are you ready to move towards conversion optimization?

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Are you ready for Conversion Optimization?

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Page 1: Are You Ready To Move Towards Conversion Optimization?

Are you ready for Conversion

Optimization?

Page 2: Are You Ready To Move Towards Conversion Optimization?

Ask Questions on Twitter

#AskVWO

Page 3: Are You Ready To Move Towards Conversion Optimization?

About VWOWorld’s Leading

Conversion Optimization

Platform

2.5Bn+ 600k+

5000+ 91

Users served per

month

Experiments run

on our platform

Customers across

the globe

Countries

Page 4: Are You Ready To Move Towards Conversion Optimization?

Brands that trust

VWO

Over 5,000 high-growth brands

trust VWO for their conversion

optimization needs.

Page 5: Are You Ready To Move Towards Conversion Optimization?

VWOThe All-in-One Connected

A/B Testing and

Conversion Optimization

Platform

ANALYZE

visitors’ behaviors

in real time

• Heatmaps

• Session Replays

• Forms

• Surveys

TRACK

your key business

goals

• Goals

• Funnel

your optimization

program with your team

• Observation

• Hypotheses

PLAN

and validate your

ideas

• A/B Test

• Split Test

• Multivariate Test

• Bayesian Stats

TEST

specific visitor

groups

• Personalization

• Segmentation

TARGET

Page 6: Are You Ready To Move Towards Conversion Optimization?

What we are going to talk about

• Are you ready to move to conversion optimization - Today

• Art of conducting visitor research - 27 November

• How to plan your optimization roadmap - 5 December

• Scaling your A/B Testing program - 12 December

Page 7: Are You Ready To Move Towards Conversion Optimization?

A little about you

Page 8: Are You Ready To Move Towards Conversion Optimization?

INCREASE REVENUEWhat is the primary

conversion goal of your

Website?GENERATE LEADS

MORE ENGAGEMENT

OTHERS

48%

41%

11%

1%

Page 9: Are You Ready To Move Towards Conversion Optimization?

Since how long have

you been running A/B

Tests

We are just starting up

It’s been a little over 3-4 months

6 months to a year

1 to 2 years

52%

41%

10%

11%

More than 2 years 10%

Page 10: Are You Ready To Move Towards Conversion Optimization?

Most commonly used methods for

optimizing conversion rates

Page 11: Are You Ready To Move Towards Conversion Optimization?

What is A/B testing

In the most simplest form, A/B

Testing is comparing two versions

of a web page to see which version

performs better for a defined

conversion goal

Page 12: Are You Ready To Move Towards Conversion Optimization?

Adding ‘Free Shipping’

threshold leads to

increase in AOV by

7.3%

A N E X A M P L EVariation

Control

Page 13: Are You Ready To Move Towards Conversion Optimization?

Is A/B Testing really working?

Only Only More than

1 in 8

Tests create a

major impact

on conversions

25%

Companies are quite

satisfied with their

conversion rates

7in

10

Companies do not

take a structured

approach to testing

Source: Conversionxl and econsultancy 2016 report

High frequency, low returns testing

Page 14: Are You Ready To Move Towards Conversion Optimization?

So What Does It Take To

Achieve Your Goals?

Page 15: Are You Ready To Move Towards Conversion Optimization?

A successful Optimization

Engine

People Process Techniques

Page 16: Are You Ready To Move Towards Conversion Optimization?

Building a Team

Page 17: Are You Ready To Move Towards Conversion Optimization?

Different models for a Team

In-house

• Completely managed by employees

• Typical skills required to kick off a team - Marketing + UX + Coding

Agency/Vendor

• Entire Optimization program managed by an Agency or Full service Vendor

Hybrid

• In-house team with certain activitiesoutsourced to Freelancers or Agencies

Page 18: Are You Ready To Move Towards Conversion Optimization?

>4FTE

Strong correlation between the team size and

how long the optimization program has been

running at the company

What is size of your optimization

team?

10%8%

52%

31%

11.5

2.5

7.5

0

1

2

3

4

5

6

7

8

0%

10%

20%

30%

40%

50%

60%

<6 months 6 months to anYear

1-3 years >3 years

Page 19: Are You Ready To Move Towards Conversion Optimization?

Dev, Design, QA

are the top outsourced areas

What areas of optimization are you

most likely to outsource?0% 5% 10% 15% 20% 25% 30% 35%

Entire Optimization Program

Strategy

Project Management

Idea Generation

User Research

UI/Design of the Test

Copywriting

Development of the Test

QA of the Test

None

Page 20: Are You Ready To Move Towards Conversion Optimization?

Adopting the

right process

Page 21: Are You Ready To Move Towards Conversion Optimization?

What restricts you from scaling

your conversion optimization

efforts?

No optimization roadmap/framework

Institutional issues like low traffic

Difficulty in understanding a/b test

results

Poor applicability of CRO tools

37%

28%

9%

8%

Lack of buy from the leadership

team7%

Other 11%

Page 22: Are You Ready To Move Towards Conversion Optimization?

A step-by-step

approach to increase

conversions

Conversion Rate Optimization Process

Research

Tracking metrics and identifying what

parts of conversion funnel need fixing

Hypothesize

Constructing educated hypothesis,

based on your research

Prioritize

Planning and prioritizing your hypothesis

Test

Testing your hypothesis against the existing

version of the website

Learn

Deploying the winning hypothesis and/or

gathering learning for subsequent tests

Multiple frameworks and processes

prescribed by expert practitioners all follow

the same flow for optimization

Page 23: Are You Ready To Move Towards Conversion Optimization?

Tools & Techniques

Page 24: Are You Ready To Move Towards Conversion Optimization?

5+

Tools are used on average by

a conversion optimization

team

How many tools do you use for

conversion optimization?

0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%

Less than 3

3 to 5

5 to 10

10 to 15

Page 25: Are You Ready To Move Towards Conversion Optimization?

It is a complex landscape

Page 26: Are You Ready To Move Towards Conversion Optimization?

Let’s Dive Deeper Into

What VWO Can Do

For Your Business

Page 27: Are You Ready To Move Towards Conversion Optimization?

A Connected Conversion Optimization Platform

1Data Consistency & Coherence:Common Users & Conversion Definition

4Organizational ease: Single

contract, Single invoicing, Single

tracking code

3Connectedness: Complete

user journey at one place

CONNECTED CRO

PLATFORM2Single platform for Website Optimizers,

Product Managers, UI-UX teams, CRO

specialists, Growth Managers

Page 28: Are You Ready To Move Towards Conversion Optimization?

What we are going to talk about

Page 29: Are You Ready To Move Towards Conversion Optimization?

HAPPY OPTIMIZING

vwo.com

Q&A