|Optimized conversion||Qualified leads|
|Solution||Marketing optimization system|
|Case study||Magento case study PDF|
Learn how e-commerce leader Magento lifted its conversion rate by 88.6% throughout its website lead generation funnel – and continues to improve with this ongoing Marketing Optimization SystemTM.
Magento makes e-commerce software that leading brands – like Nike, Maui Jim, and The North Face – use to sell products and services online. With 26% of the Alexa top million-commerce businesses using Magento, it’s the undisputed leader in its field.
The business need: more qualified leads
Magento had a problem 15 months ago. As the leading e-commerce platform, Magento’s website benefits from huge traffic volume. But, there was a lot of unqualified traffic for Magento’s Enterprise product. A lot of visitors were there to find out about the open source edition. The company needed to increase quality conversions in their paid product funnel while still serving their loyal open source community.
Magento had seen conversion optimization strategies pay off for their e-commerce clients. In fact, conversion optimization had become a “best practice” strategy for most of the leading retailers, so they knew the potential it had to dramatically boost their own revenue. But they also knew they didn’t want to do it alone. They needed a reliable path to overcome their challenges.
Magento knows how to develop world-leading e-commerce platforms. But, like most companies, they didn’t have deep conversion optimization experience or a history of winning tests to draw from. They also didn’t have an overall conversion optimization system to focus and prioritize their efforts.
They didn’t have time to learn and create this from scratch. They needed to bring in best-in-class expertise to get fast and reliable results, rather than re-inventing a system that others had already proven.
They needed a fully-outsourced partner who would create a conversion optimization strategy, analyze their existing pages, design challenger page variations, handle the technical implementation, and – importantly – provide insightful results analysis that would add to the company’s marketing knowledge bank.
The solution: marketing optimization system
After an extensive evaluation of conversion optimization options, Magento opted for WiderFunnel’s full service Marketing Optimization System. Magento’s marketing team believed it would deliver the fastest time to results without adding extra work for their already hard-working team.
WiderFunnel began by developing a rich understanding of Magento’s customers and prospects. The team gathered voice-of-customer information from surveys, persona profiles, user testing and a web analytics deep dive.
From that foundation, WiderFunnel’s strategists developed Magento’s Kaizen Plan – the conversion optimization strategy that included an in-depth workshop with Magento to align goals, roles, and target marketing understanding. WiderFunnel and Magento aligned around the most important goal: to lift the conversion rate for Magento Enterprise qualified sales leads.
The Kaizen Plan focused the team’s efforts on the top 12 optimization target areas such as site-wide page columns, persistent calls-to-action, category templates, transactional forms, landing pages and others. All target areas were prioritized according to WiderFunnel’s PIE framework™, which gauges the Potential, Importance, and Ease of each area from quantitative and qualitative data inputs.
This directed a top-to-bottom series of tests at every step of the conversion funnel, from the top-end landing pages down to the transactional forms.
For each target area, WiderFunnel’s strategists then used their proprietary LIFT Model™ to analyze every element that could be reducing the conversion rate. The conversion strategists analyzed the pages and pulled from their database of previous similar tests. They identified hundreds of conversion barriers throughout Magento customers’ journeys related to the 43 conversion factors within six categories: Distraction, Relevance, Clarity, Anxiety, Urgency and Value Proposition.
The WiderFunnel team planned and developed an ongoing series of controlled A/B/n split tests to discover and prove what works best. Visitors to the website were randomly shown one of several variations and then tracked to find which page variations maximized leads. The variations were always tested against the original (or Control) pages and measured to at least 95% confidence level of statistical significance.
Finally, WiderFunnel performed ongoing analysis of test results to evolve the Kaizen Plan and create ever-improving test plans.
Testing throughout the website in the first six months has already produced massive lift in conversion rates site-wide. The new conversion funnel now produces an 88.6% higher conversion rate without sacrificing lead quality.
Along the way, Magento also learned some fundamentals about how their visitors respond to and move through their lead-capture funnel.
In one search engine landing page, for example, WiderFunnel proposed a different copywriting approach. Their copywriter produced several copy test variations aimed at discovering the best type of words and pricing statements. The winning landing page now produces 16.2% more qualified leads each day for the sales team from a single test.
Through this test-learn-retest approach, WiderFunnel’s team has produced a dramatic lift in qualified leads for Magento – and it’s just getting started! Magento and WiderFunnel continue to innovate new methods to maximize their website’s persuasiveness in their ongoing retainer engagement.