Optimization: A discussion about an e-commerce company's 500% sales increase

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Information about Optimization: A discussion about an e-commerce company's 500% sales...
Business & Mgmt

Published on May 16, 2013

Author: marketingsherpa

Source: slideshare.net

Description

How was a one-man team able to use a radical redesign to achieve these radical results? Thanks to the power of compounding multiple wins over time, Steve Parker saw big results.

This webinar will cover:

-The first step to a 500% sales increase was a 3,566% increase over the control page. Clearly, Steve didn’t stop there. Hear his thoughts on the next step to take after such a big win.

-What a 15% increase from a button test taught Steve

-How a to get a better grasp of consumer thinking, which, for Steve, led to a 46% conversion rate increase on a homepage

Watch all the video replays from past webinars!www.marketingsherpa.com/webinars

A discussion about an e-commerce companys 500% salesincreaseOptimization

Today’s presentersDaniel BursteinDirector of Editorial ContentMECLABS@DanielBursteinSteve ParkerVice President, Direct Marketing DivisionfirstSTREET

Join the conversation#SherpaWebinar

PPC Marketing: Two accidents reduce cost-per-lead 20% –http://www.marketingsherpa.com/article/case-study/ppc-marketing-reduce-lead-costThe WOW! Computer: How firstSTREET applied a radical redesign to deliver a 500%sales increase (video) – http://www.marketingsherpa.com/video/optimization-summit-2012-wow-computerLanding Page Optimization: Radical redesign leads to 3,566% increase in conversion –http://www.marketingsherpa.com/article/case-study/radical-redesign-leads-to-3566Optimization Summit 2013, May 20-23, 2013, Boston –http://www.meclabs.com/training/marketing-summit/optimization-summit-2013/overviewFree Excerpt from the Website Optimization Benchmark Report –http://meclabs.com/training/publications/benchmark-report/website-optimization/free-excerptFurther Resources

Results500% Increase in sales

BackgroundCurrentVice President, Direct Marketing Division, firstSTREETPreviousSVP, Marketing, MyPointsDirector of Category Management & New ProductDevelopment, Keebler CompanySenior Brand Manager, Kayser Roth Hosiery

• Little budget• Little time• No coding or graphic skillsSteve’s Resources

Time for the audience to commit• Write down the one best thing you learn from thenext 30 minutes• What one action will you commit to taking in thenext 5 business days to put this learning into action?Tweet it on #SherpaWebinar to motivate yourself tofollow through and commit

C = 4M + 3V + 2(I-F) -2A• Navigation options• Sub-header copy• Image on left or right• Longer copy• Different copy• Guarantee seal vs. words• Incentive and ROI• Minimize anxiety• Thought sequenceOops!

Experiment: Control

The Redesign“firstSTREET meets Apple”• Where, What and Why answered• Big visuals, big type (old eyes)• Thought sequence sub-headings(benefit phrasing)• Strong call-to-action (“Get yourWOW! Computer. Easy. Safe.Guaranteed.”)• Incentive and ROI• Minimize anxiety• Long page layout

The Redesign

The ResultsIt’s a winner!• Crushed a veryweak controlUp 3,566%• Conversion ratenow acceptablein the absolute• I love testing!

The Party’s Over - More Testing…Price and the Thought Sequence:Which version won – A, B or C?Control wins in a landslide!• It’s what they want to know• It’s not what I want to tell themjust yet

Removed Easy &Simple and It’sPowerfulandNo duplicatedimages on pg.Removed Easy &Simple, It’sPowerful, andIt’s a TouchScreenandNo duplicatedimages on pg.Thought Sequence, RevisitedHow much is too much?• Test content length• Balance controllingunsupervised thinkingwith not “shutting up”

Thought Sequence, RevisitedWinner is ‘B’• New control• Big Earning:– Up 46%• Big Learning:– Better grasp ofwhat ourconsumer isthinking

“Where Am I?” Revisited• Vast majority of traffic from print ads and catalogs• Added control print ad headline to top of homepageWhich version won? Vote now…

Learn to test, analyze, and optimize your entiremarketing funnel online

Where Am I, RevisitedWinner is ‘B’• 48% increase inengagement• Conversiontracking failed– 30% Add-to-Cart gain(validated)

Compounding SuccessEinstein said the compounding power ofmoney is the 8th Wonder of the World• PessimistWhat a difference a year can make…• Initial sales rate per period 10• Original site testing gains 30% 13• Radical Redesign (only counting 1X) 100% 26• Price disclosure no gain 26• Add-to-cart buttons 15% 30• Thought sequence 46% 44• Headline test 30% 57Over a 5x increase in one year…and still growing!

Top Three Takeaways1 Apply what you’ve just learned23It’s OK to fail a lot along the wayOptimization is tribal – find your peers

Today’s presentersDaniel BursteinDirector of Editorial ContentMECLABS@DanielBursteinSteve ParkerVice President, Direct Marketing DivisionfirstSTREET

#sherpawebinar presentations

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