Did you know that companies with a structured approach to improving their conversion rate are twice as likely to report large increases in revenue?
We have seen this first hand and know that one of the biggest barriers to successful conversion rate optimisation is a lack of strategy – and 20% of companies agree.
Why do you need a strategy?
Does any of this sound familiar?
- Are you seeing minimal impact from your testing program?
- Are you test-hopping from template to template without structure?
- Are you only running 1 to 2 experiments per month?
- Do you get your optimisation ideas from blog posts or what others are doing?
- Is your optimisation process not written down and documented? (you’re not alone! 37% of companies aren’t, with 20% having no structure to even write down)
A lack of optimisation strategy will do this and, ultimately, result in either inefficiency, minimal or no impact or – most likely – both. A bespoke optimisation strategy gives structure and adds efficiency. You wouldn’t have a finance team without a budget, nor undertake marketing efforts without a plan – in the same vein, you wouldn’t (or shouldn’t) run experiments or conversion optimisation without a structured program.
THIS IS WHAT WE DO
We’ve seen this many times before – wether you are currently testing, efficiently or not, just starting out or haven’t yet begun.
We create, manage, improve and accelerate conversion rate optimisation strategies. We’ve been doing this for years (and learnt a lot in the process!) and you can take advantage of those mistakes, learnings and successes with us.
Our continual refinements in our own optimisation framework with different businesses in multiple industries moves away from quick wins, short-term profiteering and ‘best practice; there’s nothing quite like the consistent impact seen from a tailored optimisation program.
We do this by working within our optimisation framework; our approach to creating and managing a robust optimisation program for you and your team.
We start with objectives.
The staple within a conversion optimisation program is that of setting objectives and targets. Without such metrics, we’re unable to benchmark nor work towards a defined goal. For example, are the metrics for the website more micro (eg. signing up for a newsletter) or macro based (eg. making a purchase)? If both, in what quantity and why? It’s important to understand business metrics that sit outside of average, and often arbitrary, conversion rates such as product values, profit margins, multi-attribution values and how different customer journeys affect the bottom line. In addition, understanding the true value being provided through optimisation with a clear focus on return on investment.
We’re here, not necessarily to increase your conversion rate, but also your average order value, lifetime value and ultimately decrease your cost per acquisition. In addition, we also set conversion metrics which we can benchmark our performance against; metrics such as average conversion uplift per experiment, experiment success ratio number of test run and total revenue uplift (and saving from failed experiments!). These are all important when defining our performance as an agency and truly understanding your return on investment.
It is for this reason that we built our own experiment and analytics dashboard that pulls directly in from Google Analytics.
The initial discovery period of the optimisation process will have led to well over 150+ A/B experiment ideas or direct amends. These are placed within a structured, but flexible, roadmap over a 6 to 12 month period using Trello. The key is to prioritise these, but before we do, we need to ask what are we prioritising for? The objectives of the business should answer this succinctly.
A good optimisation strategy focuses on big wins and incremental improvements that generate insight. In fact, focusing on the latter – those experiments to glean and lead to insight – are often those that are prioritised as the big wins come organically within that process. That’s why the analysis of each experiment is perhaps the most important step of any methodology and looking at silo metrics such as conversion rates just won’t cut it. Ultimately an ongoing, structured optimisation process focused on learnings lead to the biggest wins – not just on your website, but for your business.
When prioritising, we look at what the potential value of the experiment is worth, a subjective priority score out of 10 based on perceived impact and also the previous learnings from A/B experiments. Our experience in knowing what works from previous learnings and hundreds if not thousands of A/B tests will also help in prioritising experiments – meaning you can get the biggest wins more quickly.
The priority of experiments will also help us understand how many experiments to run per month or at any given time. Companies that test more often derive greater rewards from their activities, however will eventually see a law of diminishing returns. It’s important to run concurrent experiments getting attention for non-conflicting metrics.
Understanding what to test, when, and in what order ultimately is the underpin to any successful optimisation program.