9 cro hacks to accelerate the b2b funnel
TRANSCRIPT
9 CONVERSION RATE OPTIMIZATION HACKS TO ACCELERATE THE B2B FUNNELThursday, May 25th at 1PM ET/10AM PT
SABRINA GILMORE KOCHANSKI
Director, Client Services & Business DevelopmentLAUREN BLECHER SCHERBA
Director, Marketing
WE OPTIMIZE LEAD FLOW FROM
CLICK
TO
CLOSETO DRIVE MORE SALES-QUALIFED LEADS FROM DIGITAL.
DEMANDWAVETHE B2B DEMAND GENERATION AGENCY.
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Founded in 2004, we are digital veterans with a passion for demand generation.
We drive revenue growth for the best in B2B.
DemandWave is a trusted Google Partner, a two-time winner of the Inc. 500|5000 list, and a two-time member of the San Francisco Business Times’ 100 Fastest Growing Private Companies.
We’ve earned our stripes.
?WHAT IS CONVERSION RATE OPTIMIZATION?
“Conversion rate optimization (CRO) is the process of increasing the percentage of conversions from a website or mobile app. CRO typically involves generating ideas for elements on your site or app that can be improved and then validating those hypotheses through A/B testing and multivariate testing.
OPTIMIZELY, “OPTIMIZATION GLOSSARY.”
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Small changes can yield big returns.
Source: Kissmetrics, “100 Conversion Optimization Case Studies.”
Changing the hero image to feature a real person increased signups by 102.5%!
Let’s all do conversion rate optimization!
That’s it?
Not so fast.Conversion rate optimization is a tough job.
41% of companies do not have a person or department accountable for optimization efforts.Source: ConversionXL, “The 2016 State of Conversion Optimization Report.”
Not so fast.Conversion rate optimization is a tough job.
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Statistics
User experience
Tech skills
Copywriting
Analytics
Qualitative research
But, true conversion rate optimization is worth it.
Taking a scientific approach to our client’s landing page testing reduced cost-per-lead from $400 to $30. That’s a 92.5% improvement in cost efficiency.
Another client saw a 120% increase in lead volume after implementing a new mobile homepage call-to-action.
3 MAJOR STEPS TO BUILDING A CRO PLAN.
That’s right, you can only choose one.
1. Define your most important goal.
Pre-requisite: Make sure you have a dedicated landing page for this call-to-action.
1. Define your most important goal.
Benchmark current website performance so you have something to test and measure against.
2. Know the status quo.
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Traffic volume (paid and organic)
Click-through rate
Typical user path
Bounce rate
Landing page conversion rate
Page load speed
Don’t forget to benchmark by device, as well.
Be patient. Don’t short change your test.
3. A/B test for continuous improvement.Let’s walk through the three components of a true A/B test.
3. A/B test for continuous improvement.
Source: Kissmetrics, “100 Conversion Optimization Case Studies.”
Test one element at a time and send equal traffic to both variations. Measure which version yields the highest conversion rate.
Be patient. Don’t short change your test.
3. A/B test for continuous improvement.Let’s walk through the three components of a true A/B test.
3. A/B test for continuous improvement.
Tests must reach at least 95% statistical significance. It’s also a good idea to run each test for at least a week.
Don’t get lost in a sea of data. Tie all tests back to your most important KPI.
3. A/B test for continuous improvement.
9 CRO HACKS TO START TESTING TODAY.
Be patient. Don’t short change your test.
3. A/B test for continuous improvement.This includes color, design, placement, and copy.
A/B Test #1: Call-To-Action Button.
Source: Kissmetrics, “100 Conversion Optimization Case Studies.”
Changing the CTA button to red increased conversions by 21%!
Be patient. Don’t short change your test.
3. A/B test for continuous improvement.A/B Test #2: Hero image.
Source: Kissmetrics, “100 Conversion Optimization Case Studies.”
Changing the hero image to feature a real person increased signups by 102.5%!
Be patient. Don’t short change your test.
3. A/B test for continuous improvement.What information is truly necessary to qualify a lead?
A/B Test #3: Number of form fields.
Source: ConversionXL, “100 Conversion Optimization Case Studies.”
Compare HubSpot’s 12 fields to 15Five’s single field. Test to find the right approach for your brand.
Be patient. Don’t short change your test.
3. A/B test for continuous improvement.Test using progressive form fields or a progress bar.
A/B Test #3: Number of form fields.
Information we already have is prefilled. New sales-qualifying questions are presented for each return visit.
Be patient. Don’t short change your test.
3. A/B test for continuous improvement.Test benefit vs. question vs. risk.
A/B Test #4: Headline copy.
“The 9 CRO Mistakes Costing You Sales", or “Are you Making These 9 Common CRO Mistakes?”
Be patient. Don’t short change your test.
3. A/B test for continuous improvement.Copy length matters. Is there too much detail or not enough?
A/B Test #5: Body copy length.
Source: Instapage, “The Best Times to Use Long Form Landing Pages.”
Crazy Egg’s long form challenger was 20 times longer than the control, but increased CVR by 365%.
Be patient. Don’t short change your test.
3. A/B test for continuous improvement.Highlight awards and client testimonials. Which are the most effective?
A/B Test #6: Trust Symbols.
Source: Marketo.com
Client logos for Marketo’s Technology Solutions page compared to...
Be patient. Don’t short change your test.
3. A/B test for continuous improvement.Highlight awards and client testimonials. Which are the most effective?
A/B Test #6: Trust Symbols.
Source: Marketo.com
Client logos for Marketo’s Higher Education Solutionspage.
Be patient. Don’t short change your test.
3. A/B test for continuous improvement.How will a landing page chat box impact conversion rate?
A/B Test #7: Live chat.
Source: Neil Patel, “How to Boost Your Conversion Rate by 45% with Live Chat.”
Be patient. Don’t short change your test.
3. A/B test for continuous improvement.Will a video add value or merely distract the user?
A/B Test #8: Explainer video.
Source: Instapage, “The Medium Is in the Message: 20 Video Landing Page Example.”
Viewers are anywhere from 64-85% more likely to buy after watching a product video.
Source: Kissmetrics, “Can Product Videos Increase Conversion Rates?”
Be patient. Don’t short change your test.
3. A/B test for continuous improvement.This includes color, design, placement, and choice structure.
A/B Test #9: Pricing presentation.
Source: Kissmetrics, “100 Conversion Optimization Case Studies.”
In this case, adding the price to the landing page doubled lead acquisition.
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Benchmark current site performance and identify bottlenecks.
Commit to continuous improvement with CRO.
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4 Make a plan to A/B test one change at a time.
Ensure CRO is a properly resourced marketing priority.
Talk to our team to start driving more sales-qualified leads today.
Build a better pipeline with smart CRO.
800.619.1570 [email protected]