t&c meetup #8: how to optimize conversions throughout your funnel

How To Optimize Conversions Throughout Your Funnel

by Ewa Wysocka & Samuel P.N. Cook

1. STRATEGY fundamentals

2. FUNNEL psychology and mapping

3. EXECUTION process

4. Defining your NUMBERS (KPI’s)

5. CONTENT integration

6. PAID TRAFFIC integration

7. OPTIMISATION

8. CUSTOMER SERVICE process set up

Our 8-Step Digital Marketing Formula

Let’s imagine for a moment that….

You Set Your Fundamentals of Online Marketing STRATEGY:

⭑ Your PERSONA

⭑ Market AWARENESS

⭑ Market SOPHISTICATION

⭑ Your Unique Selling Proposition (USP)

⭑ Your BRANDING Kit

Your mapped out your online FUNNEL

Frank Kern

Brendon Burchard

1. COPYWRITING

2. UI/UX Design

3. GRAPHIC Design

4. FRONT END Development

5. WEBSITE ECOMMERCE

Development

6. Marketing AUTOMATION Setup

7. CRM Setup

8. ANALYTICS Setup

You executed your Funnel according to the process:

You know your LTV (Lifetime Value) and planned your CAC (Customer

Acquisition Cost)

You integrated some of the most powerful content

pieces into your Funnel:

⭑ VIDEO

⭑ WEBINAR

⭑ Graphic (Infographic)

⭑ Blog Post

⭑ Social Media Post

NEIL PATEL

SETH GODIN

1. Start with a Funnel.2. Find a Cold Traffic

Source.3. Remarketing Roadmap.4. Write your ads.5. Set Your Budget.

You followed the rules of Paid Traffic:

And….

LTV > 3 x CAC

SCENARIO #1:

LTV <= CAC

1. Do you have a

Product/Market Fit?

a. Were you able to sell this

to anyone before? (offline)

2. Can you increase your LTV?

a. Improve your Customer

Experience (next Meetup!)

b. Increase price.

c. Add upsells and

downsells.

SCENARIO #1:

LTV <= CAC

3. Use QUALITATIVE RESEARCH

(surveys and customer

interviews) to evaluate your

assumptions on Strategy

Fundamentals:

a. Did you pick the right

Persona?

b. Is your Unique Selling

Proposition compelling?

c. Are you competitive in the

Market You Chose?

SCENARIO #1:

LTV <= CAC

SCENARIO #2:

CAC < LTV < 2 x CAC

1. Can you increase your LTV?! (This will never hurt!):

a. Improve your Customer Experience (next Meetup!)

b. Increase price.

c. Add upsells and downsells.

2. Adjust the Funnel Elements (Radical Testing):

SCENARIO #2:

CAC < LTV < 2 x CAC

Use video instead of articles

Change Webinar for online

Assessment!Add extra step for Purchase!

How To Do RADICAL TESTS

SCENARIO #3:

2 x CAC < LTV < 3 x CAC

1. Can you increase your LTV? (it

never hurts!)

a. Improve your Customer

Experience (next Meetup!)

b. Increase price.

c. Add upsells and downsells.

2. Conversion Rate Optimization

(CRO)

a. A/B Testing

b. Multivariate rate testing (MVT)

SCENARIO #3:

2 x CAC < LTV < 3 x CAC

Customer Acquisition Cost (CAC) = $1

1. Ad CTR - Increases 10%

2. Optin Page - Increases 10%

3. Email Sequence - Increases 10%

4. Sales Page Page - Increases 10%

Funnel Conversion Rate Increase - 46%

Customer Acquisition Cost (CAC) - $.68

CRO Math 101SCENARIO #3:

1. Funnel Analysis (Heuristic)

2. Technical Analysis

3. Quantitative Research

4. Qualitative Research

5. Create Hypotheses

6. Test your Hypotheses

7. Learn from Your Tests

Conversion Rate Optimization Framework

SCENARIO #3:

Peep Laja, Conversion xl

Brendon Burchard

1. Your opinion doesn’t matter.

2. You don’t know what will

work.

3. There are no magic templates

for conversion.

How to be a good OPTIMIZER

Clay collins, leadpages

1. Cross Browser Testing

2. Cross Device Testing

3. Conversion Rate per

Device/Browser

4. Speed Analysis - GTMetrix.com

a. Code Quality

b. Server Configuration

c. CDN Network

Technical Analysis

Brendon Burchard

1. Web Analytics Analysis

a. Analytics Health Check

b. KPI Measurement

2. Mouse Tracking Analysis

a. Heatmaps & Clickmaps

b. Scroll maps

c. User web recordings

d. Form Analysis

Quantitative Analysis

Brendon Burchard

1. Surveys

a. Customer Surveys

b. Web Traffic Surveys

c. Chat Logs

d. Interviews

e. Sales Calls

2. User Testing

a. In-person

b. Screen Recording w/

Client

c. User Testing Sites

Qualitative Analysis

Brendon Burchard

1. 5 Main Buckets of Discoveries

a. Test.

b. Instrument.

c. Hypothesize.

d. Fix it.

e. Investigate.

2. Make Hypotheses

3. Prioritize Hypotheses

a. Front of Funnel

b. Back of Funnel

c. Bottleneck of Funnel

Create Hypotheses

Brendon Burchard

1. Make priorities

2. How easy is it to implement?

a. Copy Changes

b. Design Changes

c. Functionality Changes

d. Video Changes

3. How long will the test take?

4. How does this test effect other

tests?

5. The Art vs. Science

Testing Hypotheses

Brendon Burchard

1. Focus on First things First

a. Above the Fold

b. Optin/Offer Box

c. Footer

d. Everything Else

2. Copy Matters (A Lot)

3. Video Works (unless it doesn’t).

4. 2 pages vs. 3 pages

5. Short vs. Long Page layout

6. Short vs. Long Forms

Testing Priorities

Brendon Burchard

1. The Secret Weapon of

Optimizers (Statisticians)

2. How it Works

a. 3 Elements

b. 2 Variations per element

c. 8 unique combinations

3. You usually get a Winner (much

better percentage than A/B

Testing)

4. Interactions of Elements creates

unique testing

NOTE: Large amount of traffic

Required

MVT vs. A/B Testing

1. ⅔ of A/B Tests will fail

2. Losing tests COSTs you money

3. What did you learn from the

test?

4. When you WIN, you lock in the

gains.

Learning from Tests

Bobby mcgee, olympic run coach

How to (NOT) break your funnel

3 Ways Of Increasing Your Customer Lifetime Value

June 15th, 7pm, Google Campus Warsaw

SAM! IT’S THE LAST ONE!!!!

YES... BUT IT’S NOT THE END...

Video production & Photography by projecton