

If you dont ask your visitors to do something, they probably are not going to do it. Call your visitors to action with meaningful and concise instructions by combining an imperative verb and an implied benefit.
Key Findings
Calls to action were the highest reported type of test in the RedEye Econsultancy Conversion Rate Optimization Report 2011.
Verbs beat adverbs, adjectives, and nouns in terms of their potential to attract Twitter shares!
Adverb
Verb Noun Adjective Adverb
2.0% 0.2% -1.8% -2.8%
Ajective
Noun
Verb
-4.0%
-3.0%
-2.0%
-1.0%
0.0%
1.0%
2.0%
3.0%
Difference in shares from average
Source: Science of Social Media Research by Dan Zarrella
Page 23
Anthony OConnell
Buttons labeled submit have low conversion rates
Submit Without Submit

18% 16% 14% 12% 10% 8% 6% 4% 2% 0% Submit Without Submit
14% 17%
Hubspot Science of Lead Generation 2010
An effective call-to-action should provide you with an opportunity to go beyond the transactional act of clicking on an offer, and create a relationship with a prospect. Its just the beginning of someones journey with your brand. (Hubspot)
Page 24
Anthony OConnell
Case Study
Firefox conducted an A/B test for 2 different download buttons on over 300,000 visitors and nearly 30,000 clicks. The Original: Try Firefox 9.73% conversion rate
The Winner: Download Now - Free 10.07% conversion rate (increase of 3.44%)
Page 25
Anthony OConnell
Case Study
37signals conducted multivarate tests for different call to actions on sign-up buttons on their home page. They tried different permutations such as Free Trial and Sign-up for Free Trial. but the phrase See Plans and Pricing resulted in a 200% increase in subscribers Jason Fried, founder of 37signals believes its because people are afraid if they click a link that says Free Trial then theyll somehow automatically sign-up for something and be trapped. However, See Plans and Pricing encouraged them to explore, without the fear of commitment.
Case Study
Carelogger, increased their conversions by 34% with a red button instead of a green one.
Page 26
Anthony OConnell
Take Action
Use verbs to stimulate action Use clear commands to tell your audience exactly what to do Tell your audience exactly what they will get if they complete the desired action Use powerful, contrasting colors Use whitespace effectively Convey a sense of urgency Overcome perceived barriers. e.g. if your product is free tell them it is free.
Page 27
Anthony OConnell
Create Outstanding Headlines

Headlines have a significant impact on conversion rate optimization. In most cases the headline will determine if the viewer will read your content or exit your page.
Key Findings
Page elements most consistently having a very significant impact on landing page optimization
45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Headline copy Content of images Body copy Form layout Headline copy 41% 40% 33% Content of images 42% 36% 43% Body copy 41% 41% 33% Form layout 44% 34% 38%
Direct lead gen Content for lead Ecommerce
Page 28
Anthony OConnell
The most engaging press release headlines are between 90 and 150 characters. Dan Zarella, The Science of PR
Case Study
37 Signals used Google Website Optimizer to randomly rotate five different headline and subhead combinations on the sign-up page. The original: Worst performer
The winner: 30% higher conversion rate
Page 29
Anthony OConnell
Case Study
Carelogger tested 2 different headlines, one which highlighted the benefits. The original: Worst performer
The winner: 31% higher conversion rate
Page 30
Anthony OConnell
Focus on One Goal

Multiple call to actions dont just make it difficult to track the return on investment of your conversion optimization efforts but they confuse website visitors. If the next step to take isnt clear a visitor is likely to exit your web page.
Case Study
Corkscrew Wine Merchants focused their headline and image on one item, a discount. The original: 12.5% conversion rate
Page 31
Anthony OConnell
The winner: 31% conversion rate (increase of 148%)
Page 32
Anthony OConnell
Optimize Images
Images play a vital role in the percentage of visitors who convert to customers. 83 % of eBay shoppers skip listings without images, listings with galleries get 15% more activity and listings with super-size photos generate a 24 percent spike in sales eBay.
Direct the gaze of pictures of people where you want them to look.
Page 33
Anthony OConnell
Page 34
Anthony OConnell
Page 35
Anthony OConnell
Page 36
Anthony OConnell
Page 37
Anthony OConnell
Create Urgency
Urgency results in significantly higher conversion rates.
Case Study
Canada Dream tested 2 different booking forms. The original: Worst performer
Page 38
Anthony OConnell
The winner: Increased conversion rates by 106%
Page 39
Anthony OConnell
Earn Trust
If customers dont trust you they wont do business with you.
Key Findings
Top consumer e-commerce fears you need to address
Fear of credit card information being stolen Its not a real store Youll sell my information I cant tell what the product is really like Not being able to track orders Not being able to get help
Source Richard Johnson, Why Are People Afraid of E-Commerce? September 2010
Page 40
Anthony OConnell
Case Study
The AA reminded customers that they could trust them and increased trust scores by 33%.
Page 41
Anthony OConnell
Case Study
Express Watches customers are more concerned that they are an authorized dealer than price. The original: 1.8% conversion rate
Page 42
Anthony OConnell
The Winner: 3.78% conversion rate (increased of 106%)
Page 43
Anthony OConnell
Case Study
Candy Favorites added a McAfee secure seal to increase conversion by 7.5%
Page 44
Anthony OConnell
Take Action
Make sure forms are encrypted by SSL. Add secure payment logos near payment buttons. Add hacker proof logos. Add social proof, for example, show which facebook friends have subscribed to your service. Add testimonials - make testimonials believable using full names, video, photos and links to websites. Add logos of media outlets that have written about your company.
Page 45
Anthony OConnell
Provide Customer Reviews

Product reviews provide a very powerful trust signal as people trust what other people have to say. It works as social proof that the product is either good or bad.
Key Findings
Google Trusted Stores program, which rates retailers performance in customer service and shipping increases conversion rates by 3.1% and average order size by 5.5% according to Tom Fallows, Group Product Manager, Google Shopping. 77% of online shoppers use reviews and ratings when purchasing (Jupiter Research) 63% of consumers indicate they are more likely to purchase from a site if it has product ratings and reviews. (CompUSA and iPerceptions study) 86.9% of respondents said they would trust a friends recommendation over a review by a critic, while 83.8% said they would trust user reviews over a critic. (MarketSherpa)
Take Action
Add customer reviews on product pages Get proactive in getting customers to provide reviews e.g. send an automated email with a coupon for money off if they review the product. Add Google Rich snippets to your reviews. This will display stars in Google search results and ads.
Page 46
Anthony OConnell
Streamline The Checkout Process

Enticing the customer to add your products to their shopping is just the first step in the checkout process. Its imperative to keep momentum going and to make it fast and easy for your customers to buy your products while overcoming hesitations and answering all questions along the way.
Key Findings
Only 64 percent of shopping carts filled on an e-commerce site will ultimately result in a purchase, according to JupiterResearch, 2006. In 2010 Forrester Research reported shopping cart abandonment rates of 55%. Two years later, Fireclick and DigitalRiver found abandonment rates to be 72.31%. The main reason behind shopping cart abandonment is a bad customer experience followed by indecision according to Forrester Research. Econsultancy found 36.75% of users abandon due to the process being too long. Additional charges is the most common reason for users abandoning an online purchase according to Econsultancy; 74.5% of consumers identify high delivery charges as a reason to abandon an online basket. The main reasons for abandoning the checkout process are hidden charges (70.8%), concerns about payment security (58.4%) and technical problems or slow loading pages (44%) according to Econsultancy(July 2011).
Page 47
Anthony OConnell
Top Reasons For Abandoning Shopping Carts
60% 50% 40% 30%
57% 48% 41%
19% 20% 10% 0%
18%
15%
12%
Didnt want to pay shipping charges Total cost more than anticipated Used shopping cart for research Didnt want to wait for the product Purchased offline Checkout Process too complicated Other
57% 48% 41% 19% 18% 15% 12%
ed
ne
ge
rc
uc
ed
at
of fli
ar
ea
od
at
ip
ch
es
pr
tic
ng
an
th
se
rr
pi
an
rt
or
ha
ip
rc
ca
th
tf
ai
Pu
sh
ng
pa y
pi
st
op
an
an
co
sh
tw
tw
al
se
To t
n'
id
Page 48
Source: Forester, Oct 2005. Rethinking The Significance Of Shopping Cart Abandonment
C he
id
ck
n'
ou
tP
tt
ro c
tt
es
or
to
co
fo
pl
ic
th
er
Anthony OConnell
Case Study
The official Vancouver 2010 Olympic store tested different checkout processes. The original: Multi-step checkout process
Page 49
Anthony OConnell
The winner: One page checkout increased conversions by 21.8%
Page 50
Anthony OConnell
Take Action
Eliminate unnecessary steps and only ask for information that is completely necessary in completing the transaction. Take out the fax number as a required field, for example. Let the visitor know that you value their privacy and that you have a secure site. Answer all your customers questions, in context. Let them know about shipping, returns and guarantee and tax without having to interrupt the buying process. . Remind customers about what theyre buying Provide a running total of all costs Provide easy access to purchase terms, payment types accepted, and return policies, from the shopping cart
Page 51
Anthony OConnell
Keep Shopping Carts Alive

Many customers dont buy on the first visit to your website so keep your shopping carts alive until they return again.
Key Findings
50 percent of Internet purchases are concluded more than an hour after the shopping cart was created (ScanAlert). Average time-to-purchase varies depending on the product type - from infant products (averaging just under nine hours) to luxury personal items, consumer electronics, and golf equipment which average two to three days (ScanAlert). 14% of online purchases take longer than a week to complete (ScanAlert). 67% of online shoppers that have abandoned a cart check multiple channels for prices before purchasing (Forrester Research). One third of shoppers use the Web for research before making the purchase in a store (Forrester Research).
Page 52
Anthony OConnell
Case Study
ASOS increased online retail sales by 58% to 324.8m by introducing a saved items are and other changes identified from a competitor benchmarking project.
Page 53
Anthony OConnell
Take Action
Make your shopping cart persist, without customers having to register or login to see the cart when they return. Inform your customers that their shopping cart will be waiting for them when they return.
Page 54
Anthony OConnell
Provide Outstanding Customer Service

Customer service on the web isnt just about solving problems or providing after sales support. Its about keeping customers delighted from the moment they enter your site.
Key Findings
Almost 30% of Web transactions reach a point where shoppers want to speak to someone before they buy (ATG).
Case Study
Jenny Craig used Click to Call to double conversion rates. Click to Call users are three times as likely to sign up for Jenny Craigs weight loss service as those who dont use Click to Call.
Page 55
Anthony OConnell
Case Study
Lessaccounting.com added a phone number that rang straight through to voice mail and increased conversions by 1.8%
Page 56
Anthony OConnell
Take action
Display your phone number prominently on your website. Provide a live chat option. Insert a form where customers can ask questions. Make it easy for customers to email you without having to fill in long contact forms. Dont interrupt the buying process by making customers search for answers, instead provide answers in the context where an answer is needed. Pop-up windows can be used to uninterrupt the buying process, keeping the customer on the right page. Anticipate questions and concerns, and answer them before your customers think of them. Reassure your customers that you are available and ready provide support.
Page 57
Anthony OConnell
Provide Promotions
Everyone loves a deal.
Key Findings
All the top 10 retailers have promotions and special offers on their front page. One in five online shoppers used a coupon code on their most recent purchase and almost 60 percent said that they wouldnt have made their most recent online purchase without a coupon code (Compete.com). 37 percent of consumers use coupons most of the time (Compete.com). Three in four consumers say free shipping would encourage them to purchase more products online (Kantar Media). The subject-line keywords that have the highest open rates, include coupon (16.3%) (Epsilon)
Take Action
Provide coupons. Provide free shipping. Provide buy 1 get 1 free promotions. Provide free gifts. Provide special reward points programs. Increase conversion rates by creating a sense of urgency with limited time or limited quantity offers.
Page 58
Anthony OConnell
Remarket
Remarketing enables business to capture lost sales using advertising or email.
Key Findings
Response rates for remarketing programs
140% 120% 100% 80% 60% 40% 20% 0%
Average Open Rate Average Click Thru Rate Average Conversion Rate
Retail abandoned basket 17% Travel and leisure post-holiday trigger 23% Insurance saved quote not buy 22%
Average Conversion Rate
Average Click Thru Average Rate Open Rate 28% 23% 29% 62% 75% 55%
Retail abondoned basket
Travel and leisure postholiday trigger
Insurance saved quote not buy
Source: RedEye Page 59 Learn how to escalate conversion rates at www.one.ie
Anthony OConnell
54 percent of all carts successfully recovered are regained within the first few hours after abandonment (SeeWhy). Average conversion rates for recovery emails that are sent immediately after abandonment are 11 percent, this falls to 6% after the first day and to 3% after a week (SeeWhy). Retargeted consumers are nearly 70% more likely to complete a purchase as compared to non-retargeted consumers (SEOmoz). Retargeted consumers spend, on average 50% more than those served with non-retargeted banner ads (SEOmoz).
Case Study
Yankee Candle used Remarketing on the Google Display Network to re-engage shoppers, increase conversion rates by 600% and cut cost-per-conversion in half. Using Googles tracking codes to tag visitors, Yankee Candle compiled a list of 41,000 visitors who had placed items in their shopping carts in the last 60 days, but who had not completed their purchases. Yankee Candle then showed both text and image ads with discount offers to these previous visitors across sites in the Google Display Network to encourage over 10% of their customers to return and complete their purchases.
Page 60
Anthony OConnell
Case Study
JetBlue Airways used remarketing to send emails to visitors of its website who dropped off while booking a flight. There were two goals 1. to finish booking the flight and 2. to join or login to its loyalty program. The company identified 4 places where customers could abandon their flight booking session and sent customized emails one day after the process was abandoned. If you look at the content of the email, were not really pushing anything. Theyre pretty simple. Its a gentle reminder to return to JetBlue, says Danielle Compitello, Email Marketing Manager at JetBlue. Compared to their standard email campaigns, JetBlues retargeting emails campaigns achieved... 150% increase in open rates. 170% increase in click-through rates. 200% increase in conversion rates (sales). 1,640% increase in revenue per email (when compared to JetBlues standard email promotions).
Page 61
Anthony OConnell
Take Action
Add tracking code to your website to tag and segment visitors for remarketing campaigns Setup an automated email system to send emails to visitors who abandon carts Act quickly, send the first email within the first few hours after they abandoned their cart. Use advertising to retarget visitors who abandoned carts. Brand advertisements with your website colors to stimulate brand recognition Retarget people on special occasions Retarget showing daily deals Retarget showing new products Retarget to thank customers Remember people get annoyed if they are told the same thing over and over. Use frequency capping to prevent over exposure and a sequence of ads to engage your audience in meaningful conversations.
Page 62

The Conversion Optimization Report

Hochgeladen von

Dokumentinformationen

Originalbeschreibung:

Copyright

Verfügbare Formate

Dieses Dokument teilen

Dokument teilen oder einbetten

Freigabeoptionen

Stufen Sie dieses Dokument als nützlich ein?

Sind diese Inhalte unangemessen?

Copyright:

Verfügbare Formate

The Conversion Optimization Report

Hochgeladen von

Copyright:

Verfügbare Formate

The Conversion Optimization Report

How to convert browsers into buyers

By Anthony OConnell - tony@one.ie

The Conversion Optimization Report : How to Transform Browsers into Buyers

Call Your Visitors to Action

Learn how to escalate conversion rates at www.one.ie

The Conversion Optimization Report : How to Transform Browsers into Buyers

Create Outstanding Headlines

Focus on One Goal

Optimize Images Create Urgency

Provide Customer Reviews

Learn how to escalate conversion rates at www.one.ie

The Conversion Optimization Report : How to Transform Browsers into Buyers

Streamline The Checkout Process

Keep Shopping Carts Alive

Provide Outstanding Customer Service

Provide Promotions Remarket

Learn how to escalate conversion rates at www.one.ie

The Conversion Optimization Report : How to Transform Browsers into Buyers

Learn how to escalate conversion rates at www.one.ie

The Conversion Optimization Report : How to Transform Browsers into Buyers

Conversion Rates by Retailer Segment

Electronics 1.6% 1.2%

Health & Beauty 6.4% 5.3%

Pets 5.4% 4.7%

Mass Merchants 4.0% 3.4%

Sporting Goods 3.6% 3.4%

Department Stores 3.3% 3.3%

Apparel 5.2% 5.4%

Home Improveme nt 1.0% 1.1%

Office Supplies 5.4% 7.0%

Learn how to escalate conversion rates at www.one.ie

The Conversion Optimization Report : How to Transform Browsers into Buyers

Conversion rates vary depending on if the visitor is new or returning

August 2012 2.40% 3.40% 1.70%

Conversion rates vary by traffic source

August 2012 2.20% 1.00% 6.40%

Social shoppers convert less than search engine shoppers...

Facebook 73.19% 45.67% 3.08% 0.49%

Google 56.30% 25.69% 7.22% 2.44%

Learn how to escalate conversion rates at www.one.ie

The Conversion Optimization Report : How to Transform Browsers into Buyers

Top 10 Online Retailers By Conversion Rate

Woman Within 20.4%

Oriental Trading Company

Roamans 0.0% 5.0% 10.0%

14.4% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0%

Source Neilsen Company 2010

Learn how to escalate conversion rates at www.one.ie

The Conversion Optimization Report : How to Transform Browsers into Buyers

Conversion Rate Optimization

B2B B2C Both B2B2C

Positive ROI 33% 51% 57%

ROI not calculated 45% 35% 23%

Dont know 20% 13% 17%

The Conversion Optimization Report : How to Transform Browsers into Buyers

Key Performance Indicators

Some KPIs to consider

Learn how to escalate conversion rates at www.one.ie

The Conversion Optimization Report : How to Transform Browsers into Buyers

KPIs can be analyzed from a number of perspectives including

Learn how to escalate conversion rates at www.one.ie

The Conversion Optimization Report : How to Transform Browsers into Buyers