CRO as part of a multi-channel brand strategy to boost conversion and sales

WEBINAR

TIM RENEWGLOBAL SALES DIRECTOR

@cloudIQapps

GUY ENGLISHCRO & ANALYTICS DIRECTOR

@McCannConnected

NICK LOCKWOODHEAD OF STRATEGIC ALLIANCES

@cloudIQapps

ecommerce conversion platform

HOW CRO CAN ENHANCE A MULTI-CHANNEL

STRATEGY

WE DON’T GO ONLINE

WE LIVE ONLINE

HEAD OF RETAIL, GOOGLE

AND WITH SO MUCH CHOICE, THERE’S NO

REASON TO REMAIN LOYAL

WE HAVE BECOME IMPATIENT AND

IMPULSIVE

Research shows that forty percent of users will abandon a

website if it takes more than three seconds to load.

40%

SOURCE: AKAMAI

Forty four per cent of online shoppers will tell friends & family

about a poor web experience

44%

SOURCE: AKAMAI

Eighty eight per cent of online consumers are unlikely to return

to a website after a poor user experience

88%

SOURCE: ‘WHY WEB PERFORMANCE MATTERS’

Digital spend is top heavy and disproportionate

Spent on digital advertising in 2015 according to the IAB

£8.6bn

Yet we know from our experience that many brands spend up to

only 5% of their budget on optimising the website

50

Small change. Big difference

What is your monthly traffic?

What is your Conversion Rate? %

What is your Average Order Value? This is your Sales Value divided

by the number of Transactions

Show me the value of CRO

£

250,000

2.00 %

If we convince 1 extra person in every 100 to convert, the increase in annual revenue would be

£1,500,000

That’s an extra £125,000 per month

FASHION FOOD & DRINK B2B & TECHRETAIL TRAVEL & LEISUREGAMING HOUSE & HOME

We have multi-sector industry experience

Data-driven insight mixing ‘logic’ and ‘magic’

LOGIC MAGIC+ = INSIGHT DRIVEN

OPTIMISATION

Be driven by data (the ‘logic’)

The ABC for unlocking data-driven insights

A. B. C.

Analytics

• Web Analytics

• Visual Analytics

• Form Analytics

Business

• Intelligence

• Immersion

Channels

• Paid Media

• Organic Search

Be driven by the consumer (the ‘magic’)

Attitudes

• Listen to what

your audience

say

Behaviour

• Watch how

they engage

with your site

Competitors

• Monitor the

market

The ABC for unlocking consumer-driven insights

A. B. C.

And prove it with conversions

A/B Test

• Validate

• Experiment

Behavioural

• Capture

• Retarget

Consistent

• Multi-channel

• Multi-device

A. B. C.

The ABC for delivering conversions

Case Study: Data-driven de-cluttering

Journeys abandoned despite an intent to convert

Problem

Issue

Significant drop-offs at each stage in the basket

Outcome

Basket de-cluttering results in £10,000,000 in annual

revenue

Case Study: It’s not always in the data

High drop-offs at the very last moment

Problem

Issue

A simple misuse of terminology

Outcome

Copy-change results in £4,000,000 in annual revenue

CRO enhances the entire customer journey

Awareness

Acquisition

Convert

Retention

IT MAKES EVERYTHING ELSE

LOOK GOOD

CRO to convert more customers and increase sales

TIM RENEW, GLOBAL SALES DIRECTOR

Official Conversion Partner

Only 2% of visitors convert to an online sale

SETTING THE SCENE

Today any ecommerce business can

increase their online revenue by

6% - 12% by implementing an effective

CRO program

RETAIL

TRAVEL & HOSPITALITY

TELECOMMUNICATIONS

CONVERSION RATES BY INDUSTRY WHAT CRO CAN ACHIEVE

2.3% AVG

2.2% AVG

1.1% AVG

SETTING THE SCENE: RETAIL

Understand – Engage - Acquire

Data

Insights

Targeted

EmailsNative App

Smart

Overlays

• Create a control group of present

site performance

• Build a complete picture of

customer profile and journey

• Map products and campaigns to

stage of abandonment

• Use control group to measure

success and implement ongoing

A/B or Multivariate testing

Data InsightsUnderstand your traffic, where the pinch points are and how best to optimise inline with your business goals

Have they Been to your site before?

- First Time Visitor- Repeat Visitor- Have they bought before- VIP Customer- Logged in user

What Traffic Source did they come from?

- Search Engine- Email Campaigns- Display- Referring Website- Direct- AdWords Campaign

Where are they coming from?- Mobile, Computer, iPad, - I.P address- Country

What do we already know about them?

- Known Values – Name, Title, gender- Browsed X Times- Bought X Times- Average Spend

BUSINESS OBJECTIVES/ GOALS- Present Stock levels- Seasonality- Cost of Acquisition- Business Focus

2727

Understand – ENGAGE - Acquire

Dynamic Overlays:Start Being Smart

• Use real time actions from your

site to determine what is going

to help progress that person

through the buying process

• Understand their likeliness to

purchase and what message is

going to engage with them the

most

• Make sure the message match

the goals that the business has

visitCapture:E-mail list builders

• Target visitors that you have not

captured information from before

• Present on designated rules rather

than on entry

• Substantially build your email

database

• Track all future activity back to this

email address, helping to build

your profile and single customer

views

visitCapture:Educate your customers

• B2B example but equally useful in

the B2C world

• Educate your customers through

their buying process and help them

decide what option is best for them

• Customer will associate knowledge

with your brand

• Kick off a lifecycle campaign to

keep nurturing the user through

the buying process

Catch Their Attention:Dynamically Generate Content

Understand – Engage - ACQUIRE

exitCapture:Offer codes based on user profile/ Business needs

• If users match specific criteria set

then offer them a relevant discount

code

• Do not offer it to people that do not

need or if it increases to cost of

acquisition too much.

• Use all your business intelligence

captured during the Understand

stage to decide if a discount code

is relevant

basketReminder:Make it easy for returning customers

• An average or 75% of online

shopping carts are abandoned

before purchase

• You can convert between 15-20%

of them into a sale

• Capture your customer’s data as it

is entered enabling you to target

login & non-logged in users

• Send a series of emails to bring

them back to complete their

purchase

• Analyse and test key performance

data

cartRecovery:Trigger personalised emails to abandoned baskets

• Nurture the customer

through the buying process

• Send emails throughout the

buying cycle and at the

best time for your

customers

• Sending matrix allowing for

full control over emails

times based

on offer expiry

• Make sure you are taking

the customer as far down

the buying cycle as

possible

An example Abandonment campaignAdopt a timed email delivery strategy to engage your customers

Reminder

60 minReassurance

1 DayPromotion

7 Day

38

Live Emails: Make them work for you

Make sure your customers are always up-

to date with the right information and

create urgency with…

• live countdown timers

• stock feeds

• Pricing

• twitter feeds etc.

Replenishment Campaigns

• Understand product lifecycle and target the customer just before they are ready to buy again

Upsell/Cross sell• Do you offer

similar/associated products the user might be interested in

Referral Campaigns/Membership• Product Recommendations • Share with friend• Social share• Loyalty programs

Native App Integration

Conversion software for Native Mobile Apps

• 89% of time spent on media is through

mobile Apps (SmartInsights)

• Complete the Omni-channel experience

and secure the customer loop

• Mobile apps provide different challenges

& Opportunities but need to have CRO at

the heart

• Run multiple campaigns to engage with

people that abandon and persuade them

to come back and make a purchase

Results to Expect

42

Example Results:

7.3% Uplift in Online Revenue

18% Conversion from Emails

sent

6,259% R.O.I

43

Fully optimised CRO vs. Non-optimisedRecover a higher amount of sales

3 Brands implemented a optimised CRO

strategy and compared results

against the previous years non-optimised

results

There was no

drastic change

in web traffic to the

sites between the 2

years

The fully optimised campaign over a

period of 6 months generated an

average uplift of

206%

Optimised Campaign Non-optimised Campaign

Month BRAND 1 BRAND 2 BRAND 3 Month BRAND 1 BRAND 2 BRAND 3

Jun - 14 £4,122.30 £6,240.10 £2,866.54 Jun - 13 £2,635.11 £1,598.84 £488.02

Jul - 14 £5,150.49 £3,975.09 £1,811.85 Jul - 13 £3,851.07 £1,690.77 £727.62

Aug - 14 £7,430.94 £11,832.35 £1,606.52 Aug - 13 £4,775.56 £3,101.15 £957.92

Sep - 14 £4,861.86 £3,449.25 £535.91 Sep - 13 £2,557.53 £3,125.71 £1,219.57

Oct - 14 £6,868.76 £1,236.99 £701.39 Oct - 13 £6,551.24 £742.92 £352.55

Nov - 14 £14,578.71 £380.35 £888.61 Nov - 13 £3,048.92 £881.56 £1,122.10

Dec - 14 £25,830.83 £1,278.93 £3,2311.03 Dec - 13 £11,113.52 £823.30 £1,399.33

Total £68,843.89 £28,393.06 £11,532.85 £34,532.95 £11,964.25 £6,267.11

17% Customer Conversion

5.75% Online Revenue Uplift

134,470% R.O.I.

Case Study: Thomson

Cart

Recovery

Conversion rate optimisation Key Points

Conclusion

• Make the most of the

customers you already have

• Be Smart and have the

technology do the work for you

• The journey to buy should be

as easy as possible – identify

where your pinch points are

• Always keep your business

objectives in mind

• Quantify everything to results

conversion technology and PayPal partnership, we're now seeing more

customers come back to buy from us, and often spend more than their

original basket value.

45

‘Thanks to cloud.IQ's

conversion technology

and PayPal partnership,

we're now seeing more

customers come back to

buy from us, and often

spend more than their

original basket value’.

FITNESS SUPERSTORE

Questions?

NICK LOCKWOOD

HEAD OF STRATEGIC ALLIANCES

@cloudIQapps

cloud-iq.com

TIM RENEW

GLOBAL SALES DIRECTOR

@cloudIQapps

cloud-iq.com

GUY ENGLISH

CRO & ANALYTICS DIRECTOR

@McCannConnected

lakestarmccann.com