Opportunity Gained: Increasing response through small, but strategic, changes

8/7/2019 Opportunity Gained: Increasing response through small, but strategic, changes

1/46

Opportunity Gained:Increasing response through small, but strategic, changes

Access Webinar Recording
https://cisco.webex.com/ciscosales/lsr.php?AT=pb&SP=EC&rID=47608422&rKey=00c7a49054fb75e6https://cisco.webex.com/ciscosales/lsr.php?AT=pb&SP=EC&rID=47608422&rKey=00c7a49054fb75e6


2/46

2010 Cisco Systems, Inc. All rights reserved.spius

About MECLABS

Chuck CokerDirector of Training

Chuck joined MECLABS Group in January, 2007 in order to drive the growth of

the organization through acquisition as well as the recruitment and retention

of high-value employees. His organizational development background

includes work with AT&T, General Foods, Harris Corporation, Sprint PCS,Tupperware, Verizon and Zurich. Chuck has developed over 50 training

programs for personal and career development as well as achieving the title

of Senior Professional in Human Resources. He has been guest lecturer at

Universities like Auburn, Harvard and Moscow State. Chuck is a former United

States Marine Corps First Lieutenant and a 7th degree Grandmaster Black Belt

in Tae Kwon Do. His education includes both B.A and Ph.D. degrees.


3/46


About MECLABS

Nathan ThompsonResearch Manager

As lead manager for multiple enterprise-level Research Partnerships, Nathan

is adept at generating greater ROI from already high-performing websites and

email marketing for enterprise-size marketers. But in his previous role as the

Director of Online Sales for venture-backed Internet music startupGrooveshark.com, he also learned how to craft effective online marketing for

startup companies where the potential is far greater than the marketing

budget. With a B.S. in Public Relations and Entrepreneurship from the

University of Florida, Nathan has a sense for not only how to run a successful

business but how to let everyone know youre running a successful business.


4/46


Core Offerings >>

MECLABS Sciences Group

Conversion

Group

Leads

Group

Technolog

y Group

Training

Group

Strategy

Group

Applied Research

Brands

Primary Research

974 case studies 753 how-to articles 180 research briefs

50 publication series

Products

Over 100

conferences, training

sessions and events

per year

Events

Agency

Group

About MECLABS


5/46

2010 Cisco Systems, Inc. All rights reserved.spius5

Background: A leading software provider

Goal: To increase total leads captured

Primary research question: Which process will generate the most leads?

Approach: Radical redesign of the complete lead-generation process focusing

on strengthening the communication of the value proposition

Experiment ID:(Protected)

Location: MarketingExperiments Research LibraryTest Protocol Number: TP1214

Research Notes:

Experiment: Background


6/46


Business Software Suite

#1 On-Demand. 6459+ World Clients

Award-Winning Solution. Free Trial

www.XXXXXXXXXX.com/Business

{Keyword} Business Software

Award-Winning Business Software.

Fully Integrated. Free Trial


Original

Optimized

Experiment: PPC Ad

In Clickthrough

21%


7/46 2010 Cisco Systems, Inc. All rights reserved.spius

Experiment: Landing page

In Clickthrough54%

OriginalOptimized


8/46 2010 Cisco Systems, Inc. All rights reserved.spius8

Experiment: Form Page

In Submissions97%

OriginalOptimized



Metric Control TreatmentRelative

Difference

PPC Advertisement 0.89% 1.08 20.9%

Landing Page Clickthrough 7.17% 11.06% 54.26%

Form Completion 15.84% 31.25% 97.27%

Impression-to-lead Conversion .009% .033% 272.2%

272% Increase in Overall ConversionThe optimized paths conversion rate increased by 272.2%

Experiment: Results

What you need to understand: In this experiment, a 272% increase in

conversion led to 268% more projected revenue and, when combined with

the corresponding 66% reduction in cost-per-acquisition, the optimized

path produced more than 4 times the monthly profit (302% increase).



Key Principles

What you need to understand

1. We do not merely optimize words or images on a page. Rather, we are

optimizing sequences of thought. We are engaging in a conversation that is

going on in the visitors mind and then leading it to an exchange of value.

2. This means that the value of every action you desire to lead your visitor tomake must outweigh the cost in their minds perception.

ValueCost

The Value Exchange Fulcrum



Reducing the Perceived Costs

For the remainder of this session, we will focus on the value side ofthe fulcrum, and identify three key factors that effect the perception

of value on a Web page:Appeal, Exclusivity, & Credibility

Cost Value



AUDIENCE POLL

Of the following, what do you think is of the biggest purchase

value for your potential customers?

1. Low Prices2. Good customer service

3. Product reliability

4. Peer recommendations

5. Return Policies



AUDIENCE POLL

Now, what do you think you are displaying as your strength?

1. Low Prices

2. Good customer service

3. Product reliability

4. Peer recommendations

5. Return policies



Appeal & Exclusivity



Key Principles

Appeal and Exclusivity

1. In essence, the inherit value (or value proposition) of an offer can

be broken into two factors.

The Appeal of the offer (How much is this offer desired?)

The Exclusivity of the offer (Where else is this offer available?)

Take the time on the chat line to identify how you present

your appeal and exclusivity


16/46


{Keyword} Business Software

Award-Winning Business Software.

Fully Integrated. Free Trial


Not This: Original PPC Ad

APPEAL: There is some appeal to this product in that its a business

software solution and offers a free trial.

EXCLUSIVITY: However, little in this ad differentiates this offer from

other business software solutions that potentially even offering freetrials as well.

Original PPC Ad


17/46


Business Software Suite




But This: Optimized PPC Ad

APPEAL: The use of the word Suite in the header generates additional

appeal for those searching for a holistic business solution.

EXCLUSIVITY: #1 On-Demand makes the exclusive claim that this

business software is the most used platform in the world. 6459+ worldclients supports this claim of exclusivity in regards to the scope of users.

Optimized PPC Ad


18/46


Key Principles

Appeal and Exclusivity

1. In essence, the inherit value (or value proposition) of an offer can

be broken into two factors.

The Appeal of the offer (How much is this offer desired?)

The Exclusivity of the offer (Where else is this offer available?)

2. There are two skills necessary to leverage the power of your value

proposition: 1) the ability to identify the greatest inherit value of

an offer and 2) the ability to express it.


19/46


20/46


A value proposition is not usually determined, it is discovered. It growsout of need. We must avoid a sales-driven approach to product

development. You should develop products for the market.

You can compare your answer with the claims of your main competitors.

It helps to refine your value proposition until you can articulate it in asingle, instantly credible, sentence.

In the end, you must test your value proposition.

SKILL 1: Identifying the Greatest Inherit Value

Tips for identifying your value proposition:


21/46


SKILL 2: Expressing the Greatest Inherit Value

As we have seen in theprevious PPC example, this

product has inherent value

(appeal and exclusivity), but

how well is this being

communicated on this page?

NOTE: In some cases abusiness has not developed

an effective value

proposition. In other cases, a

business simply has notclearly expressed its value

proposition.


22/46



Congruence: Having every element of your page either state the

value proposition or support the value proposition. (This can beexpressed in your logos, price, design features, images, colors, etc.)

Key Principles

1. One must think holistically about the communication of their value

proposition. This involves two key strategies:


23/46



CONGRUENCE: Headline and sub-headline

immediately greet the visitor

with the core value

Copy is broken into key aspects

of the value

Image conveys the flexible andintegration capabilities

Call-to-action even states thevalue, Get My Free Trial


24/46



Congruence: Having every element of your page either state the

value proposition or support the value proposition. (This can beexpressed in your logos, price, design features, images, colors, etc.)

Continuity: Making certain that each step of the buy process either

states or supports the value proposition.

Key Principles

1. One must think holistically about the communication of their inherit

proposition. This involves two key strategies:


25/46



XXXXXXXXX Software Suite



www.XXXXXXXXXX.com/XXXXXXXX

Key value iscommunicated in

each step of theprocess keeping the

user motivated

CONTINUITY:


26/46



Value is expressed not just on the landing page but through the entire formsubmission process, step-by-step.

CONTINUITY:


27/46



XXXXXXXXX Software Suite



www.XXXXXXXXXX.com/XXXXXXXX

From the PPC ad to the last form submission page, the value is communicated,keeping the very essence of what is motivating the visitors in front of them

every step of the way.

CONTINUITY:


28/46


Appeal and Exclusivity Checklist

Can you identify what makes you different from your competitors?

Can you clearly state your core value proposition in a single

sentence?

Do you have page headlines that instantly communicate the value of

your offer?

What value do your images communicate? Are they just random

stock images?

Are you communicating value throughout the entire process? Whatvalue is on your cart page, form page, thank-you page, etc.?


29/46


Building Credibility


30/46


Key Principles

1. With todays post-modern consumer, every statement of value must be

communicated in a way that is instantly credible.



31/46


32/46


Five steps to improving the credibility of your communication:

Step 1: Let someone else do your bragging



33/46


To the Post ModernConsumer, nothing is more

nauseous than the sound

of someone singing their

own virtues.

If you must conveysubjective information

about your product, then

do so through the voice of

your customers, peers, or

reviewers.



34/46


35/46


36/46


Five steps to improving the credibility of your communication:


Step 2: Tell (only) the (verifiable) truth

Step 3: Substitute general descriptions with specific facts(qualitative vs. quantitative)



37/46



ORIGINAL: Fully managed dedicated services by the hosting experts backed byproven accreditations

ORIGINAL: we provide reliable services

OPTIMIZED: All our solutions are backed by stringent Service Level Guarantees

with cash rebates for under-performance: 1) 99.9% uptime guaranteed 2)guaranteed response time 3) guaranteed time to repair.

OPTIMIZED: the highest level of global accreditation. We are the only data

centre to hold the ISO27001, AS/BS7799, SunTone, RedHat, ASIO and DSD

certifications.


38/46


Five steps to improving the credibility of your commuication:


Step 2: Tell (only) the (verifiable) truth

Step 3: Substitute general descriptions with specific facts(qualitative vs. quantitative)

Step 4: Admit your weaknesses

Step 5: Be careful not to refute your efforts with opposingelements of your web page



39/46


40/46


41/46


42/46


Live Optimization


43/46


44/46


Live Optimization


45/46


46/46

Documents

Opportunity Gained: Increasing response through small, but strategic, changes