Jon Powell - MECLABS - offer response optimization - IMS Boston 2012
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Transcript of Jon Powell - MECLABS - offer response optimization - IMS Boston 2012
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Learn how to replicate a 331% li2 in your own inbound marke9ng efforts
Offer Response Op+miza+on
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Session Speaker
Jon Powell Marke+ng and Sales Funnel Op+miza+on MECLABS
A tes.ng and op.miza.on veteran with hands-‐on experience gained through managing hundreds of A/B and mul.variate tests for ecommerce, healthcare, financial, and educa.on Research Partners and clients. Jon studies prospects, products and processes to help organiza.ons strategically write themselves in the stories of those that interact with them.
Recent test highlights:
331% increase healthcare search traffic lead conversion rate
672% increase educa.on program site applica.ons
129% increase educa.on program browsing lead conversions
@JonPowell31
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EXPERIMENT Inbound Offer Response
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Background: Migraine Treatment Centers of America offers an innova.ve long-‐term migraine treatment solu.on to people suffering from migraines. Goal: To increase leads from the website Primary Research Ques+on: Which value exchange strategy will result in a higher conversion rate? Approach: A/b mul.factor split
Experiment ID: MTCA Microsite Test Loca+on: Marke.ngExperiments Research Library Test Protocol Number: TP1560
Research Notes:
Background and Test Design
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The control landing page casts a broad net and aVempts to bridge all content to ac+on connec+on with a single message and CTA.
Experiment: Version A
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The treatment accounts for three major lead types with three evenly weighted columns.
Experiment: Version B
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Experiment: Side-‐by-‐side Version A Version B
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Experiment: Results
Version CR Rel. diff Stat. Conf
Version A 1.6% -‐ -‐
Version B 7.0% 330.6%
331% Increase in lead rate The Treatment generated 330.6% more conversions than the Control
What You Need to Understand: By matching the content and calls to ac9on to the thought sequence of the three primary prospect types, Version B generated a 331% higher conversion rate than the control.
99%
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What made this approach so successful?
Version B
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Key Principles What we discovered
1. Too o^en, marketers take a rule based approach to marke.ng their content
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Rule-‐based Op4miza4on
Science-‐based Op4miza4on
vs.
• Emphasize hero shots • Keep it above the fold • Avoid too much copy • Emphasize the Benefits • Don’t use reverse text • Don’t rely too much on Flash • Implement basket recovery emails • Avoid auto-‐on audio
Prac+ce
Methodology
Meta-‐theory
Rules vs. Science
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Key Principles What we discovered
1. Too o^en, marketers take a rule based approach to marke.ng their content
2. To find gains when rules don’t work, a scien.fic approach is needed
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A SHOPPING EXPERIENCE Offer Response Op+miza+on
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A Shopping Experience
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The Result
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A Common Problem
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The MECLABS Conversion Index
C = 4m + 3v + 2(i-‐f) -‐ 2a ©
Wherein: C = Probability of conversion m = Mo.va.on of user v = Clarity of the value proposi.on i = Incen.ve (addi.onal) to take ac.on f = Fric.on elements present a = Anxiety elements present
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Perceived Value Exchange
Perceived Value
Perceived Cost
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EXPERIMENT Mo+va+on
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Background: Medical provider specializing in trea.ng chronic back pain. They are the sole providers of a minimally invasive, innova.ve pain management procedure. Goal: To plan a content marke.ng strategy based on the copy focus that generates the most appeal in condi.on-‐based searchers. Primary Research Ques+on: Which content focus (copy) will achieve a higher clickthrough rate? Approach: A/B Mul.factor Split Test
Experiment ID: NAS Content Approach Loca+on: Marke.ngExperiments Research Library Test Protocol Number: TP40XX
Research Notes:
Experiment: Background
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Treatments
[Condi.on] Sufferer? Learn about the causes & solu.ons, from the experts in spine health. NorthAmericanSpine.com/[condi.on]
[Condi.on] Sufferer? Free access to back pain resources from the experts in spine health. NorthAmericanSpine.com/[condi.on]
[Condi.on] Sufferer? Compare available treatments, from the experts in spine health. NorthAmericanSpine.com/[condi.on]
[Condi.on] Sufferer? How to recognize the symptoms, from the experts in spine health. NorthAmericanSpine.com/[condi.on]
Back Pain Resources Causes & Solu.ons
Symptoms Treatment Op.ons
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[Condi.on] Sufferer? Free access to back pain resources from the experts in spine health. NorthAmericanSpine.com/[condi.on]
T1: Back Pain Resources [Condi.on] Sufferer? Compare available treatments, from the experts in spine health. NorthAmericanSpine.com/[condi.on]
T2: Treatment Op.ons
[Condi.on] Sufferer? Learn about the causes & solu+ons, from the experts in spine health. NorthAmericanSpine.com/[condi.on]
T3: Causes and Solu.ons [Condi.on] Sufferer? How to recognize the symptoms, from the experts in spine health. NorthAmericanSpine.com/[condi.on]
T4: Recognize Symptoms
Results
What You Need to Understand We discovered that the symptom copy focus recorded a
99.7% rela4ve increase in click-‐through rate
"
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Key Principles What we discovered
1. Prospect mo.va.on cannot be determined…it must be discovered
2. Mo.va.on has the highest coefficient because it is the most important deciding factor in the sales process.
3. Prospect mo.va.on can be based upon 1) internal mo.va.ons of the prospect and 2) external events surrounding a prospect
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Mo.va.on
Internal Relevance
• Personal interests
• Demographics • Shopping habits
• Personality
• Communica.on styles
• Level of engagement
External Relevance
• Seasonality
• Special discounts • Limited-‐.me offers
• News events
• Compe..ve ini.a.ves
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EXPERIMENT Clarity of the Value Proposi+on
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Background: Medical provider specializing in trea.ng chronic back pain. They are the sole providers of a minimally invasive, innova.ve pain management procedure. Goal: To determine which presenta.on of the content focus will result in the greatest measurable interest (click-‐through) Primary Research Ques+on: Which presenta.on will achieve a higher clickthrough rate? Approach: A/B Mul.factor Split Test
Experiment ID: NAS Content Approach Loca+on: Marke.ngExperiments Research Library Test Protocol Number: TP4068
Research Notes:
Experiment #2: Background
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Control Ad Template
Bulging Disc Treatment Read about our 30-‐minute treatment for bulging disc back pain relief. NorthAmericanSpine.com/Bulging_Disc
Herniated Disc Treatment Herniated Disc? You Have Op.ons. Ask Our Experts About AccuraScope™. NorthAmericanSpine.com
Proven Scia.ca Treatment Relieve Scia.ca Nerve Pain with Our Unrivaled 30-‐Minute Procedure. NorthAmericanSpine.com/Scia.ca
Degenera.ve Disc Disease Relieve Degenera.ve Disc Pain w/ Our Unrivaled Revolu.onary Program NorthAmericanSpine.com/Degenera.ve
Relief From Back Pain Read about our 30-‐minute treatment for total freedom from back pain! NorthAmericanSpine.com
Pinched Nerve Treatment New 30-‐Minute Procedure, Reclaim Your Life From Pinched Nerve Pain. NorthAmericanSpine.com/PinchedNerve
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Version A
What we will learn: • The effect of the symptoms
content approach in the headline only
What has changed
• ‘Symptoms’ added to headline with the specific condi.on searched for
Bulging Disc Symptoms Read about our 30-‐minute treatment for bulging disc back pain relief. NorthAmericanSpine.com/Bulging_Disc
Herniated Disc Symptoms Herniated Disc? You Have Op.ons. Ask Our Experts About AccuraScope™. NorthAmericanSpine.com
Scia.ca Symptoms Relieve Scia.ca Nerve Pain with Our Unrivaled 30-‐Minute Procedure. NorthAmericanSpine.com/Scia.ca
Pinched Nerve Symptoms New 30-‐Minute Procedure, Reclaim Your Life From Pinched Nerve Pain. NorthAmericanSpine.com/PinchedNerve
Lumbar Back Pain Symtpoms Read about our 30-‐minute treatment for total freedom from back pain! NorthAmericanSpine.com
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Version B
What we will learn: • The effect of the symptoms content
approach in the descrip+on only
What has changed
• Descrip.on uses the symptoms content approach with the specific condi.on searched for
Bulging Disc Treatment Read about Bulging Disc Symptoms and see how our experts can help! NorthAmericanSpine.com/Bulging_Disc
Herniated Disc Treatment Read about Herniated Disc Symptoms and see how our experts can help! NorthAmericanSpine.com
Proven Scia.ca Treatment Read about Pinched Nerve Symptoms and see how our experts can help! NorthAmericanSpine.com/Scia.ca
Degenera.ve Disc Disease Read how our spine experts can help relieve Degenera.ve Disc Symptoms! NorthAmericanSpine.com/Degenera.ve
Pinched Nerve Treatment Read about Pinched Nerve Symptoms and see how our experts can help! NorthAmericanSpine.com/PinchedNerve
Relief From Back Pain Read about Back Pain Symptoms and see how our experts can help! NorthAmericanSpine.com
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Version C
What we will learn: • The effect of the symptoms
content approach in both the headline + descrip+on
What has changed
• Both headline and descrip.on use symptoms content approach, while staying specific to the condi.on searched for
Bulging Disc Symptoms Read about Bulging Disc Symptoms and see how our experts can help! NorthAmericanSpine.com/Bulging_Disc
Herniated Disc Symptoms Read about Herniated Disc Symptoms and see how our experts can help! NorthAmericanSpine.com
Scia.ca Symptoms Read about Pinched Nerve Symptoms and see how our experts can help! NorthAmericanSpine.com/Scia.ca
Pinched Nerve Symptoms Read about Pinched Nerve Symptoms and see how our experts can help! NorthAmericanSpine.com/PinchedNerve
Lumbar Back Pain Symptoms Read about Back Pain Symptoms and see how our experts can help! NorthAmericanSpine.com
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Experiment: Results
Version CTR Rel. diff Stat. Conf
Control 0.28% -‐ -‐
Version A (headline) 0.26% -‐7%
Version B (descrip.on) 0.21% -‐25%
Version C (headline & descrip.on) 0.39% 40.3%
40.3% Increase in click through Version C generated 40.3% more click throughs than the Control
99%
99%
99%
What You Need to Understand: The symptom content approach has the greatest clarity when it is used in both the headline and descrip+on for visitors conduc.ng condi.on-‐based searches
[Condi.on] Symptoms Read about [Condi.on] Symptoms and see how our experts can help! NorthAmericanSpine.com/[Condi.on]
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What we discovered
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Value Proposi.on Ques.on
If I am your ideal prospect, why should I buy from you rather than your
compe4tors?
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Key Principles 1. The force of a value proposi.on can be measured by
four essen.al elements of the offer:
• Appeal – How much do I desire this offer?
• Exclusivity – Where else can I get this offer? • Credibility – Can I trust your claims?
• Clarity – What are you actually offering?
The Force of a Value Proposi.on
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KEY CONCEPTS Incen+ve
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Incen.ve
Ideal Incen+ve: Incen.ves must be tested. There is an “ideal incen.ve.”
Un.l you find an incen.ve that gives you a major ROI increase, you must assume you have not yet found the ideal incen.ve.
Fric.on Elements Incen.ves
ABANDON COMPLETION
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KEY CONCEPTS Fric+on
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Key Principles Fric.on
Two common elements that create Fric.on: 1. Length 2. Difficulty
Fric.on is also generated by pages and processes that do not match a proper thought sequence. Therefore, the message must be specifically cra^ed to synchronize to the decision paHerns of the recipient
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Fric.on: Example 1 …but this Not this…
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Fric.on: Example 1 …but this Not this…
47% IN CONVERSION
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Fric.on: Example 2
Not this… …but this
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Fric.on: Example 2
Not this… …but this
93% IN CONVERSION
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Fric.on: Example 3
Not this…
…but this
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Fric.on: Example 3
Not this…
…but this
81% IN CONVERSION
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EXPERIMENT Anxiety
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Experiment ID: New York Times Loca+on: Marke.ngExperiments Research Library
Background: The New York Times came to us with a subscrip.on product that they were having difficulty marke.ng called the “Electronic Edi.on” Goal: To increase the number of subscrip.ons for the “Electronic Edi.on” Primary research ques+on: Which page design will generate the most subscrip.ons? Approach: A/B split test (variable cluster)
Research Notes:
Experiment: Anxiety
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The primary cause of anxiety for this page is that this is a paid up-‐front service which prominently displays the price with a de-‐emphasized free trial offer.
Original
Experiment: Control
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To relieve anxiety we changed all offers to the lowest risk free trial offering and de-‐emphasized the price of the paid subscrip.on.
Op.mized
Experiment: Treatment
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Op.mized Original
Experiment: Results
541% Increase in conversions Treatment 1 generated 541.6% more conversions than the Control
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1. Anxiety is just as lethal (and growing) to conversion as fric.on.
2. If you think about mi.ga.ng anxiety in ra.onal terms, you are likely to fail in your efforts. Though anxiety o^en is s.mulated by a legi.mate concern, its degree/impact is o^en dispropor.onate to the measure of risk.
3. Anxiety is also localized in the buy process. It is closely associated with the geography of the page.
Key Principles Anxiety
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REVIEW Concepts
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The MECLABS Conversion Index
C = 4m + 3v + 2(i-‐f) -‐ 2a ©
Wherein: C = Probability of conversion m = Mo.va.on of user v = Clarity of the value proposi.on i = Incen.ve (addi.onal) to take ac.on f = Fric.on elements present a = Anxiety elements present
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Methodology Review
• To get more
• You need to increase perceived value
• And decrease perceived cost
Perceived Value
Perceived Cost
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Session Speaker
Jon Powell Marke+ng and Sales Funnel Op+miza+on MECLABS
A tes.ng and op.miza.on veteran with hands-‐on experience gained through managing hundreds of A/B and mul.variate tests for ecommerce, healthcare, financial, and educa.on Research Partners and clients. Jon studies prospects, products and processes to help organiza.ons strategically write themselves in the stories of those that interact with them.
Recent test highlights:
331% increase healthcare search traffic lead conversion rate
672% increase educa.on program site applica.ons
129% increase educa.on program browsing lead conversions
@JonPowell31
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Learn how to replicate a 331% li2 in your own inbound marke9ng efforts
Offer Response Op+miza+on