Are You Ready To Move Towards Conversion Optimization?

Post on 28-Jan-2018

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Transcript of Are You Ready To Move Towards Conversion Optimization?

Are you ready for Conversion

Optimization?

Ask Questions on Twitter

#AskVWO

About VWOWorld’s Leading

Conversion Optimization

Platform

2.5Bn+ 600k+

5000+ 91

Users served per

month

Experiments run

on our platform

Customers across

the globe

Countries

Brands that trust

VWO

Over 5,000 high-growth brands

trust VWO for their conversion

optimization needs.

VWOThe All-in-One Connected

A/B Testing and

Conversion Optimization

Platform

ANALYZE

visitors’ behaviors

in real time

• Heatmaps

• Session Replays

• Forms

• Surveys

TRACK

your key business

goals

• Goals

• Funnel

your optimization

program with your team

• Observation

• Hypotheses

PLAN

and validate your

ideas

• A/B Test

• Split Test

• Multivariate Test

• Bayesian Stats

TEST

specific visitor

groups

• Personalization

• Segmentation

TARGET

What we are going to talk about

• Are you ready to move to conversion optimization - Today

• Art of conducting visitor research - 27 November

• How to plan your optimization roadmap - 5 December

• Scaling your A/B Testing program - 12 December

A little about you

INCREASE REVENUEWhat is the primary

conversion goal of your

Website?GENERATE LEADS

MORE ENGAGEMENT

OTHERS

48%

41%

11%

1%

Since how long have

you been running A/B

Tests

We are just starting up

It’s been a little over 3-4 months

6 months to a year

1 to 2 years

52%

41%

10%

11%

More than 2 years 10%

Most commonly used methods for

optimizing conversion rates

What is A/B testing

In the most simplest form, A/B

Testing is comparing two versions

of a web page to see which version

performs better for a defined

conversion goal

Adding ‘Free Shipping’

threshold leads to

increase in AOV by

7.3%

A N E X A M P L EVariation

Control

Is A/B Testing really working?

Only Only More than

1 in 8

Tests create a

major impact

on conversions

25%

Companies are quite

satisfied with their

conversion rates

7in

10

Companies do not

take a structured

approach to testing

Source: Conversionxl and econsultancy 2016 report

High frequency, low returns testing

So What Does It Take To

Achieve Your Goals?

A successful Optimization

Engine

People Process Techniques

Building a Team

Different models for a Team

In-house

• Completely managed by employees

• Typical skills required to kick off a team - Marketing + UX + Coding

Agency/Vendor

• Entire Optimization program managed by an Agency or Full service Vendor

Hybrid

• In-house team with certain activitiesoutsourced to Freelancers or Agencies

>4FTE

Strong correlation between the team size and

how long the optimization program has been

running at the company

What is size of your optimization

team?

10%8%

52%

31%

11.5

2.5

7.5

0

1

2

3

4

5

6

7

8

0%

10%

20%

30%

40%

50%

60%

<6 months 6 months to anYear

1-3 years >3 years

Dev, Design, QA

are the top outsourced areas

What areas of optimization are you

most likely to outsource?0% 5% 10% 15% 20% 25% 30% 35%

Entire Optimization Program

Strategy

Project Management

Idea Generation

User Research

UI/Design of the Test

Copywriting

Development of the Test

QA of the Test

None

Adopting the

right process

What restricts you from scaling

your conversion optimization

efforts?

No optimization roadmap/framework

Institutional issues like low traffic

Difficulty in understanding a/b test

results

Poor applicability of CRO tools

37%

28%

9%

8%

Lack of buy from the leadership

team7%

Other 11%

A step-by-step

approach to increase

conversions

Conversion Rate Optimization Process

Research

Tracking metrics and identifying what

parts of conversion funnel need fixing

Hypothesize

Constructing educated hypothesis,

based on your research

Prioritize

Planning and prioritizing your hypothesis

Test

Testing your hypothesis against the existing

version of the website

Learn

Deploying the winning hypothesis and/or

gathering learning for subsequent tests

Multiple frameworks and processes

prescribed by expert practitioners all follow

the same flow for optimization

Tools & Techniques

5+

Tools are used on average by

a conversion optimization

team

How many tools do you use for

conversion optimization?

0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%

Less than 3

3 to 5

5 to 10

10 to 15

It is a complex landscape

Let’s Dive Deeper Into

What VWO Can Do

For Your Business

A Connected Conversion Optimization Platform

1Data Consistency & Coherence:Common Users & Conversion Definition

4Organizational ease: Single

contract, Single invoicing, Single

tracking code

3Connectedness: Complete

user journey at one place

CONNECTED CRO

PLATFORM2Single platform for Website Optimizers,

Product Managers, UI-UX teams, CRO

specialists, Growth Managers

What we are going to talk about

HAPPY OPTIMIZING

vwo.com

Q&A