Forget About Conversion Rate, It's All About Growth - Paul Rouke at Figaro Digital Conference 2015

#FigDigConf@paulrouke

FORGET ABOUT CONVERSION RATES

ITS ABOUT BUSINESS GROWTH

Paul Rouke

Founder & Director of Optimisation at PRWD

#FigDigConf


That is a lot of

website visitors

£8.1bn


Plan to increase their

budget for conversion

optimisation in 2016

OPTIMIZELY

of respondents

53%of your competitors


Based on a one month period for an ecommerce site, AOV of £60

SCENARIO

ACQ. SpendSession

sCR Revenue CR Lift

Rev

ChangeROI

£100,000 285,000 3% £514,000 - - 514%



What happens if we reduce acquisition costs and reinvest it in optimisation?

SCENARIO

ACQ. SpendSession

sCR Revenue CR Lift

Rev

ChangeROI

£100,000 285,000 3% £514,000 - - 514%

£90,000 257,000 3.45% £532,000 15% +£18,000 532%


Control

BASIC TESTING


PRWD Test Variation

BASIC TESTING


Result

+ 4.7%Reply Conversion Rate

BASIC TESTING


5 ISSUES HOLDING

COMPANIES BACK


Testing is about changing

button colours


There is no methodology

for optimisation


Lip service is paid to

“understanding our customers”

80% of companies believe their

customer experience is superior.

Only 8% of customers agree*


Most of the budget is

spent on the testing tool


The HIPPO doesn’t

really buy in to

data-driven

optimisation


Testing is just tweaking

Lack of methodology

Lack of genuine customer insight

Most investment is on the tool

Stakeholders simply don’t get it

SUMMARY OF WHY BUSINESSES AREN’T

GROWING THROUGH OPTIMISATION

The easy option is still

acquisition

Poor quality (or no) hypotheses

Low test success rate

Its done in silo

People simply don’t have the

time


So how can your business

grow through optimisation?



What happens if we reduce acquisition costs and reinvest it in optimisation?

SCENARIO

ACQ. SpendSession

sCR Revenue CR Lift

Rev

ChangeROI

£100,000 285,000 3% £514,000 - - 514%

£90,000 257,000 3.45% £532,000 15% +£18,000 532%



What happens if we invest more acquisition budgets in to optimisation to deliver bigger impact?

SCENARIO

ACQ. SpendSession

sCR Revenue CR Lift

Rev

ChangeROI

£100,000 285,000 3% £514,000 - - 514%

£90,000 257,000 3.45% £532,000 15% +£18,000 532%

£80,000 228,000 3.9% £600,000 30% +£87,000 600%


SECRET GROWTH OPPORTUNITIES

YOUR COMPETITORS DON’T KNOW - yet


GROWTH METHODOLOGYTM


Focus on sanity rather

than vanity metrics


VANITYCRO

METRICSNumber of tests run per month

Number of tests run this year

Number of tests currently live

Number of variations in our latest MVT

Biggest conversion rate impact test

SANITYCRO

METRICS% of tests which deliver an uplift

Average % increase on primary metric

% of tests which are conclusive

% of tests which deliver genuine learnings

% of tests which deliver over 5% CR

increase


CONTROL YOUR

OWN DESTINY

Before your competitors start controlling theirs…


Control

ADVANCED TESTING


PRWD Test

Variation

ADVANCED TESTING


Result + 18%Brochure Requests

ADVANCED TESTING


Control

ADVANCED TESTING


PRWD Test

Variation

ADVANCED TESTING


Result + 31%Brochure Requests

ADVANCED TESTING


Control

ADVANCED TESTING


PRWD Test Variation

ADVANCED TESTING


Result

+ 78%New visitor sign-ups

BE BOLD & PROVIDE EARLY & EASY OPPORTUNITIES TO CONVERT

ADVANCED TESTING


Truly understand user behaviour

Follow a defined methodology

Focus on quality, not quantity metrics

Exploit the full spectrum of testing

Use a true multi-disciplinary team

10 KEY WAYS TO GROW YOUR BUSINESS

THROUGH OPTIMISATION

Ensure every test has a strong hypothesis

Invest over 80% of budget on expertise

Engage the wider business

Do whatever you can to get senior buy-in

Start controlling your own destiny


Website Visitors On-site Conversion

Intelligent testing is your biggest growth lever


THANK YOU FOR LISTENING

To find out more please come and

meet me and some of the PRWD

team today

bit.ly/CROresources

Forget About Conversion Rate, It's All About Growth - Paul Rouke at Figaro Digital Conference 2015

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