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Conversion RateOptimisation
AN INTRODUCTION TO CRO
ecommerce conversion platform
By Tim Renew, cloud.IQ & Jez Wilson, SPACE.NK.apothecary
Tim RenewGlobal Sales Director
@cloudIQApps
Your speakers
Jez WilsonHead of Ecommerce
@Space_NK
ABOUT CLOUD.IQ
We provide powerful conversion tools for businesses who want to increase revenue from their online activity.
Visit our website for more information:
www.cloud-iq.com
LONDON
SYDNEY
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
Data Insights
Targeted Emails
Native 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
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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:Understand your customers interests
• Build up profiles of the types of products people are interested in
• When that product is on sale/ relevant season you have your target list
• Reduce marketing cost/ target more affectively during periods like BlackFriday
Catch Their Attention:Dynamically Generate Content
Catch Their Attention:Lifestyle Imagery
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Build the image you want the customer to associate with your brand
Let others talk about your Brand for you
Dynamic Overlays:Social Share
• Data captured on user behaviour should be used to turbo-charge your email marketing campaigns
• Send dynamically generated, profile relevant emails such as Browser abandonment
• Unify the customers shopping experience creating more brand loyalty
• Increase Average Order Value per consumer
• Fully linked in with Stock availability and business rules
targetMail:Real time consumer profiling for engagment
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
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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
Native App IntegrationTracking possibilities
APP OPEN
Tracks when the users open the application
Open date/Time, User App ID, User device ID, User email address, user phone number, user member id
CHANGE VIEW
Tracks when the user transitions from one view to the next
Identifier of page or view, Title of page or view, Referring view, iSOlanguage code, arbitrary territory code
VIEW ITEM
Tracks when the user selects an item to view in detail
ProductID, Product Name, Description, product main image, product thumbnail image, product manufacture, product size
PICK ITEM
Tracks when the user places an item in their shopping cart
ProductID, product name, description, main image, thumbnail image, manufacturer, size, quantity, price, voucher codes, currency, tax
PURCHASE ITEM
Tracks when a user places and order (finalizes a purchase) for an item
ProductID, product name, description, main image, thumbnail image, manufacturer, size, quantity, price, voucher codes, currency, tax
APPENDIX
Results to Expect
33
Example Results:
7.3% Uplift in Online Revenue
18% Conversion from Emails sent
6,259% R.O.I
34
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
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Travel Customer Results:
74,000%R.O.I
ABANDONMENT RATE 90%
RE – MARKETED TO 12,508
NUMBER RECOVERED SALES 2,031
REVENUE RECOVERED £3.42M
CONVERSION RATE 16.23%
UPLIFT CREATED 3.7%
CLICK THROUGH RATE 12.19%
1 month’s data
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.
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‘Thanks to cloud.IQ'sconversion 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
37
Download your FREE eBook today
Contains tips on how to:
• Re-market to customers throughout the purchase journey
• Convert more site visitors in to subscribers• Maximize your customer touch points
Just visit this link to download your copy:
cloud-iq.com/ebook-convert-more
