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3 Strategies for Prioritizing A/B Tests for the Highest Impact

Date post: 11-Aug-2014
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Which A/B tests you should you focus on in order to maximize revenue on your Ecommerce site? We will show you the most common ways to prioritize your A/B tests as well as ways to identify opportunity and pain points for your site.
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3 Strategies for Prioritizing A/B Tests for the Highest Impact
Transcript
Page 1: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

3 Strategies for

Prioritizing A/B Tests

for the Highest Impact

Page 2: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Conversion optimization is one of the key techniques to getting the most out of your traffic.

Page 3: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Even a marginal improvement to conversions can dramatically affect your revenue.

Page 4: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

The issues of what to test  and when are critical to developing a strategic approach to A/B testing for Ecommerce marketers.

Page 5: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Every test you run has an opportunity cost.

Page 6: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

If your efforts do not target the areas with the highest possible impact

Page 7: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

then you are not getting as much out of your tests as you should.

Page 8: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

So…!

Where’s the money?

Page 9: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Take your conversion funnel

Page 10: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

and turn it upside down.

Page 11: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

The upward pointing triangle you’re looking at corresponds to the expected value of each user in the funnel based on their probability of purchasing.

Page 12: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

More accurately, the expected value of each user is equal to the probability of converting times the value of the items in the cart.

Page 13: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

As they move closer to checkout, they signal their intent to continue with the purchase.

Page 14: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

This method of visualization demonstrates the value to be gained by testing the areas closest to the money.

Page 15: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Even a small improvement to the checkout process can make a significant increase to your revenue.

Page 16: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Okay, let’s turn the conversion funnel back around.

Page 17: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Okay, let’s turn the conversion funnel back around.

Page 18: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

The top of the funnel can be seen as the persuasive end.

Page 19: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Only the most deliberate of shoppers will focus wholly on purchasing what they came to the site for.

Page 20: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Only the most deliberate of shoppers will focus wholly on purchasing what they came to the site for.

Those who clicked your site at a time when they weren’t ready to begin shopping will bounce.

Page 21: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Only the most deliberate of shoppers will focus wholly on purchasing what they came to the site for.

Those who clicked your site at a time when they weren’t ready to begin shopping will bounce.

The vast majority of users at this point still need to be persuaded to buy from you and move forward with their purchase.

Page 22: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

You have their attention, but now you need their interest and desire.

Page 23: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

The bottom of the funnel is the action end. This is where the intention to purchase is

put to the test.

Page 24: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

The timeliness and fit of the checkout experience with the user’s context is the most important factor here.

Page 25: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

The timeliness and fit of the checkout experience with the user’s context is the most important factor here.

Things that they are concerned about will be further deliberated at this stage.

Page 26: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

The timeliness and fit of the checkout experience with the user’s context is the most important factor here.

Things that they are concerned about will be further deliberated at this stage.

The users will keep mentally weighing whether the purchase is a good idea based on a multitude of factors.

Page 27: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

What methods are most commonly used

for prioritizing A/B tests?

Page 28: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Prioritizing based on perceived

opportunity

Page 29: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Prioritizing based on perceived

opportunity

Test based on the expected impact of the changes on conversion rate and other key metrics.

Page 30: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Prioritizing based on perceived

opportunity

Test based on the expected impact of the changes on conversion rate and other key metrics.

This includes changes to template pages that can have a site-wide impact.

Page 31: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Prioritizing based on

pain points

Page 32: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Prioritizing based on

pain points

Pain points include: Unexpected heatmap activity, lower than normal metrics, or other data uncovered suggesting a problem.

Page 33: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Prioritizing based on

pain points

Pain points include: Unexpected heatmap activity, lower than normal metrics, or other data uncovered suggesting a problem.

See the top “% Exit” pages on Google Analytics for the most obvious areas of improvement.

Page 34: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Prioritizing based on

increases to revenue per

customer

Page 35: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Focus exclusively on increasing order value per customer.

Prioritizing based on

increases to revenue per

customer

Page 36: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

This means identifying areas where upselling may occur and facilitating browsing and product discovery.

Prioritizing based on

increases to revenue per

customer

Focus exclusively on increasing order value per customer.

Page 37: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

This means identifying areas where upselling may occur and facilitating browsing and product discovery.

Time on site is a key metric for this.

Prioritizing based on

increases to revenue per

customer

Focus exclusively on increasing order value per customer.

Page 38: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

What are the best strategies for identifying

opportunity and pain points in your store?

Page 39: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Funnel bottlenecks

Page 40: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Funnel bottlenecks

Map out your conversion funnel and find the bottlenecks (the pages with the lowest micro-conversions).

Page 41: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Funnel bottlenecks

Map out your conversion funnel and find the bottlenecks (the pages with the lowest micro-conversions).

If you’re using a common URL slug for various page types, you can figure this out in Google Analytics.

Page 42: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Funnel bottlenecks

Map out your conversion funnel and find the bottlenecks (the pages with the lowest micro-conversions).

If you’re using a common URL slug for various page types, you can figure this out in Google Analytics.

Otherwise, plot the data in Excel to figure it out manually!

Page 43: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Rank pages by traffic vs. conversion

rate

Page 44: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Rank pages by traffic vs. conversion

rate

Sort your product pages by the highest traffic and lowest converting product pages.

Page 45: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Test closest to the money

Page 46: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Test closest to the money

Testing closest to the money can have the highest impact on your bottom line.

Page 47: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Test closest to the money

Testing closest to the money can have the highest impact on your bottom line.

Start with your checkout and move backwards through the process

Page 48: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Test closest to the money

Testing closest to the money can have the highest impact on your bottom line.

Start with your checkout and move backwards through the process

This will allow you to see the most direct improvement in conversions and revenue.

Page 49: 3 Strategies for Prioritizing A/B Tests for the Highest Impact

Although the above strategies will help increase your conversion rates, find out why A/B testing is not

enough.

Download the Free Whitepaper!


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