testing makes perfect: a case study in onsite optimizations

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Today’s Agenda

Panel Introduction

Deep Dive Into Kingsoft CRO Campaigns & Results

Tips for Optimizing the Digital Commerce Lifecycle

Q&A

Cole ArmstrongDirector, Marketing

Sam SiegelDirector of Account Management

Shannon MacLeodConversion Optimization Consultant

Beth Cohen King, ModeratorDirector, Marketing

Today’s Panel

poor customer conversion rate

Trying to increase sales simply by driving more traffic to a website with a

is like trying to keep a leaky bucket full by adding more water instead

of plugging the holes.

-Bryan Eisenberg, Author Call to Action

The eCommerce Challenge

Spent on paid media

Revenue left in shopping carts

Abandonment rate varies by sector

Based on data from over 10,000 Ve clients

$545 Billion

Sources - Business Insider , eMarketer

$4 Trillion

$$$

69%Finance

70%Software

86%Travel

75%Retail

Natural Return Rate

5%

$$$$$$$$$$$$$$$$$$$$$$$$

Preventing revenue leakageConvert at every step of the digital commerce lifecycle

Kingsoft Case Study

The Challenge: Consumers abandon (price comparison shopping, distraction) No cart converts 100% of the time Attrition is part of the buyer journey, need the right tools to try to

combat The Solution: Create a more proactive and engaging customer experience through the

buyer lifecycle with proactive technology

The Onsite Kingsoft User Experience

Split Test

Variation A Variation B

51%

48%

Email Remarketing CycleSend Email #1

Send Email #2

Send Email #3

Send 20 min post- abandonment

Sent 24 hours post-

abandonment

Convert?

No convert?

Stop sending

Sent 48 hours post-

abandonment

Convert? Stop sending

No convert?

1 2 30.00%

20.00%

40.00%

60.00%

80.00%

100.00%

120.00%

140.00%

100%

111%

125%

Conversions by Template

Email Cascade

13% 11%

Email 1 Email 2 Email 3

Email Cascade

Conv

ersio

n Ra

te In

crea

se

Email Cascade Conversion Increase

Data pulled from June 2015 - November 2015

45%

20%

32%

VeContact

VePrompt

Total Revenue % Uplift

Average Approved/Open Rate

Average Click-through Rate

Average Conversion Rate

34%

49%

39%

55%

Results

What strategies convert best? Exit offers or emails?

How do I know that cart abandonment tools are adding

incremental revenue?

What is a good starting point for optimization? How do I prioritize

optimization ideas?

Key Takeaways

Best practice: Embed promo codes in buy links

Best practice: Let your split test data drive your decision-making

Best practice: Send multiple emails post-abandonment to maximize conversions

Your conversion rate will never be 100%, but there are ways to drastically increase it

› Implementation is 1-3 weeks

› No up-front cost or resources required

› Advanced segmentation and business rules

› 100% pay for performance model

› Integrated reporting through affiliate network

How Do I Get Started?