3 Strategies for Prioritizing A/B Tests for the Highest Impact

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Which A/B tests you should you focus on in order to maximize revenue on your Ecommerce site? We will show you the most common ways to prioritize your A/B tests as well as ways to identify opportunity and pain points for your site.

Transcript of 3 Strategies for Prioritizing A/B Tests for the Highest Impact

  • 3 Strategies for Prioritizing A/B Tests for the Highest Impact
  • Conversion optimization is one of the key techniques to getting the most out of your traffic.
  • Even a marginal improvement to conversions can dramatically affect your revenue.
  • The issues ofwhat to test andwhenare critical to developing a strategic approach to A/B testing for Ecommerce marketers.
  • Every test you run has an opportunity cost.
  • If your efforts do not target the areas with the highest possible impact
  • then you are not getting as much out of your tests as you should.
  • So ! Wheres the money?
  • Take your conversion funnel
  • and turn it upside down.
  • The upward pointing triangle youre looking at corresponds to the expected value of each user in the funnel based on their probability of purchasing.
  • More accurately, the expected value of each user is equal to the probability of converting times the value of the items in the cart.
  • As they move closer to checkout, they signal their intent to continue with the purchase.
  • This method of visualization demonstrates the value to be gained by testing the areasclosest to the money.
  • Even a small improvement to the checkout process can make a significant increase to your revenue.
  • Okay, lets turn the conversion funnel back around.
  • Okay, lets turn the conversion funnel back around.
  • The top of the funnel can be seen as thepersuasiveend.
  • Only the most deliberate of shoppers will focus wholly on purchasing what they came to the site for.
  • Only the most deliberate of shoppers will focus wholly on purchasing what they came to the site for. Those who clicked your site at a time when they werent ready to begin shopping will bounce.
  • Only the most deliberate of shoppers will focus wholly on purchasing what they came to the site for. Those who clicked your site at a time when they werent ready to begin shopping will bounce. The vast majority of users at this point still need to be persuaded to buy from you and move forward with their purchase.
  • You have their attention, but now you need their interest and desire.
  • The bottom of the funnel is theactionend. This is where the intention to purchase is put to the test.
  • The timeliness and fit of the checkout experience with the users context is the most important factor here.
  • The timeliness and fit of the checkout experience with the users context is the most important factor here. Things that they are concerned about will be further deliberated at this stage.
  • The timeliness and fit of the checkout experience with the users context is the most important factor here. Things that they are concerned about will be further deliberated at this stage. The users will keep mentally weighing whether the purchase is a good idea based on a multitude of factors.
  • What methods are most commonly used for prioritizing A/B tests?
  • Prioritizing based on perceived opportunity
  • Prioritizing based on perceived opportunity Test based on the expected impact of the changes on conversion rate and other key metrics.
  • Prioritizing based on perceived opportunity Test based on the expected impact of the changes on conversion rate and other key metrics. This includes changes to template pages that can have a site-wide impact.
  • Prioritizing based on pain points
  • Prioritizing based on pain points Pain points include: Unexpected heatmap activity, lower than normal metrics, or other data uncovered suggesting a problem.
  • Prioritizing based on pain points Pain points include: Unexpected heatmap activity, lower than normal metrics, or other data uncovered suggesting a problem. See the top % Exit pages on Google Analytics for the most obvious areas of improvement.
  • Prioritizing based on increases to revenue per customer
  • Focus exclusively on increasing order value per customer. Prioritizing based on increases to revenue per customer
  • This means identifying areas where upselling may occur and facilitating browsing and product discovery. Prioritizing based on increases to revenue per customer Focus exclusively on increasing order value per customer.
  • This means identifying areas where upselling may occur and facilitating browsing and product discovery. Time on site is a key metric for this. Prioritizing based on increases to revenue per customer Focus exclusively on increasing order value per customer.
  • What are the best strategies for identifying opportunity and pain points in your store?
  • Funnel bottlenecks
  • Funnel bottlenecks Map out your conversion funnel and find the bottlenecks (the pages with the lowest micro-conversions).
  • Funnel bottlenecks Map out your conversion funnel and find the bottlenecks (the pages with the lowest micro-conversions). If youre using a common URL slug for various page types, you can figure this out in Google Analytics.
  • Funnel bottlenecks Map out your conversion funnel and find the bottlenecks (the pages with the lowest micro-conversions). If youre using a common URL slug for various page types, you can figure this out in Google Analytics. Otherwise, plot the data in Excel to figure it out manually!
  • Rank pages by traffic vs. conversion rate
  • Rank pages by traffic vs. conversion rate Sort your product pages by the highest traffic and lowest converting product pages.
  • Test closest to the money
  • Test closest to the money Testing closest to the money can have thehighest impacton your bottom line.
  • Test closest to the money Testing closest to the money can have thehighest impacton your bottom line. Start with your checkout andmove backwards through the process
  • Test closest to the money Testing closest to the money can have thehighest impacton your bottom line. Start with your checkout andmove backwards through the process This will allow you to see the most direct improvement in conversions and revenue.
  • Although the above strategies will help increase your conversion rates, find out why A/B testing is not enough. Download the Free Whitepaper!
  • Questions? Connect with us: Visit our blog for more Ecommerce strategies: