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Landing Page Optimization: What a 4% drop in conversion can reveal about offering discounts

December 18th, 2014 No comments

Discounts can be tempting to use as a tool to increase your sales volume.

There are plenty of cases where incentives have been successful; however, one caveat to consider is they also come with their own set of consequences.

When the dust settles and the results are in, every marketing team has to determine one thing:

Are discounted product offers always the optimal choice for a price point strategy?

That’s a question one large media company recently posed in their testing efforts that I wanted to share in today’s post to help you learn more about the potential impact of discounts on the bottom line.

Before we dive in any further, let’s look at the background on this experiment.

Background: A large media company offering various subscription products.

Goal: To determine the optimal pricing point after the introductory rate.

Research Question: Which price point will generate the greatest return?

Test Design: A/B split test

Control 

 

In the control, customers are presented with an offer of “50% off Home Delivery for 12 Weeks with free digital access.”

 

Treatment 

 

In the treatment, a triggered lightbox was added and designed to pop-up, offering an incentive for an additional four week discount of 50% if the order was not completed within a certain time frame.

 

Results 

 

The treatment saw a 4% drop in conversion rate that validated at a 94% statistical level of confidence.

 

What you need to know

Discounting can dramatically decrease the perceived value of an offer. Marketers definitely want to be careful not to damage the long-term value of an offer with gains earned via a short-term discount.

This is why I also refer to discounts as the hindsight incentive — their true impact is often assured only after the dust has settled and the damage to your brand is already done.

If you’re interested in learning more about incentives impact price, you can check out the newly released Web clinic, “Maximizing Subscription Revenue.”

 

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Landing Page Optimization: Leveraging perception to tip the value scale (Part 2)

October 13th, 2014 No comments

Last week, I wrote about the importance of considering the value exchange scale in your marketing campaigns. I explained how increasing the perceived value of a product to your consumer can transform something as simple as a rock found in your backyard into the must-have toy sensation of the season — the Pet Rock.

This week, I’m going to share some more tactics to use this scale to impact your marketing efforts, but I must warn you, things are going to get a little deeper. I recommend reading last week’s article before you proceed.

Just to recap, Value Force is what your consumer thinks your product is worth, while Cost Force is the price that you, the marketer, salesperson or company, are charging for the same product.

When, in the mind of your consumer, Cost weighs more than Value, the prospect will say “no” to your offer. However, when the Value of your product weighs more than its Cost, you may receive the coveted “yes.”

Sounds simple, right? Let’s take another look at the value exchange scale: 

 

We’re going to assume that for this hypothetical marketing case, both Value and Cost are weighted equally. Given this scenario, how can we affect the scale without directly adding to or subtracting from the Value Force or the Cost Force? It may help to think a little bit out of the box for this one. Let’s ask some “what if” questions:

What if the triangle moves to the left, like in the picture below?

 

Read more…

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Landing Page Optimization: Leveraging perception to tip the value scale (Part 1)

October 9th, 2014 3 comments

In an experiment with a B2B company, we split tested two landing pages against each other. Let me give you a brief background on the test, and then, I invite you to guess which landing page produced the most leads.

 

Background

This B2B company wanted to promote one of its thermal imaging cameras by creating a downloadable guide where people can enter personal information on a landing page registration form and then get access to a product guide download that will help them choose which thermal imaging camera to purchase.

Which landing page do you think generated the most leads in this experiment?

Once you do choose one, try and think why one performed better than the other. I will share the results with you after the creative samples below:

 

The control

 

The treatment

 

Which landing page do you think won?

Read more…

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Landing Page Optimization: 5 factors that lead to (and prevent) conversion

August 18th, 2014 1 comment

Anytime we share research about overall conversion rate benchmarks, I give the same caveat – while it’s helpful to understand conversion rates for your peers, the bigger question you must ask yourself is how to improve conversion rates on your own landing pages and in your own funnels.

 

Is there a methodical way to increase conversion?

While marketing has tended to be dominated by the marketer with the “golden gut” or the star direct response copywriter, other disciplines in the enterprise – from manufacturing to IT – have developed methodological processes to improve quality and consistency.

The MECLABS Conversion Sequence Heuristic is an attempt to bring the same discipline, rigor and sustainable success to the marketing department. It is part of a patented repeatable methodology (patent number 8,155,995) developed by Flint McGlaughlin, Managing Director, MECLABS (parent company of MarketingExperiments), based on years of testing and research of real product and service offers presented to real customers.

conversion-sequence-heuristic

 

For long-time MarketingExperiments readers, you might be very familiar with the Conversion Sequence Heuristic and have, hopefully, been using it to improve conversion in your own tests. (If so, let me know. We’d love to share those results to inspire other marketers.)

But since the Conversion Sequence Heuristic helps more new marketers discovering it for the first time every year, it helps to occasionally revisit this fundamental approach to marketing every now and again.

Read on for a cursory look at the factors that affect conversion, and if you’d like a more in-depth understanding of how you can apply this heuristic to your own landing pages and marketing efforts, you can take the Landing Page Optimization Online Course.

 

Probability of conversion

The Conversion Sequence Heuristic is not an equation to solve. Rather, it is a heuristic, or thought tool (i.e., really cool checklist) to use as you work on landing pages and other marketing offers.

You can never guarantee conversion, but by making (sometimes subtle) changes to the right areas, you can increase the probability of conversion. This heuristic helps you identify those key areas.

 

Motivation of user

The numbers in front of the different elements of the heuristic indicate how much they impact the probability of conversion. All of the elements are not equal.

The motivation of the user is the single most important factor affecting conversion.

To see why, let me give you a simple example using myself as the customer. I am a huge Pearl Jam fan. If Pearl Jam came to Jacksonville, Fla., I would find a way to be at the concert, even if their ticket selling process, sales funnel and landing page were not optimized. I am highly motivated.

The motivation of the user is also the only element of the Conversion Sequence Heuristic that you cannot change. It is intrinsic in your potential customers.

You can, however, gain an understanding of your potential customers’ motivations to better tap into those natural motivations and better serve your ideal customers while improving conversion.

Read more…

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5 Traits the Best Calls-to-action All Share in Common

August 7th, 2014 6 comments

One of the most common questions we receive at MarketingExperiments about optimization is, “What is it that actually makes a call-to-action effective?”

In truth, there are a lot of factors to consider, so in this post, we’ll take a look at five traits the best CTAs all seem to share in common based on our testing research.

 

Trait #1. Alignment

principle-of-alignment

According to Jon Powell, Senior Executive Content Writer, MECLABS, alignment is when “a call-to-action needs to be aligned to a specific customer need or desire. And what I mean by that is, do they like the color blue or do they like the color red?”

In the example above, the original CTA assumed customers will find value in understanding their problem. However, the treatment call-to-action tested to discover if customers find more value in a proposed solution.

In this case, the treatment increased clicks 7% and conversion 125%.

 

Trait #2. Timing 

 

Great CTAs are delivered in a conversation with customers at just the right time. In the experiment above, you can see where the CTA was located in the control and treatment, which indicates how timing plays into effective CTAs.

The control page presented arriving customers with a CTA almost immediately.

In the treatment, the CTA was moved to a time-delayed pop-under. The problem for these customers was they missed the opportunity to convert interest into action, which explained why the treatment decreased conversion 29%.

 

Trait #3. Absorption 

principle-of-absorption

 

Effective CTAs are easy for the customer to absorb as they are scanning the page. They are highly intuitive for customers to understand and engage with.

Here’s what absorption looks like in a real-world CTA test.

In the control, the MECLABS research team hypothesized the primary CTA for creating an email alert was difficult to clearly see in the design that used the small bell icon to imply notification functionality.

The treatment design was adjusted to ensure customers would see the opportunity to create a free alert, resulting in a 2,793% increase in email alerts created.

Read more…

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Stock Images Tested: Does ethnicity in marketing images impact purchases?

August 4th, 2014 5 comments

Does ethnicity in marketing images affect a campaign’s performance?

Besides being an important marketing question, it’s also an interesting social question.

The MECLABS research team asked this question because they needed to find the best performing imagery for the first step in the Home Delivery checkout process for a MECLABS Research Partner selling newspaper subscriptions.

The test they designed was simple enough:

Background: Home Delivery ZIP code entry page for a newspaper subscription.

Goal: To increase subscription rate.

Research Question: Which design will generate the highest rate of subscriptions per page visitor?

Test Design: A/B variable cluster split test

 

Control: Standard image of newspaper on welcome mat

ethnicity-test-control

 

Treatment 1: Stock image of African American man reading newspaper

ethnicity-test-treatment1

 

Treatment 2: Stock image of older Caucasian couple reading newspaper

ethnicity-test-treatment2

  Read more…

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