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Dan McGaw - [email protected] Ways to Increase Revenue during the Holidays November 14th 2013 5

5 Ways to Increase Revenue During the Holidays

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Page 1: 5 Ways to Increase Revenue During the Holidays

Dan McGaw - [email protected]

Ways to Increase Revenue during the Holidays November 14th 2013

5

Page 2: 5 Ways to Increase Revenue During the Holidays

@danielmcgaw #KISSwebinar

Twi!er

Page 3: 5 Ways to Increase Revenue During the Holidays

1 Email segmentation by visitor type

We’ll cover…

2 On-website advertising

3 Discount Psychology

4 A/B testing on product pages

5 Increase cart size

Page 4: 5 Ways to Increase Revenue During the Holidays

Email Segmentation by Visitor Type

1

Page 5: 5 Ways to Increase Revenue During the Holidays

Send targeted emails

Page 6: 5 Ways to Increase Revenue During the Holidays

Dynamic content and a/b testing

Page 7: 5 Ways to Increase Revenue During the Holidays

Gather segments using KISSmetrics

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Export your segments to CSV

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Import CSV information into ESP

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Import CSV information into ESP

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Import CSV information into ESP

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Use data to segment

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Send a targeted campaign

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Takeaways

1 Se!ing up customer tracking

2 Send emails customers want

3 Create dynamic content

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On-website Advertising

2

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Your home page is gold!

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Control focus and distraction

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Do heat map testing

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Use caution, but try

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Keep it simple stupid

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Takeaways

1 Keep it simple stupid

2 Monitor how people use your site

3 Create compelling and valid options

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Discount Psychology

3

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Customers don’t always want a discount

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Main Discount Types

Dollar or Percentage Off

Buy one get one

Quantity Discounts

Rebates

Free Shipping

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Quick, which is the biggest discount?

$200 off a $999 TV !!A $35 pair of sunglasses, marked down from $50 !!Buy one shirt for $60, get the second for 50% off

Page 26: 5 Ways to Increase Revenue During the Holidays

Biggest Discount

$200 off a $999 TV

A $35 pair of sunglasses, marked down from $50

Buy one shirt for $60, get the second for 50% off

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Reduce the amount of math

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Discounts reduce intent to search

h!p://papers.ssrn.com/sol3/papers.cfm?abstract_id=1934762

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Takeaways

1 Cut out the math

2 Provide value

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A/B Testing on Product Pages

4

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What is A/B testing?

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A/B Testing Tools

h!p://www.conversion-rate-experts.com/split-testing-so"ware/

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Common experiments

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Common experiments

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Common experiments

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Key Areas to test - Images

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Key Areas to test - Product titles

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Key Areas to test - Bu!on colors

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Key Areas to test - Pricing options

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Takeaways

1 Pick a tool that works for you

2 Multi-variant test the winner

3 Test everything you can

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How to increase cart size

5

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Dont sell one item

h!p://www.plosone.org/article/info%3Adoi%2F10.1371%2Fjournal.pone.0046362#abstract0

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Upsell on every purchase

Remember the gloves from earlier?

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Offer free shipping with additional items

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Offer incentives for spending more

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Takeaways

1 Offer similar items as upsells

2 Free shipping for 2+ item carts

3 Offer gi#s for spending more

Page 47: 5 Ways to Increase Revenue During the Holidays

Dan McGaw - [email protected]

Ways to Increase Revenue during the Holidays

5

1 Use advanced segmenting

2 Test all conversion points

3 Upsell on every item

TAKE AWAYS -

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@danielmcgaw #KISSwebinar

Twi!er

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1 Contact Rossi at [email protected]

Want a demo of KISSmetrics?

2 Email me at [email protected]

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Questions?

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Thank you