We Ran 20 Tests - These Increased Profit the Most...

Aug 13, 2024

Drew, a profit optimization expert from Intelligems, shares insights on increasing e-commerce profitability. He emphasizes focusing on profit per visitor over just conversion rates. The conversation dives into strategies like risk reversal and social proof to enhance customer confidence. They discuss the impact of clear navigation and value propositions on conversions. Drew also unveils effective pricing techniques like price anchoring and upselling methods to boost average order value, making data-driven adjustments critical for success.

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INSIGHT

Profit Per Visitor Metric

Profit per visitor is a better metric than just conversion rate for CRO.
Optimizing profit considers conversion rate, average order value, and margin percentage holistically.

ADVICE

Use Risk Reversal Smartly

De-risk purchases by clearly addressing customer concerns like easy cancellation and returns.
Placing videos that ease sizing or product fit worries near the buy button boosts conversion and profit.

ADVICE

Simplify Navigation

Simplify navigation and product discovery especially for large catalogs to boost conversion.
Add a best sellers page in the nav to guide new customers effectively to top products.

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💰 Intelligems - The Ultimate Profit Optimization Tool🔗 https://www.intelligems.io/

In this special episode of Chew On CRO, featuring Drew from Intelligems, Ash and Drew discuss powerful results from a series of tests focused on boosting profit for e-commerce websites through conversion rate optimization (CRO). They highlight the importance of profit per visitor as a key metric and explore various CRO strategies, including risk reversal, social proof, navigation, value proposition highlighting, landing pages, personalization, iterative page launches, price optimization, and cart optimization.

💡 Focus on profit per visitor rather than just conversion rate to maximize your returns.

📈 Boost conversion rate by addressing customer concerns, providing clear value propositions, and simplifying navigation.

🛍️ Increase AOV by offering upsells, bundles, and quantity selectors, as well as leveraging free shipping thresholds strategically.

💰 Utilize price anchoring and charm pricing to encourage higher purchase values without sacrificing conversion rate.

🚀 Test landing pages for both acquisition and retention to reach new and existing customers effectively.

0:00 - Intro

2:15 - Focus on profit per visitor for maximum profit

5:06 - Conversion rate, AOV, and profit

6:24 - Increase conversion rate by addressing customer concerns

7:35 - Risk reversal strategies for better conversion

9:47 - Using videos to boost conversion

10:05 - Highlighting USPs below the buy box

13:16 - Simplifying options and improving visibility

16:39 - Using icons and clearer messaging

23:36 - Personalization in linear funnels

24:25 - Testing different offers for different traffic sources

26:05 - Implementing a more compact buy box with clear options and reviews

27:23 - Highlighting value propositions on product pages

29:03 - Testing different page designs and messaging

31:01 - A/B testing for the most effective design and messaging

32:06 - Pricing strategies like charm pricing and discounts

36:10 - Offering multiple quantities or volume discounts

39:03 - Simplifying the checkout process

46:01 - Implementing upsells in the cart and tiered discounts

46:53 - Final chew Follow us, subscribe to our newsletter, and to see our exclusive merch check out https://chewonthis.io/ Ron Shah - https://twitter.com/obviceo Ash Melwani - https://twitter.com/ashvinmelwani Chew On This - https://twitter.com/chewonthisdtc