Conversion rate optimization is often limited to testing elements of a website. Button colors, button sizes, images and image placements are few common elements that are tested for optimization. Conversion Rate Optimization can be easily used to optimize beyond website elements to optimize business outcomes.
In this webinar, we will discuss how psychological theories, behavioral insights, research insights and insights through usability testing can be used to build hypothesis for testing. We will also discuss how these hypotheses can be effectively tested and implemented to gain optimum business outcomes.
Benefits of doing Internet peering and running an Internet Exchange (IX) pres...
Conversion Rate Optimization for Business Growth
2. A Data Driven Digital Agency
We let Numbers and Science speak
Our solutions are always backed by data.
They’re not just personal opinions.
“They brought value into each stage of the project lifecycle…to drive
user engagement and sales.”
Tania Aidrus
Country Manager – Emerging Markets Google
7. The Success Cycle
Growth
Growing the number of users
Revenue
Increasing revenue
Product
Building/ Improving the product for to engage with
expected audience
What Success Really Means
9. Pick Your Top Metric
• Aligned with your business
• Measure Values for Users
• Is Summable
YouTube:
Number of videos watched
vs
Number of minutes watched
13. Ideation Framework
Research Papers
Publications
Literature Review
Psychology Theories
Heuristics/Rule of thumb
Information Architecture
Visual Architecture
Neuro Persuasion
Google Analytics
Mouse tracking
Eye tracking
Video tracking
Web Analytics
Third Party data analysis
Surveys
Observation
Interview
Content Analysis
Focus group
Quantitative/Qualitative
Analysis
idea
14. Literature Review
Ecommerce Travel B2B Lead Gen
Speed of delivery is the most
influencing factor
Customers start with experience
type without exact experience in
mind
Customer doesn't get exited
about the technology but
improving his business
efficiency.
15. Web Analytics
Ecommerce Travel B2B Lead Gen
Visitors who watched YouTube
video convert better
Visitors clicks on the logo
thinking it as a button
TV buyer take 30+ days to
research
Human image attacks the
human image before CTA
Visitors who looked at gallery
convert better
Only 5% scrolled to bottom of
the page up to the contact form
16. Quantitative/Qualitative Analysis
Ecommerce Travel B2B Lead Gen
Return policy is more important
in fashion ecommerce
Indian travellers prefer Indian
restaurants
CXO love to engage with
industry news.
17. Neuro Persuasion
Ecommerce Travel B2B Lead Gen
Instant gratification works better
“One more step to make this
yours”
Loss aversion refers to people's
tendency to prefer avoiding
losses to acquiring equivalent
gains: it's better to not lose $5
than to find $5.
Two call to action works better
than single call to action
19. There can be lots of great ideas. But it is important to
identify the priorities.
20. Frameworks for Prioritization
PIE framework ICE framework PXL Framework
There are frameworks which could be used to identify the priorities of an A/B test
21. PIE Framework
• Potential – How much improvement can be
made on the pages?
• Importance – How valuable is the traffic to the
pages? (amount of traffic, etc.)
• Ease – How complicated will the test be to
implement on the page or template?
22. ICE Score
• Impact – What will the impact be if
this works?
• Confidence – How confident am I
that this will work?
• Ease – What is the ease of
implementation?
23. PXL Framework
The key benefits:
• It makes any “potential” or “impact” rating more objective
• It helps to foster a data-informed culture
• It makes “ease of implementation” rating more objective
24. You need to get the help of a good A/B testing tool to
implement your idea in the site and test.
28. Key Advantages
• Different experiment types
• It is Free to use • Easy integration with Analytics
• Comprehensive reporting
• Visual editor plus sophisticate code
editing capabilities
• Different targeting options
29. Limitations of the Free Version
• Limited concurrent testing (3 tests at a time)
• No Google Analytics audience targeting
• Limited multivariate testing (16 variations)
• Pre-selected experiment objectives –
• Google Optimize 360 allows you to go back and change the
experiment objective to see how the experiment would’ve impacted
other Google Analytics goals.
38. Use Google Analytics to analyze your test results and draw
conclusions.
It allows you to be more confident in your data and decision
making.
39. What if there are no clear differences between the
variations???
40. Next Step
If a clear winner is not found, it could be due to the incorrect hypothesis.
BUT…. Don’t come to a conclusion FAST…!
Correct Hypothesis but incorrect
implementation
Segment the test sample and analyze
41. Use GA to segment the test sample and analyze the test
results within the segment.
Examples:-
• Browser type
• Source type
• Device type
• Campaign type
• New vs. returning
• Men vs. women
• Age range
43. Anchoring Effect
Anchoring is a cognitive bias that describes the common human
tendency to rely too heavily on the first piece of information offered
(the "anchor") when making decisions.
Our approach was to set the original price as the anchor and hence
the discounted price will be evaluated compared to the anchor.
22% improvement in conversions
ReapDigital Case Study
Control
Variation
44. Using Scarcity Principle
ReapDigital Case Study
15% improvement in conversions
Scarcity principle can be used to persuade people
whenever they are looking to buy products which
have lower quantities available.
45. Instant Gratification
Humans are hardwired to want things -- now. It’s called instant gratification, and it’s a powerful force. It can make people convert,
as long as you’re doing the right things.
We did a test to motivate the users’ selection in an ecommerce site with a positive note. It helped to improve the conversions
30% improvement in
conversions
ReapDigital Case Study
46. Isolation Effect
Hypothesis of the test was to make
the color of the CTA in the product
pages to stand out from the other
elements of the page.
A different color CTA has improved
CTR and ultimate conversions.
54% improvement in
conversionsReapDigital Case Study
Control Variation – with Green button
48. Removing Distractions
By removing the potential distractions in the important pages such as
checkout page assisted in improving the ultimate conversions.
Visitors’ focus should only go towards the most essential action of the
page.
8% improvement in conversions
ReapDigital Case Study
Control
Variation – Without Menu
49. Utilizing Analytics Data
By displaying the most visited sub-categories at the top of the category page have assisted users’ navigation and
reduced the bounce rate as well as improved the conversions.
Control Variation
15% improvement in conversions