Conversion Optimization for Startups

Презентация изнутри:

Слайд 0


Слайд 1

Hello! I am Espen Grimstad Serial Entrepreneur, Product Manager & Conversion Optimisation advisor / Experiments AS @espengrimstad [email protected]

Слайд 2

What is your Conversion rate?

Слайд 3

Avg. U/A conversion rate on e-commerce sites 2014 2.2% #smartinsights

Слайд 4

Optimization before marketing build optimize drive traffic

Слайд 5

Figure out what works, do more of that Chris Neumann

Слайд 6

CRO Marketing Chris Neumann Product

Слайд 7

Don’t assume, use science

Слайд 8

Conversion Optimization for Startups Agenda ■ What is CRO? ■ Gains ■ Method ■ Tools ■ Case study

Слайд 9

CRO Gains Why do we do CRO?

Слайд 10

Improves any metric on your website

Слайд 11

Super high ROI, super measurable

Слайд 12

Increases new customers, registrations, downloads

Слайд 13

Creates the musthave user experience

Слайд 14

Builds long-term business value

Слайд 15

CRO Method How to apply CRO to your startup website or app?

Слайд 16

“ “a method of using science and tools to continuously improve the performance of your website or app”

Слайд 17

Conversion Rate Optimisation Method Plan Investigate Ideate Experiment Collate

Слайд 18

STEP 0: PLAN Define Scope. Create Focus and Directions

Слайд 19

Figure out what doesn’t work

Слайд 20

Dave McClure’s Pirate Metrics

Слайд 21

Dave McClure’s Pirate Metrics AARRR

Слайд 22

Example AARRR metrics Dave McClure

Слайд 23

Estimating conversion value

Слайд 24

Слайд 25

Select the investigation scope Dave McClure

Слайд 26

STEP 1: INVESTIGATE Understand User Behaviour

Слайд 27

Figure out why it doesn’t work

Слайд 28

Quantitative tools

Слайд 29

Слайд 30

Слайд 31

Qualitative tools Insights User behavior UX research

Слайд 32

STEP 2: IDEATE Create your hypothesis

Слайд 33

Come up with ideas on how to fix it

Слайд 34

Everything is an ASSUMPTION Change Page Layout New Header copy Remove functionality Add new CTA Insert Video on page Add trust badge in footer

Слайд 35

Your Hypothesis Change you want to make will lift conversion rates for Signups / Product sale

Слайд 36

Ideation tools

Слайд 37

STEP 3: EXPERIMENT Setup Your A/B Test (or A/B/C/D Test)

Слайд 38

Test your ideas

Слайд 39

Basic A/B testing

Слайд 40


Слайд 41

Experimentation tools

Слайд 42

STEP 4: COLLATE What have we learnt? Analyze and implement

Слайд 43

Summarize results and add to roadmap

Слайд 44

Collation tools

Слайд 45

THE STACK What, Why, How and When

Слайд 46

The CRO Stack options The What The Why Quantitative Tools Qualitative Tools The Creative Ideation Tools The How & When Experimentation Tools The Learning Collation Tools

Слайд 47

TRANSFERCAR CASE Optimizing their request funnel Increasing annual revenue with est. 2.5M NOK

Слайд 48

The Rental Car Industry Business Problem Rental car companies are spending large amounts of money on transferring cars between their branches in order to position their fleet for new hires. Most companies are hiring trucks or trains to transfer their cars, and the average cost is over $600 per car. How can the rental car companies save money on car transfers?

Слайд 49

The Solution Transfercar matches rental cars with travelers that need to be transferred willing to drive them for free Rental companies gets a low cost transfer, Travelers gets free one-way rental cars, Transfercar gets paid by the rental car companies - it’s a win-win-win!

Слайд 50

Drivers get free service and free rental cars

Слайд 51

3 countries 140 80,000 registered drivers companies 35,000 transfers

Слайд 52

The planning Transfercar case

Слайд 53

Plan: optimize Transfercar request funnel RO’s (O) Users (U) Request funnel New requests (R) Inventory (I) New bookings (B) New Cancellations (X) Completed Relocations (C) New listings (L)

Слайд 54

Request funnel details view Users (U) Home page Content pages incl. Blog and Help Search page Details pages Authentication wall Confirmation page Request confirmed (R)

Слайд 55

Project plan (Scope: US website 1. Investigate funnel with and Mixpanel – Collect test results in Sheets, break down problems per page – Report in Slides 2. Ideate. Convert findings to ideas. – Add ideas to Prodpad – Vote on ideas 3. Experiment with Optimizely in voting order – Collect results – Update Prodpad ideas on Impact 4. Prioritize ideas on Impact vs Effort (most low-hanging fruit) in Prodpad – Decide product roadmap in Prodpad – Implement

Слайд 56

The Transfercar project CRO stack Investigation Tools The What The Why • Quantitative • Qualitative The Creative Ideation Tools The How & When Experimentation Tools The Learning Collation Tools

Слайд 57

The investigation Transfercar case

Слайд 58

Conversion rates (before) - Mixpanel

Слайд 59 test script (extract) 1. Tell us about the first impression the site gives you. What is offered? Is it relevant to you? Would you feel it's worth spending more time here? 2. Feel free to click around. What do you feel like doing next? Go ahead and do what comes natural. Tell us what you're thinking, what you're looking for, and what you find good or annoying. Proceed to the next question once you're ready for a new task. 3. Now tell us about your second impression. What is offered? 4. Would you personally be interested in using this service (why/why not)? Do you feel like you can trust the company and the product/service offered? 5. At this point, would you feel comfortable booking a car through Transfercar? Do you have any questions you'd want answered before you would proceed? If so, go ahead and see if you can find these answers. Please talk about what you're thinking and looking for along the way.

Слайд 60 investigations ● 20 trial user test: ● 10 computers ● 5 smartphones ● 5 tablets ● Additional 40 user test: ● 20 computers ● 10 smartphones ● 10 tablets 60 tests in total

Слайд 61

Result: Over 180 issues collected Users (U) Home page 15 Search page Content pages incl. Blog and Help 4 30 Details pages 35 Authentication wall 20 Confirmation page 44 Request confirmed (R) ...and many more. View all issues collected.

Слайд 62

Details page top issues Desktop and tablet Mobile Not clear that days have to be selected in the calendar picker (13) Difficult to see the details on a phone (1) Pricing is confusing. Does not understand the pricing at all, does not understand that some day are free and additional days cost extra (4) Phone - picking dates on the calendar is difficult (1) "or similar" is a negative. Want to know the exact vehicle type (2) Branches - what does the big circle mean? Would it be better with a pin? (2) Importance: High View 14 video highlights from listing details page test Importance: Medium

Слайд 63

Auth wall top issues Desktop Mobile and tablet Long wait for confirmation email, or not received during the test at all (**often with Yahoo!**) /went to spam (10) On tablets: Email not recognized as an email address at first entry. Maybe because of "space" after .com? (4) Believes if registering, it takes the user to the front page and have to start all over again (does not understand that he can enter the code directly) (3) Suggest "log in with Facebook/G+/Amazon" or other known service (2) Importance: Medium View 9 video highlights from auth wall test Importance: Low

Слайд 64

The ideation Transfercar case

Слайд 65

Слайд 66

Слайд 67

The experimentation Transfercar case

Слайд 68

Experiments ● Conducted 19 Optimizely experiments based on Prodpad votes (high impact/low effort) ● A/B and multivariate testing

Слайд 69

Details page original

Слайд 70

Details page variant Bold and rephrased label in a color separating from calendar picker bigger button and font size

Слайд 71

Details page results

Слайд 72

Auth wall variant new copy

Слайд 73

Auth wall results

Слайд 74

Experimentation results ● ● ● ● 9 weeks 5 experiments negative 14 experiments positive Request funnel conversion rates increased from 2.02% to 2.68%

Слайд 75

Conversion rates (after)

Слайд 76

The collation Transfercar case

Слайд 77

Impact and effort aids roadmap decisions

Слайд 78

The aftermath Transfercar case

Слайд 79

Search page: New search engine ● ● ● Replaced the existing search page with a new (Solr) search engine, with faster results and faceted search Not possible to analyse with Optimizely due to complexity Mixpanel data shows Search page to Details page conversion rate increased 1.65%

Слайд 80

Details page redesign Old New

Слайд 81

Auth page redesign Old New

Слайд 82

Conversion rate after redesign

Слайд 83

Project results ● ● ● ● ● 5 months 5 experiments negative 14 experiments positive Total cost 34K NZD (175k NOK) Request funnel conversion rates increased from 2% to 3.3% $490k NZD (2.5M NOK) est. annual revenue increase

Слайд 84

Thanks! Any questions? You can find me at: @espengrimstad [email protected]

Слайд 85