Are You Ready To Move Towards Conversion Optimization?
Transcript of Are You Ready To Move Towards Conversion Optimization?
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Are you ready for Conversion
Optimization?
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Ask Questions on Twitter
#AskVWO
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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
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Brands that trust
VWO
Over 5,000 high-growth brands
trust VWO for their conversion
optimization needs.
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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
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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
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A little about you
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INCREASE REVENUEWhat is the primary
conversion goal of your
Website?GENERATE LEADS
MORE ENGAGEMENT
OTHERS
48%
41%
11%
1%
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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%
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Most commonly used methods for
optimizing conversion rates
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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
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Adding ‘Free Shipping’
threshold leads to
increase in AOV by
7.3%
A N E X A M P L EVariation
Control
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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
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So What Does It Take To
Achieve Your Goals?
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A successful Optimization
Engine
People Process Techniques
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Building a Team
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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
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>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
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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
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Adopting the
right process
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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%
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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
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Tools & Techniques
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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
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It is a complex landscape
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Let’s Dive Deeper Into
What VWO Can Do
For Your Business
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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
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What we are going to talk about
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HAPPY OPTIMIZING
vwo.com
Q&A