segment. personalize. optimize - by chris goward

Tweet this: @chrisgoward #Awesome

Segment, Personalize, Optimize

Unlock your brand's growth potential with a winning

process

Before we get started. . .

• This presentation deck and recording will be

available to you after the webinar

• Use the General Chat panel to ask questions

or make comments in real time

• Stay to the end for the chance to win a free

digital copy of You Should Test That!Type question here

• Developed the LIFT Model®, PIE Framework, and Infinity

Optimization Process™

• Keynotes at conferences and seminars around the world

• Author of You Should Test That! (Get a free chapter at:

YouShouldTestThat.com)

Chris Goward, Founder & CEO, WiderFunnel

Charles Brun, Channel Director, Dynamic Yield

• Handles Dynamic Yield’s partnerships for all of North America

• Started a leading e-commerce conference in Canada

• Works with some of the top brands in retail to assist with

personalization and optimization

Tweet to: @chrisgoward #Awesome

ABOUT DYNAMIC YIELD

Dynamic Yield helps marketers increase revenue by personalizing each

customer interaction across web, mobile web, mobile apps and email.

THE DYNAMIC YIELD FAMILY

TRUSTED BY THE WORLD’S LEADING COMMERCE

BRANDS

AND ACROSS MULTIPLE INDUSTRIES

DATA AND ACTIVATION IN A SINGLE PLATFORM

DATAACTIVATIO

Tweet to: @chrisgoward #Awesome1981

• 30+ optimization experts with clients globally

• The best optimization process, experts and results

What’s the best button color?

What’s the average conversion rate in my

industry?

Average conversion rates are meaningless.

Switzerland on average is flat.

The marketing customization spectrum

Mass Segmentation Personalization

Relevance: This social proof is

not specific to their location.

Personalization ideas are hypotheses

until they’re tested

State segmented results range:

-60% to +70%

+7.34% Revenue Lift

The LIFT Model™

(Note: For more info, google “WiderFunnel Lift”)

AnxietyDistraction

RelevanceClarity

Urgency

Personalization helps solve a Relevance

problem

But personalization programs often fail.

• Ad hoc implementation of off-the-shelf

features

• Lack of rigorous A/B testing process

• Poor customer insights

• Uncoordinated and inexperienced teams

• Lack of resources to sustain multiplying

variables

Why do personalization programs fail?

Expert optimization

Proven optimization

process

Meaningful customer insights

The three success factors

What makes a great

optimization process?

Proven

Quantitative

Logical

Intuitive

Qualitative

Inspired

FuzzyYang

The best optimization process

delivers inspiration and proof.

Infinity Optimization Process

Explore

Views data through the

lens of the customer

experience.

Explore

Start with existing knowledge

about the business context

Who you’re talking to

PersonasProduct interestBuyer journey stageSeasonalityInfluencers / decision-makers

How you identify them

Search termsAd campaigns & offersGeographic IPBehavioural triggersRetargeting cookiesCRM customer value

Personalization Opportunities

Advanced personalization

moves beyond existing knowledge

Existing Knowledge Insights

New Research Insights

Automation

Three types of personalization insights in your

1. Self-selectedHow can I gather information directly from my users?

2. Deductive How can general theories apply to this situation?

3. Inductive Which behaviours show patterns and general insights?

Self-Selection Personalization:

Ask your prospects to tell you about themselves.

Then, test the best marketing approach for each segment.

I have early stage disease.

I have late stage disease.

I manage the disease while working.

I am a physician treating the disease.

I work at a hospital treating the disease.Healthcare

Company

You Should Test:

1. What are the best segments?

2. What are the best offers for each

segment?

Healthcare

Company

Result:

A series of A/B tests that

more than doubled their lead gen conversion rate

Deductive Research:

Find a persuasion principle that may apply and

test whether it works in this situation.

Self-consistency Bias

We like to keep consistent with what

we think, say and do, and will change

to ensure this is so.

- Cialdini, Influence.

(2006)

Cognitive Dissonance

A mental stress experienced when a

person holds contradictory beliefs, or

acts in contradiction to existing

beliefs.

- Leon Festinger

(1957)

Conversion Rate: +1.97%

Average donation value: +3.07%

Revenue per visitor: +5.10%

14% of visitors

68% of donors

86% of visitors

32% of donors

Selected

“Regular Donor”

Selected

“Occasional Donor”

Selected

“First Time Donor”

Non-Responders

Now, we’re building on these insights to

deliver Personalized data-informed

experiences.

Where do these ideas come from?

The Explore process generates

an unending stream of them.

Explore

Inductive Research:

Analyze segments within your test results

for personalization insights.

• Disaster relief

organization

• Entering tax donation

season

Goals• Lift donation conversion

rate and average

donation value

Relevance: Headline does not mention

“donation”

Clarity: Eye flow is disjointed with mis-aligned

content

Clarity: Start of form is pushed down the page

Value Proposition: Lowest donation amount

pre-selected

Clarity: 2-column form

Clarity: cc number and billing information are

separated

Anxiety: Many fields shown at once

Value Proposition: No testimonials for

credibility

Clarity: No hover state on the CTA

Variation A – Long Copy

Variation B – Form Focused

Variation C – Momentum

Which one won?

Overall winner

12.4% Donation

Revenue Lift

During Typhoon Haiyan Crisis

X 15.7%

Donation Decrease

Validate

Confirms and creates

new insights using

rigorous A/B testing.

Validate

Results analysis for

insights is extremely

important.

For ‘Search Campaign’ Segment

10.6% Donation

Revenue Lift

For ‘Search Campaign’ Segment During the Crisis

42.1% Donation

Revenue Lift

Infinity Optimization Process

Expert optimization

Proven optimization

process

Meaningful customer insights

The three success factors

Learn how to build the best personalization strategy

Get the new 45-page guide

“Mastering Personalization”

Send an email to:

iwant@WiderFunnel.com

Subject: Personalization Guide

Please!

Profitable ‘A-ha!’ moments everyday.™

segment. personalize. optimize - by chris goward

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