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Conversion = value - cost + persuasion, or: How to sell the carrot

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Regardless whether we’re offering customers a new product or feature or just try to figure out why so little people sign up to our newsletter: When trying to get people to do what we want them to do, I find it helpful to ask three questions:
- What is the value for them, and how can we increase it?
- What is the investment they need to make in return (time, effort, data, money), and how can we lower it?
- What is their perception of both, and how can we influence it?

My talk propses a small framework I’ve developed that helps me to map these three factors and discover optimization potentials to formulate the right research questions.

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Conversion = value - cost + persuasion, or: How to sell the carrot

  1. 1. #UXCE16, Berlin, June 25 2016 | Rupert Platz | @r000pert Value,Cost&Persuasion or:howtosellthecarrot
  2. 2. Usersaresupposedtodosomething.
  3. 3. • look? • read? • understand? • click? • register? • create a profile? • log in? • subscribe? • follow / like / add? Will they ... • give app permission? • use feature? • recommend? • contact? • download? • contribute? • participate? • buy? • return?
  4. 4. • win prospects? • win customers? • engabe customers? • retain customers? ... so that we might... • sell products? • obtain data? • get our message across? • relieve other channels? • etc.
  5. 5. It‘s not about whether they can. Susan Weinschenk: 7 principles that make your website more engaging youtube.com/watch?v=3J85SUZFXNM Design for usability
  6. 6. It‘s about whether they will. Susan Weinschenk: 7 principles that make your website more engaging youtube.com/watch?v=3J85SUZFXNM Design for usability Design for action
  7. 7. Conversion= Usersactinawaythathelpsus achieveourgoals.
  8. 8. Set KPIs, track, change, compare, optimize
  9. 9. Best practices, patterns and standard recipes galore theultralinx.com/perfect-landing-page commerce-persuasion-strategies-gender-divide
  10. 10. The bag of psychological design tricks Susan Weinschenk: 7 principles that make your website more engaging youtube.com/watch?v=3J85SUZFXNM
  11. 11. „You can put lipstick on a pig, but it‘ll still be a pig.“ CC flickr.com/photos/atwatervillage/2847838478/
  12. 12. A good conversion rate optimization (CRO) process seeks to form well-informed test hypotheses. conversionxl.com/wp-content/Essentials-of-Conversion-Optimization-by-ConversionXL.pdf Technical analysis Qualitative heuristic walkthrough Web analytics analysis Mouse tracking analysis Qualitative research / surveys Sum-up and translate into test hypotheses User testing 1 72 3 4 5 6 Define areas of improvement – based on experience & existing customer knowledge
  13. 13. Firstquestiontoask: Whichtricks&tweakscanweuse togetmorepeopletoacttheway wewant?
  14. 14. Firstquestiontoask: Whyshouldtheywanttoact? What‘sinitforthem?
  15. 15. Peoplewillonyactthewaywe wantiftheyseeavalueindoing so.
  16. 16. That‘swhyallconversionsare transactionsinthefirstplace,not manipulations: Anexchangeofvalueforcost.
  17. 17. get some value: As a user, I want to... invest some value: In exchange, I have to... • Achieve a task • Solve a problem • Satisfy a need • My time • My mental effort • My data • My money €
  18. 18. Perceived value needs to exceed perceived cost. > €
  19. 19. And if it doesn‘t: What can we do about it? Raise value? Lower cost? Influence perception? €
  20. 20. „Threereasonswhyyourvisitorswon‘t convert: -Theydon‘tneedit. -Theydon‘twantitenough. -Theydon‘tgetit.“ startupgrind.com/blog/the-three-reasons-why-your-visitors-dont-covert/ Laura Klein, author uf „UX for lean startups“
  21. 21. Valuevs.cost
  22. 22. • Attractiveness of value • Pressure of situation • Context of action • Alternate solutions How compelling is the value? (or: is the carrot big enough?) I love fresh, crunchy carrots! I need to cook something this evening! I‘m standing near the vegetable shelf. My fridge is empty, the next supermarket is far away, I can‘t cook the recipe with tomatoes.
  23. 23. Value: Example: Check my frequent flyer miles Knowing how many miles I was credited for last weeks‘ flight • Attractiveness: Medium • Pressure: None • Context: Random • Alternate solutions: Don‘t do / do later
  24. 24. Value: Example: Check my frequent flyer miles Cost: Knowing how many miles I was credited for last weeks‘ filght 6. Check my mileage account 1. Take smartphone and unlock 2. Select & start browser app 3. Search & find airline website 4. Search & find frequent flyer login 5. Enter username & password 6. Task Shifts are costly: Must do A & B to achieve C -> Cost adds up throughout the process
  25. 25. 1. Go to online shop 2. Select categories / set filters 3. Narrow down selection 4. Select product 5. Select color & size 6. Enter adress, payment data, t&c, ... 7. Complete purchase Value: Buy shoes online Cost: Need new shoes! € 8. Wait for delivery 9. Receive / collect delivery 79,80 € Breaks are costly: - Wait - Change medium - Change location - Switch applications - Switch device
  26. 26. Value: Who‘s interested in me? See who‘s visited your Linkedin profile Cost: 1. Click link in email 2. See profile visitors on website
  27. 27. (Linkedin 2016 vs. 2012) thenextweb.com/insider/2015/08/16/when-pain-is-a-good-thing/
  28. 28. Value: Who‘s looked at my profile? See who‘s visited your profile Cost: 1. Click link in email 2. See profile visitors on website Sucessful transaction: If value is high enough, cost may be raised above minimum
  29. 29. Value: II want a 0.05% higher interest on my money. Open a daily allowance account in germany Cost: 1. Enter personal data (25 fields) 2. Select username (6-12 characters + numbers) 3. Read and accept terms & conditions 4. Read & unterstand next steps 5. Print PostIdent coupon 6. Go to post office, wait in queue 7. Have identification check made 8. Wait three days 9. Receive confirmation mail: ID checked 10. Wait another three days 11. Check bank account for test transfer
  30. 30. Value: II want a 0.05% higher interest on my money. 8. Wait three days 9. Receive confirmation mail: ID checked 10. Wait another three days 11. Check bank account for test transfer 12. Open confirmation mail again 13. Download PDF instructions & read 14. Go to login page of bank 15. Enter user name 16. Take smartphone, receive mTAN 17. Read & type mTAN in field 18. Select password (6-12 characters + numbers) 19. Define two security questions 20. Enter test transfer amount 21. Transfer your money to new account Bad deal: Value too small, and ridiculously overpriced
  31. 31. New online identification procedures: Less cost instead of higher value
  32. 32. What‘sthealternativetoour valueoffering?
  33. 33. Compare competitors and alternate solutions: Our offering: Competitor: Current Solution: Do nothing:
  34. 34. B2B app for beverage wholesale ordering Take smartphone Turn on & unlock Swipe to homescreen #2 Select/ start ordering app Select type of beverage Select product / flavour Value: Cost of using app: I need to reorder 50 crates of lemonade for my restaurant. Date & adress of delivery Submit order Bottle size / quantity Pick up fixed line phone Call contact #5 Cost of calling salesman: „Same as last week?“ „yes.“
  35. 35. BMW remote app Take smartphone Turn on & unlock Swipe to homescreen #2 Select & start BMW app Select unlock function Press „unlock“ Value: Cost of app: I want to drive home. Sit inside Start engine & drive Open door Take key Unlock car Cost of using key: Sit inside Start engine & drive Open door boagworld.com/marketing/users-will-always-choose-the-easiest-option
  36. 36. Balancingvalue&cost
  37. 37. Value: Ingredients app for large restaurant chain Knowing about the ingredients in the food & where they come from 1. Take Smartphone, turn on, unlock 2. Find & start app store 3. Find restaurant app 4. Download & install restaurant app 5. Find & start restaurant app 6. Select receipt scanner function in app 8. See & read content on ingredients Cost: 7. Scan code on receipt
  38. 38. Value: Can we lower the cost? Knowing about the ingredients in the food & where they come from 1. Take Smartphone, turn on, unlock 2. Find & start browser 3. Type in short vanity url on receipt 4. See & read content on ingredients website Cost:
  39. 39. Value: Can we increase the core value? Knowing about the ingredients in my dish today & where exactly they come from 1. Take Smartphone, turn on, unlock 2. Find & start browser 3. Type in short vanity url on receipt 4. Give page location permission Cost: 5. See & read content on ingredients website
  40. 40. Value: Can we offer additional value? Knowing about the ingredients in my dish today & where exactly they come from and get a 20% off on next meal + Cost: 7. Redeem coupon 6. Downlad coupon € 1. Take Smartphone, turn on, unlock 2. Find & start browser 3. Type in short vanity url on receipt 4. Give page location permission Cost: 5. See & read content on ingredients website
  41. 41. Can we lower the cost even more? Cost of a printed flyer: Too cheap: We need CRM data and trackability! Value: 1. Take Flyer 2. See & read content on ingredients Knowing about the ingredients in the food & where they come from
  42. 42. Checklist
  43. 43. Could we offer something more... • substantial? E.g. comprehensive study, not just a one-page whitepaper • specific? E.g. recipe newsletter specifically for vegan gourmets • individual? E.g. “your fastest way to work now“, not just city traffic news • unique? E.g. „the only email client you can transfer money with“ Increase value #1: Quality
  44. 44. Would it help to offer ... • larger amounts? 20 GB, not just 10 GB / 2 months free trial, not just one • higher frequency? Daily updates, not just weekly • additional value on top? “15% off on all products if you subscribe to our newsletter“ Increase value #2: Quantity
  45. 45. How can we reduce ... • task shifts? Do users absolutely have to log in to see our price list? • breaks? (change of software, device, medium, location ...?) Can‘t people answer directly within their email client? • waiting time? Why does it take three days to activate new accounts? Lower cost #1: Leass shifts, less hurdles
  46. 46. More minimalistic? Help and examples? Smart Defaults? More intuitive? Personal data import? Selection recommendation? Lower cost #2: More flow, less cognitive load Susan Weinschenk: 100 things designers should know about people, 2011
  47. 47. Do we really really need ... • title, gender, first & last name, mobile + fixed line number, exact birth date, etc. (at this point)? • App permission to access photos, contacts, location, ...? • Cookie permissions? Lower cost #3: Ask for less data?
  48. 48. Caution: Makingitchaperdoesn‘tmean it‘sbetter.
  49. 49. Distinguish: mandatory vs. nice-to-have costs. Essential for function / compliance (feasibility) Essential for business goals (viability) Everything else: Kill it! Value: Cost: Space for discussion 
  50. 50. Business goals: What do we want to attain? Quality or Quantity? Set cost as low as possible Convert much Set cost as high as necessary Convert well - Online-Shops - Well-known products - App permissions - Lead qualification (e.g. dating, recruiting) - User gen. Content quality - Complex / products
  51. 51. And,finally,thelipstick: Tellthetruthwell.
  52. 52. How can we show the deal from its best side? Increase value Lower cost Influence perception €
  53. 53. Users need answers to six questions: What‘s in it for me? Promise value What do I have to invest in return? Disclose cost Why should I trust you? Deliver proof How does it work? Explain solution How is it superior? Differentiate Why should I do this now? Trigger action
  54. 54. What‘s in in for me? Show the value effect: I want that, too!
  55. 55. What‘s in it for me? Communicate value effect rather than features blog.intercom.io/give-your-customers-best-practices-not-just-faqs/
  56. 56. How does it work? Show concrete, realistic examples
  57. 57. How is it superior? Refer to the pain of current solutions
  58. 58. What do I have to invest? Be transparent about the deal, show cost advantages
  59. 59. Freebies / Try before you buy Guarantees Trust brands Data proof Social proof Reference brands Why should I trust you? Deliver credible evidence
  60. 60. Why should I act now? Ask for the investment when the value is most evident Contacts access permission given: • On app onboarding: 67% • On sharing first photo: 99%
  61. 61. Why should I act now? Create a sense of urgency. Call to Action Scarcity / FOMA Cost of not acting
  62. 62. • Value beats feature • Story beats description • Proof beats promise • Genuine beats fake • Supporting beats manipulating Make-up tips: All to be proven with data for your particular project (just like anything said in this talk)
  63. 63. Checklist: Define areas of improvement to develop your hypotheses. Increase value: More substance? More specific? More individual? More unique? Higher amount / frequency? Lower cost: Less task shifts? Less breaks / waiting time? Less data? Less money? Influence perception: Sharpen value promise? Explain more concretely? Convey uniqueness? € Make cost transparent? Deliver proof? Trigger action?
  64. 64. twitter.com/r000pert linkedin.com/in/rupertplatz xing.com/profile/Rupert_Platz slideshare.net/r000pert/ Thankyou!

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