Last week I was extremely fortunate to attend eMetrics Toronto 2010, which ran in parallel with SMX. Unfortunately, I had to make a choice: stick with my bread and butter online marketing peeps, or challenge my left brain and get analytical. Thankfully, my coworker Lisa Davis was joining me for the conference and wanted to attend SMX (her SMX review), so my fate was clear. Although I wrote up a fairly detailed review of eMetrics on my other blog, Analytics-Advice.com, there was one presentation that really stood out from the rest that incorporated strong correlations between analytics and marketing.
Conversion is something that’s talked about a lot, by experts such as Bryan Eisenberg, Tim Ash, Avinash Kaushik, and many others. Very few give real-world examples of how conversion is improved over time with proven methodologies that are measurable and repeatable. If you’ve dabbled in A/B or multivariate testing, you may not think airplanes have a lot to do with your conversion rate, but they do!
Raquel Hirsh and Chris Goward of Wider Funnel Marketing Optimization presented at a session entitled “Part-III: Conversion Show and Tell – A Case Study with Lift, Volume and $$$.” Evangelizing conversion methodology over tips, Raquel and Chris presented something that will stick with me for life — the WiderFunnel L.I.F.T.™ Model.
The graphic makes their methodology abundantly clear, value proposition is the main driver of conversion rate, with relevance and clarity increasing conversion and anxiety and distraction reducing conversion. Urgency can be used to accelerate decision-making, but has to be used carefully so that it does not add to any anxiety.
For a complete description of the factors affecting conversion rate, I urge everyone to read about the WiderFunnel L.I.F.T. methodology at their site.