cro preso for growth hackers conf nov 2013 ellis updated
DESCRIPTION
Conversion rate optimization (CRO) is the most profitable growth lever available to marketers and growth hackers. Sean Ellis invented the word growth hacking and shows how CRO amplifies all customer acquisition channels, improving ROI of existing channels and opening new profitable growth channels. This presentation shows a process for driving continuous improvement of the effectiveness of your website in meeting your business objectives while also improving the experience for your customers. CRO is the secret weapon of all effective growth hackers and marketers. Learn some of the key questions you can ask to uncover why visitors aren't converting and the process for applying this information to improve conversions through rapid testing and analysis. Want more CRO tips? Get the free 12 chapter guide to conversion rate optimization at www.Qualaroo.com/beginners-guide-to-croTRANSCRIPT
Conversion Rate OptimizationConversion Rate OptimizationStacking the Odds for GrowthStacking the Odds for Growth
Sean EllisSean EllisNov 7th, 2013Nov 7th, 2013Founder/CEO Qualaroo, Founder/CEO Qualaroo, www.GrowthHackers.comTwitter: @SeanEllisTwitter: @SeanEllis
1Twitter @SeanEllis www.GrowthHackers.com
Most Important Lesson LearnedMost Important Lesson Learned
Conversion Rate Optimization (CRO) Conversion Rate Optimization (CRO) the the most profitable most profitable lever for growthlever for growth
Twitter @SeanEllis 2www.GrowthHackers.com
What is Conversion Rate Optimization?What is Conversion Rate Optimization?
A process for creating a more effective websitesA process for creating a more effective websites
For you: For you: maximize your business objectivesmaximize your business objectives
For customers: For customers: improve their experienceimprove their experience
Twitter @SeanEllis 3www.GrowthHackers.com
The Power of CROThe Power of CRO
• Amplifies all customer acquisition channelsAmplifies all customer acquisition channels
• Makes all marketing more profitableMakes all marketing more profitable
• Opens new profitable growth channelsOpens new profitable growth channels
• Improves customer happinessImproves customer happiness
• Always room for improvementAlways room for improvement
Twitter @SeanEllis 4www.GrowthHackers.com
Pre-Req: Verify Product/Market FitPre-Req: Verify Product/Market Fit
Large group wants/needs your product – “must have”Large group wants/needs your product – “must have”
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Measure your P/M FitFree at Survey.io
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CRO = Tune Value Delivery MachineCRO = Tune Value Delivery Machine
Goal: Goal: Max % that reach MH experienceMax % that reach MH experience
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Must-Have Must-Have experienceexperience
New Visitor
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Steps to Better ConversionsSteps to Better Conversions
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What do you need to Understand?What do you need to Understand?
• Must have experienceMust have experience
• Visitor intent and motivationsVisitor intent and motivations
• Blockages in conversion processBlockages in conversion process
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Understand “Must Have” UsersUnderstand “Must Have” Users
Ask questions like following…Ask questions like following…
• How would you feel without X? (Very disappointed)How would you feel without X? (Very disappointed)
• What is the primary benefit you receive?What is the primary benefit you receive?
• Why is that benefit important for you?Why is that benefit important for you?
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Power of IntentPower of Intent
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IntentIntent
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Understand Initial Intent/DesireUnderstand Initial Intent/Desire
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Target 1st Time Visitors
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Uncover Points of FrictionUncover Points of Friction
• User testing (live or online)User testing (live or online)• Survey to uncover conversion issuesSurvey to uncover conversion issues
““What’s the one thing that nearly stopped you from purchasing?”What’s the one thing that nearly stopped you from purchasing?”
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• Triggered by cart abandon prediction settingTriggered by cart abandon prediction setting• Identified cart browser issue Identified cart browser issue
• Caused $60K in lost salesCaused $60K in lost sales
Client undisclosed
Example: $60K of FrictionExample: $60K of Friction
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Feedback Sample Size?Feedback Sample Size?
• Feedback sample size not important*Feedback sample size not important*
• Goal: inspiration for breakthrough testsGoal: inspiration for breakthrough tests
• Feedback from one user can provide inspirationFeedback from one user can provide inspiration
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* Samples does matter for testing
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Decide on Your CRO ToolkitDecide on Your CRO Toolkit
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Prioritize Testing PlanPrioritize Testing Plan
• List key customer intent (from research)List key customer intent (from research)
• List friction to solve (from research)List friction to solve (from research)
• Determine baseline conversionsDetermine baseline conversions
• Consider potential lift from testsConsider potential lift from tests
• Script your first ten testsScript your first ten tests
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Baseline Funnel ConversionsBaseline Funnel Conversions
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Optimize Value Delivery MachineOptimize Value Delivery Machine
Goals Goals • Max % that reach MH experienceMax % that reach MH experience• Desire – Friction = Conversion RateDesire – Friction = Conversion Rate• Build desire, reduce frictionBuild desire, reduce friction
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Must-Have Must-Have experienceexperience
Hook Promise
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CRE* Recommends Bold Targeted TestsCRE* Recommends Bold Targeted Tests
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*conversion-rate-experts.com
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Applied to Every Onramp (Dropbox)Applied to Every Onramp (Dropbox)
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Homepage (synch)
Folder Share
(Collaborate)
File Share
(Send)
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Repeat Process FrequentlyRepeat Process Frequently
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Always a better way to do everything…
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Sean EllisSean EllisFounder/CEO of QualarooFounder/CEO of Qualaroowww.qualaroo.comwww.qualaroo.comTwitter: @SeanEllisTwitter: @SeanEllis
Want more CRO tips?Want more CRO tips?Get free 12 chapter guide to conversion rate optimizationGet free 12 chapter guide to conversion rate optimizationwww.Qualaroo.com/beginners-guide-to-crowww.Qualaroo.com/beginners-guide-to-cro
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