90% more conversions with a killer value proposition

Increase Conversions with a Killer Value PropositionHow Persuasive Messaging helped 4 Companies Increase Conversions up to 90%

Join the conversation @invesp#invespCRO

Our Founders

Khalid SalehCEO

A recognized expert of marketing strategy, Khalid has been a frequent guest in key media outlets, including CNN, BBC, SKY, France 24, MSNBC, New York Times, National Public Radio, and more. He is an in-demand speaker who has presented at marketing conferences across the globe.

Ayat ShukairyCo-founder, Managing Partner

400+ conversion optimization projects, She has worked with some of the world top brands such as, 3M, O’Reilly, the Special Olympics, Discovery, helping them increase online revenue by creating successful marketing campaigns.

Established in 1974, major educator, publisher, and distributer of technical

books

Test Problems:

1. The pre-product page abandonment rate was high

2. Customer retention was low

3. Lack of community around partner content

Category Page

• Green banner points to the value the site is offering

• Text below is reiterating that value and explaining more about it

The Control

By emphasizing the value proposition through design and content, conversions will increase.

• “The E-book Advantage” pointing to the value and service offered

• Image reflects a person “on-the-go”

• Removed text as banner is self-explanatory

Variation 1

• “Take books wherever you go” message pointing to the advantages offered

• Image reflects a person “on-the-go”

• Removed text as banner is self-explanatory

Variation 2

21

Audience Question:Which design generated the most sales?

0

Side By Side Look

Increase in Website Conversion26%

The Winner

1

• Identifying the right value proposition is one of the most valuable activities marketers can benefit from when optimizing pages.

• The value proposition must be translated into design and copy on your site for real gains.

• The value proposition is not made up of multiple values and messages. It is a single message that expresses the unique value your company offers.

• Incentives can be used to “support” the value proposition.

Why is a Value Proposition so Important?

Competitive Landscape Analysis

Understanding your competitors will help you develop a value proposition that distinguishes your company

Target Market/Persona Creation

How can you create an effective value proposition without first understanding the needs and wants of your customers?

Value Proposition Creation

Audience Question:Which design generated the most sales?

Pop Quiz

1 2

Increase in Website Conversion17.04

%

The Winner

2

Value Proposition is the promise of value you deliver by defining the problem you solve and clarifying why you are better than the alternatives. A compelling value proposition appeals to the customer’s strongest decision-drivers.

Consider this:

• What are the different values your customers gain from doing business with your company?

• Of the different values you offer your customers, where do you excel? What is the ONE area of value that distinguishes you?

• There is a difference between the value proposition for your company and for your product. You must address both.

Value Proposition Defined

1. List of all aspects of your business/products/service: Price, Design, Growth, Savings, Support, Simplicity

2. Create 25 different statements based on the values you deliver to your customers

3. The more specific you are, the better. Think of the “secret sauce” that makes your company unique

1. What is the relevancy of that statement to your customer’s pain or gain?

2. What are the specific benefits (quantified value)?

3. What is the unique differentiation that you present?

4. Measure the statements against the Value Proposition Scale

Crafting The Right Value Proposition

Crafting The Right Value Proposition

Aspects of The Business/Products/Service

Price Design Growth Savings Support Simplicity

Value Proposition Evaluation

Num.

The Value Proposition Statement

The Relevancy Of That Statement To

The Specific Benefits (Quantified Value)

The Presented Unique DifferentiationCustomer’s Pain

Customer’s Gain

01

02

03

04

Value Proposition Scale

Customer need/desire for what you offer(CD)

How exceptional what you offer is(compared to competitors)

(OE)

High (CD) & Low (OE) Needs development

High (OE) & Low (CD) Needs development

Low (OE) & Low (CD)Must Improve

High (OE) & High (CD)Success

0 1 2 3 4 5

0

1

2

3

4

5

Audience Question:Which design generated the most sales?

Pop Quiz

1 2

Increase in Website Conversion55.56

%

The Winner

1

• You can’t develop an effective value proposition without: really understanding and gauging your market needs + testing.

• The two skills needed to leverage the power of a value proposition :

• Identify an effective value proposition.

• Express that value proposition throughout site.

• The value proposition serves as a guide for decisions in any business strategy.

• “The most effective advertising a company does is the way it conducts business.”

Marketing Insights

1. Measure it against the scale.

2. Test it on your site in many forms.

3. Another test: remove your site logo and slap your competitor name on your site – does it work? Do they offer the same value as you?

Test Your Value Proposition

Audience Question:Which design generated the most sales?

Pop Quiz

1 2

Increase in Website Conversion90.67

%

The Winner

2

What to Do With Your Value Proposition

Once you’ve crafted the perfect value proposition, you must apply it across the pages on your site. This can be done through:

• Evidentials  – like Benefits.

• Brand stories – like testimonials.

• Graphical elements.

Evidentials

But this

Not this,

Brand Stories

But this

Not this,

Graphical Elements

But this

Not this,

Test Problems:

1. A combination of a low product page effectiveness rate with a high average time spent on the page.

2. Too many competing product options were presented to the visitor.

Bookstore: Product Detail Page

• Value proposition could use more clarification to enhance trust and confidence

The Control

Enhancing value proposition through copy to match visitor expectations will lead to increased conversions.

• CTA in close proximity to product image.

• Including wording about “Our Promise” which drilled the value proposition

Variation 1

Increase in Website Conversion18.67

%

The Winner

• Identifying the right value proposition is one of the most valuable activities marketers can benefit from when optimizing pages.

• Value proposition is the promise of value you deliver by defining the problem you solve and clarifying why you are better than the alternatives. A compelling value proposition appeals to the customer’s strongest decision-drivers.

• The more specific you are, the better. Think of the “secret sauce” that makes your company unique

• “The most effective advertising a company does is the way it conducts business.”

• The value proposition serves as a guide for decisions in any business strategy.

Value Proposition Summary

More information

Amazon.com

Looking to increase your conversions?The Conversion Framework™ brings a unique methodology to marketing optimization, generating repeatable and sustainable increase in conversion rates.

3,000+ Test plans , 400+ partners, 11 different countries

• Learn more how we can work together:• Select “Partnership Opportunities

to Increase Conversion Rates” on webinar survey

• or email convert@invesp.com

Website :http://www.invesp.com/

E-mail :pii@invesp.com

Twitter : @invesp

Linkedin :invesp.com/linkedin

Facebook :invesp.com/fb

YouTube :invesp.com/youtube

SlideShare :invesp.com/slideshare

Thank you