5 tested ways to increase conversion rates
DESCRIPTION
This presentation shares fresh eCommerce Best Practices for increasing Conversion Rates. It was held by Laurentiu Ghenciu, VP of Global Sales & Marketing, at Avangate during the European Software Conference(ESWC) 2009, in Berlin, Germany.TRANSCRIPT
5 Tested Ways To Increase Conversion Rates
Presented by:Laurentiu GhenciuVP of Sales & Marketing
Who is Laurentiu?
Laurentiu is the Avangate’s main responsible with • Avangate Lions & FREE Internet [marketing]• Making Money [sales]• Officially : VP of Sales & Marketing @ Avangate
Talk to hundreds of Vendors all around the world about..• Weather• And their problems – ex: their shopping cart conversion
rate, products exposure, affiliates, online market penetration, etc, etc..
Topics Today
Old, classic, but still intriguing, never-ending story• Shopping Cart Conversion Rate [SC CR]
Case study with a Partner Software Vendor• More than 5 little factors tested• Results of the tests• How each little thing has contributed to the overall increase
of the conversion rate
Best SC CR in the room?
Some say…• 20% is good• No, 30% is good• What ?? 65% is good !!!
The truth is:• We all know it depends on so many factors !
Factors that can influence SC CR
Source and quality of traffic sent to SC Product quality and buy now integration Pricing strategy Marketing campaigns (running promotions, marketing programs, Shopping Cart loading time Shopping Cart design and wording Shopping Cart Payment Methods Shopping Cart cross-selling, up-selling, bundling, etc.. Logos, certifications and guarantees present in Shopping Cart Ordering Support Information [Toll Free /local phone numbers, Support
Languages ] etc, etc
Test 1 - Shopping Cart Loading Speed
Test 1 – SC Template Loading Time
Serving content from multiple servers around the world (closer to end users location)
Optimizing the way we serve content to the end users
Serve cached content
Placed all images in one sprite file and optimized all Javascript requests
Test 1 - Results
The Shopping Cart templates loading times decreased by ~3 times.
Conversion rate increased by 2%
Test 2 – Cross-Selling Effects
For our case study client:
Cross-selling was decreasing conversion rates by 2-3%
But overall revenue increased by the same amount
Test 2 – Test Results
Template ANo cross-selling
Template BWith cross-selling
Template ANo cross-selling
Template BWith cross-selling
Test 3 – Logos Matter
Look and feel details are important. Phishing scammers are recognized based on missed details
Consistency between prices, titles and product options
Help & Support Information
Security Logos
Test 3 – Logos Matter
Trusted Partners
When dealing with third party ecommerce provider, letting users know beforehand that they will be taken to another domain decreases the abandonment rate
Test 3 – Test Results
Security logos brought an overall increase of 0.5% of the purchase funnel
Better customization of the visual elements in the shopping cart brought results of 2% increase in Conversion Rate
Other Case Studies showed even higher increases of up to 4%
Tip 4, 5 – Other little elements
Less is more• Splitting the ordering form according to shoppers statute
company / consumer increased the conversion rate by up to 1%
• Taking out fields that were optional and not of big value for our vendor and annoying for the shopper increased the conversion rate by another 0.5%
Orientation is good• Adding ordering steps so the users know their position in
the cart brought also average increases of another 0.5%
All you need is…
Shopping Cart integrated with Advanced Web Analytics tools [mandatory to have Cross-Domain tracking]• Google Analytics + eCommerce Tracking Module [FREE]• Omniture [THE BEST]
Multivariate testing per template [eCommerce]• Or you may use Google Website Optimizer, but still needs
to be integrated with your eCommerce provider
Some final remarks..
If you address only one single factor [ex: logos], SC CR may increase only by 0.5% or by up to 4%• More factors addressed, more chances to have higher
increases
However, don’t follow others’ generic advices • Do your own tests – your shoppers are YOUR shoppers• Don’t forget “BEFORE/AFTER” for each test !
Want to know more ?
Articles on our blog and twitter• blog.avangate.com • twitter.com/avangate
Join our free tips newsletter: Avangate Digest• avangate.com/newsletter/
Join our December Webinar
Any questions now ? [not too technical, please ]
Thank You !..and don’t try this at home , without proper
guidance and tools
Have Fun, Have Sales!
Contact
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