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Posts Tagged ‘Value Proposition’

Email Marketing: Copy test increases clickthrough 37%

July 24th, 2014 3 comments

Converting attention into interest is really the sole purpose of copywriting.

How you approach that task in your marketing efforts can make a huge difference in the results.

In this MarketingExperiments Blog post, we’ll look at how some tactical copy changes increased one company’s clickthrough rate by 37% to help you craft effective copy of your own.

But first, here are a few snippets on the test.

 

Background: Company selling audio equipment and accessories.

Goal: To increase clickthrough rate.

Research Question: Which email copy approach will generate the highest clickthrough rate?

Test Design: A/B/C variable cluster split test

 

Controlemail-copy-test-control

 

In the control, the MECLABS research team hypothesized the email utilized a headline that was not immediately clear, thus undermining the value of the offer.

 

Treatments 

email-copy-test-treatments

 

Here is a simple breakdown of the differences in the treatments:

  • Treatment 1′s email tweaked the headline to focus on the aesthetics and performance value of the product.
  • Treatment 2′s headline was centered on the overall value proposition of the product.

 

Results

email-copy-test-results

 

While both treatments produced a lift, Treatment 2 saw the highest with a relative increase in clickthrough rate of 37%.

 

What you need to understand

The copy in emails is often subdued to a lot of outside artificial pressure.

There’s pressure in marketing to be unique, clever and any other adjective you can think of here that fits.

But there is only one pressure that should matter to you – delivering value.

If you craft copy that is relevant, direct, and most importantly, honest about what your products claims it can offer customers, then you are well on your way improving performance.

Want to learn more about the importance of email marketing and its role in conversion? According to the MarketingSherpa Ecommerce Benchmark Study, email is one of the biggest drivers of traffic to a website. Download your complimentary of the study for more insights from your peers on how they are leveraging channels to drive conversion.

 

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Value Proposition: 4 key questions to help you slice through hype

July 21st, 2014 1 comment

I was originally going to write this blog post to help marketers spot hype in their green marketing claims.

But then, I had an epiphany.

Why focus exclusively on green marketing that may have gone awry at the fringes?

Hype in marketing is far from exclusive to the green crowd and honesty is needed in every claim your marketing makes.

I decided to think a little bigger – much bigger – by sharing four key questions you should ask about any marketing claim to help you slice through hype and deliver true value to customers.

 

Question #1. Is our claim tangible? 

value-tangible

 

Our senses love being rewarded, so if your claim offers tangible value, the nature of it should connect directly to the customer experience.

For example, let’s look at the copy above from a recent experiment on green marketing.

The “green value” is in the nature of the manufacturing process and is directly connected to the quality of the product.

This leaves one more thing to consider when crafting tangible claims: Does the nature of the claim actually make the end product more appealing?

 

Question #2. Is our claim relevant to customers’ needs?

relevant-claim

 

I like these examples because all of them, while noble in cause, do not directly connect to a relevant problem a customer is having.

For example, I live in Florida and my desire to avoid sunburns gives the SPF of a sunscreen a greater relevance to my needs than just about any other claim.

Consequently, this is where focusing on claims that are relevant can mitigate the risk of associating products with ideas or causes that are abstract.

A biodegradable pen is nice to have. A biodegradable pen with 12% more ink than the next guy is even better.

The power of relevance rests in crafting copy that deals directly with any key concerns already present in the mind of a customer.

  Read more…

Copywriting: How to tip the scale so customers act

July 10th, 2014 No comments

When writing copy for promotions, content and advertising, many writers tend to be pulled between two possible directions: creativity on one side, and communication on the other.

How can I be creative and still effectively communicate the ideas I have?

 

Think like the customer

Creativity and communication are not the two opposing forces in the customer’s mind. The customer is weighing these two decisions:

  • What is the value of this?
  • How much will it cost me?

“Essentially the prospect, even if at a subconscious level, engages in elementary math: VfAc - CfAc, which is to say, they subtract the perceived cost force from the perceived value force,” said Flint McGlaughlin, Managing Director, MECLABS, parent company of MarketingExperiments.

This idea is illustrated in the heuristic below to help you see the net force of the value proposition:

 value-proposition-foce

 

You can dive deeper into the above heuristic in the MECLABS Value Proposition Development Course.

In this MarketingExperiments Blog post, we’ll take a look at two key copy elements – one very close to an actual purchase and another much farther up the funnel – and see what value and cost factors the customer might be considering.

 

Key Copy Element #1. Button copy

 

“Select Lodging” vs. “See All Rentals”

 

The button copy on the right achieved a 427% higher clickthrough rate than the button copy on the left.

This was not a single-factor test; other elements were changed on the landing pages that likely affected conversion rate, as well. You can see those in the full MarketingSherpa webinar replay of “Web Optimization: How one company implements an entire testing strategy every day.”

But, this is still a good example of weighing value and cost.

“Select Lodging” subtly implies more cost. The language puts the monkey on the customer’s back. Now, the prospective customer has to take the time to look through different options. Cost is about much more than just money. In this case, the cost is time (a form of mental cost). Of course, this button also implies the cost of actually purchasing the lodging (a form of material cost).

On the flipside, “See All Rentals” implies more value. Nothing is asked of the prospective customer. Instead, there is an offer to the prospective customer. Essentially, the copy conveys there are many rentals for the customer to view.

Read more…

Online Optimization: Testing value prop to grow your tribe

June 23rd, 2014 1 comment

I have a deep respect for the marketers at nonprofits.

How they deliver appeal and exclusivity to donors, in some circumstances, can potentially make or break solvency.

Consequentially, I would argue testing and optimizing value proposition for nonprofits is vital.

In this MarketingExperiments Blog post, we’ll take a look at an experiment from a Web Optimization Summit 2014 presentation from featured speaker Tim Kachuriak, Chief Innovation and Optimization Officer, Next After, on “selling the intangible.”

Before we begin, here are some background notes on the test.

Background: The Heritage Foundation, a think tank located in Washington, D.C.

Objective: To increase the donation conversion rate.

Primary Research Question: How does value proposition affect conversion rate?

Test Design: Radical redesign A/B split test

 

Side by side

donation-page-experiment

 

Here are the control and treatment versions of the donation pages side by side.

According to Tim, the primary focus for his team was gaining a deeper understanding of how value proposition impacts donor behavior.

 

Treatment

treatment-elements-donation-page

 

In the treatment, Tim and the team identified elements on the landing page that would likely have the greatest impact on value proposition:

  • Headline – Deliver value right up front
  • Bullets – Quickly highlight reasons to donate
  • Testimonials – Share third-party sources who are fans
  • Call-to-action – Make intentions for donors clear and easy

 

Results

donation-page-test-results

 

The treatment outperformed the control by 189%.

Fellow optimization fanatics should also take note here that the winner was also a long-copy page with the CTA below the fold.

Read more…

Testing to Find Your Aha Moment for Value Proposition

May 12th, 2014 No comments

The issue Jon Ciampi, Vice President of Marketing, Business Development & Corporate Development, CRC Health, faced is a common one – his team was reaching out to their audience from a marketer’s mindset.

It can be so easy to assume you know what your customer wants, and what they are looking for. The key to discovering your value proposition is to ask the right questions, not just the ones that affirm what you already know. The relationship between marketers and consumers needs to constantly evolve.

Once they re-evaluated the message by testing for customer logic, Jon and his team were able to test and affirm the element that resonated most with customers.

In this short clip from Optimization Summit 2013, see how the CRC Health marketing team came to their “aha moment” for their value proposition that drove a 220% increase in total conversion.

 

“Just giving me more money wasn’t working out, it wasn’t giving me the results we wanted,” Jon said.

That is when the team decided to test for a different approach that unearthed a whole new, smarter approach. When bringing the pre-eminent high-end addiction and mental health rehabilitation facility to market, Jon assumed that people were concerned with facts like the doctor-to-patient ratio, or facility amenities.

“We show them some horses, we show them a pool and nothing about what we do,” Jon said about the original control page.

Jon ended up throwing out the “best practices” they had so religiously stuck by and actually tested them.

For example: Call-to-action above the fold? Why?

In the end, Jon realized that no matter how many tricks of the trade the team put into the page, none of it mattered if they didn’t understand their customers. The “aha moment” was simple – trust was more important to customers than luxury.

Watch the full free session from Optimization Summit 2013 to see how Jon and his team applied that understanding across the board.

Read more…

Hidden Value: What buried treasure are you ignoring in your marketing?

April 24th, 2014 1 comment

Earth Day was Tuesday, which is a great time to remind you that it isn’t eco-friendly to use disposable plastic water bottles. What if you carried a reusable bottle with you everywhere instead?

This type of bland pitch to take care of the Earth’s resources doesn’t tend to be very effective. Sure, you may get the true believers to take action. But the vast middle segment of the population who somewhat care about the environment, but are lazy, likely won’t do anything different. Or, they might try it once or twice and then give up.

 

Shining a light on the hidden value of reusable water bottles

When I spoke recently at the University of North Florida, I noticed a marketing tactic so simple, yet so brilliant, that I wanted to share it with you today as the perfect example of revealing hidden value. Here’s a water fountain I saw at UNF.

water-bottle-refill

 

Now, I admit, I haven’t really kept up on water fountain technology. But you’ll notice how this water fountain is different from when you and I went to college: It has a feature that allows students to refill water bottles with filtered water. But here’s the really brilliant part …

bottle-waste-counter

 

I learned that this model of water fountain is the Elkay EZH2O Bottle Filling Station. There is a counter on each water fountain (which the company calls the Green Ticker) that says, “Helped eliminate waste from 35,403 disposable plastic bottles.”

 

What is hidden value?

This is the perfect example of revealing hidden value. Hidden value is value that your product or service offers a customer, but they don’t know about it because you either:

  • Don’t communicate it
  • Communicate it through your marketing, but it is buried and de-emphasized
  • Don’t track or compile the data at all

I believe that revealing this hidden value, which would have literally just flowed down the drain if the company didn’t track and message it, helped Elkay with two audiences:

  • Water fountain users – By quantifying and showing the amount of trash that was saved, users clearly see how the effort they are making as a community (in this case, university) is actually making a difference. It also adds some social proof, showing that others are taking this action. For example, Elkay has a case study about how a campaign built around this water fountain reduced plastic water bottle consumption by 92% and 350,000 fewer plastic bottles were sent to landfills.
  • Water fountain buyers – A water fountain is a B2B sale. Someone at UNF (and every other institution) had to decide to buy and install these water fountains. By quantifying a number that would have been lost, the purchaser is likely to be able to make an easier case to purchase more of these fountains, essentially showing the ROI to sustainability committees.

  Read more…