5-Step CRO Framework
- 1. CRO 101FIX YOUR FUNNEL LIKE A MAD SCIENTIST
- 2. April 15, 2015 was my first day as Growth Marketing Manager for HubSpot CRM.
- 5. Ben, we need 250,000 CRM signups by the end of the year.
- 6. Ben, we need 250,000 CRM signups by the end of the year. Can I get back to you?
- 7. Ben, we need 250,000 CRM signups by the end of the year. Can I get back to you? No. We need 250,000. Make it happen.
- 8. Ben, we need 250,000 CRM signups by the end of the year. Can I get back to you? No. We need 250,000. Make it happen.
- 9. This is what we would need in order to hit the 250k EOY goal.
- 10. This is what we would need in order to hit the 250k EOY goal. This is what we were actually going to hit.
- 11. Based on my projections, we were only going to hit 50% of our end-of-year goal.
- 12. What would you do?
- 14. According to Wikipedia: CRO, or Conversion Rate Optimization, is a system for increasing the percentage of visitors to a website that convert into customers, or more generally, take any desired action on a webpage.
- 15. According to Moz: Conversion Rate Optimization is finding out why visitors arent converting, then fixing it. Thats it.
- 16. CONVERSION RATE OPTIMIZATIONThat thing you want people to do The % of people who do that thing Getting more people to do that thing
- 17. Why is CRO important?
- 18. All of inbound marketing is built around points of conversion.
- 19. Success as an inbound marketer ultimately comes down to your ability to drive conversions.
- 20. Heres a famous (and patriotic) example of CRO at work...
- 21. In 2008, a presidential candidate hired a team of expert digital strategists to manage his website.
- 22. The team ran countless optimization tests, with the goal of boosting the number of signups and donations on the site.
- 23. Can you guess who that candidate was?
- 24. LP #001 LP #134
- 25. 8.26% 11.60%
- 26. Through their optimization experiments, his team was able to increase the conversion rate on his home page by 40%. And do you know what that got him?
- 27. $60,000,000 3M additional signups and $60M in additional campaign donations. Woah.
- 28. I think we agree: CRO is huge.
- 29. But heres the problem... (well...3 problems)
- 30. Were not investing in CRO The Myth(s): Well just get it right the first time around There are more important things to focus on CRO sounds like an 80s synth band The Reality: Getting it right takes a ton of learning and iteration At a certain point, the time effort that it takes to grow your funnel begins to exceed the time and effort that it takes to fix your funnel CRO might be the most valuable thing that your team could be focusing on PROBLEM #1
- 31. Were after Silver Bullets The Myth(s): Theres one magic hack/tip/trick/tool out there that will cause your conversion rates to skyrocket The Reality: Theres no such thing as a silver bullet. Anyone who tells you otherwise is trying to sell you something. CRO is about patience and process PROBLEM #2
- 32. We want to be Don Draper The Myth(s): Brilliant marketing comes from genius ideas, and genius ideas come from idea-generating unicorn marketers that dream up ideas over fine scotch whisky and cuban cigars The Reality: Brilliant marketing does come from genius ideas, but genius ideas come from listening to your customers and from collecting lots and lots of feedback Youre not Don Draper. Dont aspire to be Don Draper. PROBLEM #3
- 33. Brilliant marketing doesnt look like this
- 34. It looks like this.
- 35. So what do we do?
- 38. Audit Your Existing Funnel Questions: Where is the greatest opportunity for optimization in my current marketing funnel? What specific conversion metrics should I focus on to drive the greatest impact? Objectives: Clearly laid out optimization goals Key Performance Metrics (KPIs) for measuring optimization STEP 1
- 39. An Audit of HubSpot CRM... The Funnel: There were 1 of 2 stages of our growth funnel that we could have optimized: our ToFu user acquisition channels or our dedicated signup page. Audit Results: Because we had 3 different user acquisition channels and only 1 signup page, we decided that optimizing for Landing Page Conversion Rate would yield the greatest ROI KPI: Landing Page Conversion Rate (LP CVR)
- 41. Ask the Right Questions Questions: What is having the biggest positive/negative impact on my conversion rates? Why arent people converting? Why are people converting? Objectives: Feedback mechanisms for collecting important qualitative and quantitative user feedback Actively collecting the right feedback from the right users Uncovering the core issues related to conversion STEP 2
- 42. How do users interact with the signup page? Feedback Mechanisms: Heatmaps, Scrollmaps, and User Recordings Tools: HotJar, Lucky Orange, Crazy Egg Findings: People were engaging with the page (moving their mouse and scrolling) but would make it to the bottom of the page, then exit. Clearly there was some interest, but there was an element that was either missing or that was driving users away
- 43. Why do users convert? Feedback Mechanisms: Automated kickback email Tools: HubSpot email tool Findings: There were a lot of reasons why people chose HubSpot CRM (features, ease of use, etc.) but the biggest one that stuck out was the price tag. People loved free. Hi there, Thanks for signing up for HubSpot CRM. My name is Ben and I work on the growth team here at HubSpot. I was curious: what was it about HubSpot CRM that made you want to try it? Thanks! Ben Ben Ratner Growth Marketer HubSpot CRM
- 44. But wait...how do we collect feedback from the users who dont convert?
- 45. Why dont users convert? Feedback Mechanisms: Exit intent popup poll Tools: HotJar Findings: People didnt trust that the product was actually free. They figured it had to be a trial or that there were hidden costs associated with the product.
- 47. Answer the Questions with Ideas Questions: What insights can we gain from our data to improve conversions? How can we address the issues that are causing people not to convert? How can we use the reasons that people do convert to drive higher conversion rates? Objectives: A list of well-informed experiment ideas, in the form of hypotheses (if we do X, then we can expect Y to occur, because Z) Bonus points: prioritize your ideas with the ICE framework! STEP 3
- 48. People dont believe that HubSpot CRM is actually free.
- 49. People dont believe that HubSpot CRM is actually free. Lets capitalize the word FREE!
- 50. People dont believe that HubSpot CRM is actually free. Lets capitalize the word FREE! Lets add a dummy pricing calculator!
- 51. People dont believe that HubSpot CRM is actually free. Lets capitalize the word FREE! Lets add a testimonial that mentions free! Lets add a dummy pricing calculator!
- 52. People dont believe that HubSpot CRM is actually free. Lets capitalize the word FREE! Lets add a testimonial that mentions free! Lets add a dummy pricing calculator! Lets add a section explaining what we mean by free!
- 53. Applying the ICE Framework... Idea Impact Certainty Ease ICE Score Capitalize the word FREE 3 5 10 6.0 Dummy Pricing Calculator 5 5 5 5.0 Testimonial with the word free 6 3 7 5.3 Section explaining meaning of free 7 6 8 7.0
- 55. Attempt to Fix the Problem Questions: How can I design an experiment that will adequately validate my hypothesis? How will I know when Ive collected enough data to prove/disprove my hypothesis? Objectives: Statistically significant experiment data STEP 4
- 56. The Anatomy of an Experiment Objective (why were doing this) After collecting feedback from both converted and un-converted users, we have found that a persons belief that HubSpot CRM is free has a big impact on whether or not they convert. In order to improve LP CVR, we will experiment with adding a section to the signup page that explicitly calls out what we means when we say HubSpot CRM is free. Hypothesis (what we think will happen) If we add a What Free CRM Means section to the page, then LP CVR will increase by 25% because it will help people understand that HubSpot CRM is actually free Experimental Design (how were planning to test hypothesis) Standard A/B test - control variation vs. test variation A with Free CRM section
- 59. Analyze Your Test Results Questions: What did we learn from our experiment results? Have we achieved the desired outcome of meaningful optimization? What should we focus on next? Objectives: Experiment results documented and shared with team Clear set of next steps for optimization STEP 1
- 65. Always be sure to share what youve learned!
- 74. Be the best at getting better. BRIAN BALFOUR GROWTH HACKER
- 75. QUESTIONS? Ben Ratner Growth Manager @benjratner (978)828-4215
- 76. Features: Custom popup forms (and flows) Automatic contact enrichment Website conversion analytics Benefits: More ways to generate leads More information about your leads Better insight into web performance Price: Free Similar Products: SumoMe Opt in Monster Convert Kit Get it Now: http://leadin.hubspot.com Try Leadin today!