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Tweet with us @VeUnitedStates @avangate @WPS_Office #Display2Sale
Connect with us - Live
We are recording this webinar for later playback and sharing
Use the question panel in GotoWebinar to ask questions
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?