Your Conversion Optimization Idea Engine By Chris Goward

PowerPoint Presentation

How to use the new growth management processYour Conversion Optimization Idea Engine

#SMX #31C@ChrisGoward

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Goal: sign up for the monthly subscription

#SMX #31C 2007-2016 WiderFunnel Marketing Inc.@ChrisGoward

2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #Awesome

Hypothesis: Adding a social inclusion button will lift orders.Hypothesis: Adding a sense of urgency button will lift orders. 6.5% Signups 0.5% SignupsVar A: Social SignalVar B: UrgencyControlGoal: sign up for the monthly subscription?


2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #AwesomeYou should be skeptical of so-called best-practices


2007-2016 WiderFunnel Marketing Inc.Tweet this: @chrisgoward #AwesomeWhy do we at WiderFunnel talk about the optimization process so much?4

Chris Goward, Founder & CEODeveloped WiderFunnels LIFT Model and Infinity Optimization Process Advises clients on B2B, B2C, Lead Gen, E-commerce, and Affiliate marketingIn demand as a keynote speaker globallyAuthor of the book: You Should Test That!Get a free chapter at: YouShouldTestThat.com



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(Want to know which button worked better?)


2007-2016 WiderFunnel Marketing Inc.Tweet this: @chrisgoward #AwesomeWhy do we at WiderFunnel talk about the optimization process so much?6


2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #AwesomeHeres the button that did work best.

Does that mean this one will work best for you? No. And its not all that important.

We found much more valuable insights7


2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #AwesomeLike the specific types of video we can add to the landing pages to maximize sales.

But, there are even more important things were learning than the specific tactics on landing pages. Tweaking and tuning is very limited.8


2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #AwesomeWhat we hear over and over again...


2007-2016 WiderFunnel Marketing Inc.Tweet this: @chrisgoward #AwesomeHow can we get consistent optimization results?Will I hit an optimization ceiling?How should we respond to losing tests?Do test results fade over time?How do I build a winning optimization team?How do I build an ongoing growth program?


2007-2016 WiderFunnel Marketing Inc.Tweet this: @chrisgoward #AwesomeIll answer those questions with a story.

#SMX #31C 2007-2016 WiderFunnel Marketing Inc.

@ChrisGoward

2007-2016 WiderFunnel Marketing Inc.Tweet this: @chrisgoward #Awesome


2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #AwesomeIf youve searched for anything DMV (Department of Motor Vehicles) related in the US, youve likely ended up on DMV.org at one point or another. They are a non-government run content website, based in San Diego. Their revenue is primarily generated by affiliate offers found on their website.

Their mission is to help you either avoid having to go to the DMV (its a painful experience) or to know what to bring when you do have to go there.

Increase affiliate revenue per visitor. Full service engagement using Infinity Optimization Process>282% revenue increase after 3 years.


2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #AwesomeDMVs primary goal was to increase affiliate revenue by increasing affiliate offer click-through-rate (CTR) AND the quality they were sending to partners. They only make money when their partners make money. With WiderFunnel's support, the company has built a world-class optimization program that has consistently lifted their revenue. In fact, for three years running, the program has doubled their revenue on their highest revenue products compounded each year. At the same time, weve been able to build a framework of customer insights that continue to deliver top results.

Affiliate Offer AreaOriginal Control

The website ranks well for thousands for relevant keywords and provides helpful information.Desktop Auto Insurance FunnelThe affiliate offer area was a primary area of focus (representing 90% of company revenue).


2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #AwesomeMost visitors reach DMV.org through organic search, via keywords related to cars and licenses.

Insurance Funnel


2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #AwesomeBecause DMV.org is only paid when theres a transaction, they have an opportunity to use conversion optimization to directly lift their revenue per visitor - and greatly impact the business.

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The Situation Three Years AgoHigh Volume website with a one-person optimization teamMish-mash of ad server technology, Optimizely and Adobe Analytics for A/B testingLacked confidence in test resultsHunt and peck optimization planning4 - 8 tests per monthUnknown optimization opportunity


2007-2016 WiderFunnel Marketing Inc.Tweet this: @chrisgoward #AwesomeWe knew there were inefficiencies in our testing program, but didnt know how far off we were or what to do about it.

We didnt know if we had good findings or how to make decisions. Too many times we made decisions based on emotion.Shane Hale, director of site optimization and conversion at DMV.org


2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #AwesomeChallenges faced: Limited staff, unreliable experiment results 18

The best optimization process delivers proven growth and insights


2007-2016 WiderFunnel Marketing Inc.Tweet this: @chrisgoward #AwesomeIve focused our company, WiderFunnel, on optimizing and testing the process of optimization. Im going to show you the latest version of it today. 19

Infinity Optimization Process


2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #AwesomeDMV.org needed a better program design and more expertise added to the team to drive consistent optimization results. WiderFunnel did more than just run a few A/B tests for DMV.org: The teams worked together to develop an integrated long- term optimization program that consistently delivers both revenue lift and customer insights. The most advanced organizations view optimization as an ongoing strategy. It's not a one-time project and it doesn't have an end point where the company's experiences are "optimized." WiderFunnel's Infinity Optimization Process shows how this works for companies like DMV.org.

Combines diverse information through the lens of the customer experience.

Generates surprising customer insights to be validated.

Explore

2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #AwesomeExplore uses an as-needed method for pulling in data from various sources to fill knowledge gaps and search for insights. Its conducted through the perspective of a conversion optimization framework, called the LIFT Model.

2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #AwesomeIn my session on Wednesday, Ill get into more detail on how you can use the components within the Explore phase and some other case studies too.22

All data viewed through the customers perceptual lenses using the LIFT Model.

Explore

2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #AwesomeExplore uses an as-needed method for pulling in data from various sources to fill knowledge gaps and search for insights. Its conducted through the perspective of a conversion optimization framework, called the LIFT Model.

(Note: For more info, google WiderFunnel Lift)LIFT Model





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Clarity: Repeats previous step headlineClarity: Low button prominenceDistraction: Too many colorsDistraction: Gradient backgroundDistraction: Three column layout adds complexityDistraction: Too much content for a simple actionAnxiety: Unable to select multiple providers at once


2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #AwesomeConfirms the efficacy of creative insights through rigorous A/B testing.

Generates new insights based on surprising customer behaviour.

Validate


Variation CControlVariation AVariation B

Reduce distraction + auto zip entryButton isolation (vs B)Headline isolation (vs A)



Variation CControlVariation AVariation B+ 22.9%+ 8.4%+ 19.2%

Reduce distraction + auto zip entryButton Isolation (vs B)Headline isolation (vs A)



Design of Experiments is used to maximize the growth and insights results from experiments.

Validate


ControlVariation C+ 22.9%CTA Isolation (vs B)



ControlVariation AVariation BVariation CUrgency subheadChoice Isolation (vs A)

Lovability Isolation (vs B)



ControlVariation AVariation BVariation C- 9.7%+ 19.2%+ 11.8%Urgency subheadChoice Isolation (vs A)

Lovability Isolation (vs B)



Where do these ideas come from?The process generates an unending stream of them.


2007-2016 WiderFunnel Marketing Inc.Tweet this: @chrisgoward #Awesome

Explore

2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #AwesomeThe choice is yours effectA Meta-Analysis of the Effectiveness of the But You Are Free Compliance-Gaining Technique, 2012 Christopher J CarpenterAnalyzed 42 studies that involved 22,000 participants. Telling the person they have the freedom to choose nearly doubled sales success rates.


2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #AwesomeProfessor at Western Illinois University



2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #AwesomeContent page banner testing

ControlVarA-5.95%

VarB+3.43%VarC-3.93%

VarD-0.16%

VarE+5.25%VarF+7.34%


2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #Awesome39




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Married or not clusterQualifySocial Proof focusVariation AVariation BVariation CControl



Married or not clusterQualifySocial Proof focusVariation AVariation BVariation CControl+ 14.0%+ 40.39%



Social proof (bandwagon effect)We tend to put our trust in something because we believe many other people have put their trust in it first. We feel like there is safety in numbers.


2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #AwesomeWhen we see a group of people we want to be a part of, social proof kicks in and the innate need to feel a sense of belonging drives us to conformity. We want to be part of the in crowd. This effect is so strong that people often ignore or even override their beliefs to follow the crowd.

In one study, two Berkeley economists found that a star increase in ratings on Yelp improved a business chances of having all of its seats sell out by 49%.

Growth + Insights = Awesome


@ChrisGoward

2007-2016 WiderFunnel Marketing Inc.Tweet this: @chrisgoward #Awesome Social Proof works For this audience and context!


2007-2016 WiderFunnel Marketing Inc.Tweet this: @chrisgoward #AwesomeNo. Thats not the learning. The learning is what works for this business. Your insights will be different. Which is why you need the process.45









0.0% Conversion Rate

Must UseAll The Tactics!


2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #AwesomeInfinity Optimization Process


2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #AwesomeDMV.org needed a better program design and more expertise added to the team to drive consistent optimization results. WiderFunnel did more than just run a few A/B tests for DMV.org: The teams worked together to develop an integrated long- term optimization program that consistently delivers both revenue lift and customer insights. The most advanced organizations view optimization as an ongoing strategy. It's not a one-time project and it doesn't have an end point where the company's experiences are "optimized." WiderFunnel's Infinity Optimization Process shows how this works for companies like DMV.org.

Do test results fade over time?


@ChrisGoward

2007-2016 WiderFunnel Marketing Inc.Tweet this: @chrisgoward #AwesomeSix months of conversion optimizationPainful months

32.8%


2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #AwesomeSix months of conversion optimizationPainful months

32.8%

36.8%


2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #Awesome12 months of conversion optimizationOuch!

100.8%


2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #Awesome12 months of conversion optimizationOuch!

100.8%123.7%


2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #Awesome24 months of conversion optimization259.8%


2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #AwesomeCumulative results259.8%282.2%


2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #AwesomeHeres where we are nowThe right goals with SiteCatalyst and Optimizely integrationThe right process using Infinity Optimization ProcessThe right team integrated with DMV.org and WiderFunnelThe right pace now running 500+ tests per yearThe right results revenue doubled three years in a row


2007-2016 WiderFunnel Marketing Inc.Tweet this: @chrisgoward #AwesomeShane Hale, director of site optimization and conversion at DMV.org

Senior-level buy-in was critical to success Track the right goalsTrust the process with your expert partnerDont be afraid of the left-field variationsAnalyze for segmentation insights

Keys to Success


2007-2016 WiderFunnel Marketing Inc.Tweet to: @chrisgoward #AwesomeSenior-level buy-in was critical to success. Raj and Bob, the senior decision-makers, led the search for the optimization partnerTrust is earned. At first, hesitance to test the site-wide mini banner. After 12 months, they gave WiderFunnel a shot at it with big results. After the on-site annual meeting, got permission for the mini.Trust the process. Series of six losing tests then produced a huge revenue win.Analyze for Segmentation insights. Post-test analysis.Include 10% of the left-field variations. Try anything once.

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Learn how to become an optimization champion

Download the free Optimization Champions Handbook: www.WDRF.NL/handbook

Email your questions to: [email protected]


@ChrisGoward

2007-2016 WiderFunnel Marketing Inc.Tweet this: @chrisgoward #AwesomeProfitable A-ha! moments everyday.


2007-2016 WiderFunnel Marketing Inc.Tweet this: @chrisgoward #AwesomeWe partner with high performance brands to deliver profitable A-ha! moments everyday. 62

SEE YOU AT THE NEXT #SMX!THANK YOU!

#SMX #31C@ChrisGoward

Date post:	08-Jan-2017
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