Ahead of the global Growth & Conversion Virtual Summit, which takes place on May 2nd, we asked some of the featured expert speakers for their top tips into how to growth hack your business. Without further ado, we share their insights below.
#1: Use a Strategic Approach to Harness the Power of Personalization
Personalization is all the rage right now. And with good reason! This customer-centric strategy has major potential to motivate consumers to purchase. Plus, more and more experimentation platforms are enabling personalization.
But the rise of personalization tools and popularity has meant the rise of marketers doing personalization the wrong way…
Before you start investing in visitor segments and personalized experiences based on guesswork and crossed fingers, consider the four most common personalization mistakes:
- Ad hoc implementation of off-the-shelf tool features without understanding what need these features are solving.
- Poor personalization insights with little data analysis and a framework that drives the implementation of the program.
- Lack of a rigorous process to hypothesize, test, and validate personalization ideas.
- Lack of resources to create the many additional marketing messages needed to support multiple, personalized target segments.
Effective personalization is all about the strategy behind the tactic. In my session at the Growth & Conversion Virtual Summit, I’ll show you how to avoid the mistakes above, and personalize in a sustainable, revenue-impacting way.
- Speaker name: Chris Goward, Founder & CEO, WiderFunnel
- Session title: Segment, personalize, optimize: Unlock your brand’s hidden growth potential with a winning process
- Session time: 10:40 am to 11:20 am PST
#2: Analyze Both Quantitative and Qualitative Data Holistically
Being data-driven is the Holy Grail of marketing, and honestly, who does not call themselves “data-driven” these days?! But there’s more to being “data-driven” than just saying it. It’s a lot harder to find out what data you actually need and how to combine both quantitative and qualitative data sets, and analyze problems from different viewpoints.
Quantitative and qualitative data are both abundant, but are also frequently siloed. In our work, we have been able to use quantitative data to find out WHAT goes wrong in the conversion process and WHERE. Then we use qualitative methods to answer the question WHY. If you are into optimization, this is the only question that really matters.
In this session, I will dive into the move from demographic and media data into behavioral data. You’ll learn how quantitative and qualitative data complement each other and how to make growth magic happen.
- Speaker name: John Ekman, Chief Conversionista, Conversionista!
- Session title: How to read (and leverage) your customer’s digital footprint
- Session time: 6:30 am – 7:10 am PST
#3: Get Formal With Your Experimentation
If you want to excel at experimentation, follow the lead of those that have already done so by leaving nothing to chance. Before you begin to conduct any experiments, establish a solid foundation that helps align all participants on optimization goals, milestones, and program commitments.
Essentially, you call upon an experimentation methodology centered on a framework and workflow that makes it possible to streamline processes at every step. By doing so, you set yourself up for world-class experimentation that yields hard-hitting optimization. Even if your organization is new to formal experimentation, it can benefit significantly by figuring out best approaches and future costs ahead of time.
In this session, discover how to remove bottlenecks and unify siloed teams by formalizing an experimentation methodology, foster latent creativity in your team by instituting a regular intelligence reporting process and ensure focus by benchmarking your team’s output with operational metrics.
- Speaker name: Hudson Arnold, Strategy Consultant, Optimizely
- Session title: Operationalizing Experimentation at the Enterprise
Session time: 8:10 am – 8:50 am PST
#4: Optimize the Optimization Process
A common misconception is that the ROI of optimization is solely based on implementing adequate A/B testing. But in reality, organizations can generate even higher ROI from their optimization programs by streamlining the optimization process.
In particular, it pays to create bold hypotheses grounded in multiple sources of data and then prioritize which hypothesis to test first.
With this in mind, at Web-Arts, we developed an optimization model we call the “Growth Canvas.“ We did this by analyzing the key components of the optimization programs and optimization teams of fast-growing and profitable companies such as Amazon and Booking.com. Using our model, CRO managers can connect disciplines such as experimentation, personalization, conversion design etc. to build a robust optimization program generating high ROI.
Join this session to learn the 5 main pillars of this model:
- Where conversion actually happens (it’s not where you think)
- Building a business plan for an optimization program
- Connecting qualitative and quantitative methods to discover the best insights
- How to prioritize hypotheses
- The disciplines that make up a successful optimization program
- Speaker name: André Morys, CEO, WebArts
- Session title: The Growth Canvas: A simple model for more business growth
- Session time: 4:00 pm – 4:40 pm PST
Go Big(ger) With Your Experimentation
Personalization and optimization are the cornerstones of a web presence that engages and converts. With so much on the line—and so much potential for huge returns—it’s shortsighted to stop at the basics, without a strategy in place. Put the four tips outlined here into play, and you’ll be on your way to taking your optimization and personalization efforts to the next level—and driving bigger results.