When we work from a basis of fear, we stop being creative. It's time to buck up and innovate!
The following is an excerpt I recently received from a reader.
This topic has been in constant discussion over the past few weeks. So much so, that's it's become a cliché. Consider what Svetlana Gladkova wrote in "Are We Sure About Pending Collapse of Ad-Supported Internet?" at Profy:
Clearly, the overwhelming consensus is to keep putting ourselves out there and reaching our customers. Competition is likely to get tougher, and companies will focus more on holding their marketing departments and agencies accountable for that spend, just as they're being held more accountable. In that light, measurement looks even more critical.
This is great news! It's a time to take control of one's destiny and discover innovative ways to improve one's ad spend, based completely on data. What could be better?
In my last column, I interviewed Lester Wunderman, whose agency is currently celebrating its 50th anniversary. One of the things he said resonated deeply with me: "Fear and imagination are opposite. When we work off a basis of fear, we stop being innovative."
But many of you want something more tangible to be innovative. For the next two columns, I'll focus on two specific recommendations. These recommendations will keep that constant state of actionable analytics. They will allow you to make changes in how your customers perceive your brand. How you make these changes is up to you. Innovate!
Landing Page Optimization
Pick one page, form, or promo that isn't performing well and look to improve that. You can start with a basic A/B test or use a multivariable test. Go through the steps, evaluate the impact, and make changes from there.
After the first successful optimization steps, all others come much easier. People start to understand the process and, more important, see the results of taking action.
Let's look at a quick example of a simple A/B test.
You test a single product page to increase sales conversion. You test five designs against the existing page to determine the best approach. Here's one way to figure the estimated impact of the optimization:
|Estimated monthly visitors||88,164|
|Current monthly orders (existing design)||2,931|
|Estimated monthly orders (new design)||3,376|
|Increased monthly orders (new design)||445|
|Estimated revenue per order||$311.88|
|Incremental monthly revenue||$138,787|
|Incremental yearly revenue||$1,665,439|
Next time, we'll discuss behavioral targeting. Let's keep this simple, and take it one step at a time.
Want to learn more?
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In 1998, Shane co-founded ZAAZ to advocate a different approach to Web services — one that respects and delivers on the power of the individual and the promise of Web technologies. As CEO, Shane leads the company's long-term strategic vision of working with leading financial service organizations, consumer brands, startups, non-profits, and community-based organizations, helping each realize the potential of the Internet and its meaningful impact on their business.
Hong Kong, May 5-6, 2015
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