Always be testing. Especially when it comes to improving mobile conversion.
Mobile accounts for more than half of eCommerce traffic (50.48%). Despite this seemingly substantial opportunity, the gap between mobile and desktop sales persists. In fact, mobile continues to hold the highest shopping cart abandonment rate (85.65%) compared to desktop and tablet. The eCommerce industry commonly refers to this discrepancy between traffic and sales as the mobile conversion gap.
For many merchants, this gap leads to pulling levers in hopes of revealing some definitive best practice or improvements. Often they’re only left with more questions and an ever-growing need to improve mobile conversion.
Many start with A/B testing since it’s the least complex method of improving conversions. However, this approach assumes that consumer behavior is homogeneous and static. It has no real-time adaptive intelligence to limit potential lost revenue from failing experiments, or account for changes over time.
Further tests need to be run for a long time before statistical significance can be reached. This results in slow iteration cycles and often disappointing results.
The eCommerce landscape is dynamic, and any successful testing approach must be as well. The collective intelligence aggregated from community-based conversion rate testing through the Mobile Optimization (MOI) provides richer and actionable insights for merchants and eCommerce technologists.
Discover how the MOI approach to testing differs from other more traditional testing methodologies through four key areas to improve mobile conversion:
- Collective Intelligence
- Accelerated Learning
- Actionable Optimization Insights
- Mobile-First Approach to Improve Mobile Conversion
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Why You’re Probably Fed Up with A/B Testing
With static experimentation methods like A/B testing, there’s time and risk associated.
It can take many weeks to reach statistical significance and it’s only possible to run one test at a time.
As mentioned, if the experiment has poor performance there is potentially lost revenue for the duration. And, whether the testing is being done in-house or outsourced, a major drawback can also be the time to initially research, implement, and then setup and maintain these tests.
The MOI community mitigates the time and risks associated with traditional A/B testing, by giving merchants access to pre-configured standardized experiments and a community-based testing platform.
What Makes the MOI Different?
Here are four of the key benefits of the MOI you won’t find with traditional testing methods:
1. Collective Intelligence
Unlike other optimization services, the MOI is designed to help merchants collectively learn and improve mobile conversion. To make this happen, participating merchants are given access to a growing bank of pre-configured optimization tests that can be applied to their sites based on relevance.
The anonymized data from these tests are fed back into the MOI community where merchants can see how the tests performed against their peers.
This collective approach is important as it helps merchants unlock learning from a much broader data set than can be provided by a single optimization campaign. With broader data sets, merchants are able to make better decisions on the best optimization for their sites.
2. Accelerated Learning
Anonymized aggregate data from experiments in the MOI gives merchants accelerated learnings on which optimization could have the highest impact on their own eCommerce sites. With more traditional testing, learnings are collected from a much longer time span, as it takes time to collect data to reach statistical significance.
The MOI, on the other hand, works with millions of data points simultaneously — providing merchants with continuous and substantial aggregated data. As a result, merchants no longer have a lengthy wait time before seeing how A/B optimization tests are performing. Instead, they can rely on the collective data from the broader community for accelerated optimization.
3. Actionable Optimization Insights
From marketing and shipments, to tax issues and checkout, eCommerce merchants have a lot on their plates. But better conversions tops the list. After all, better conversions lead to more sales; and revenue growth is what every merchant needs to survive.
Unlocking the secrets to optimization in isolation can be very difficult. With new consumer trends and eCommerce tactics emerging continuously, staying on top of the optimization game is a huge challenge for many merchants.
By leveraging aggregated data from standardized tests, the MOI continues to provide insights for merchants to make actionable optimizations for its member merchants.These shared insights enable merchants to keep pace with optimization trends, and as a result, take action over their peers much quicker and more efficiently.
Continuous optimization is the key. If initial experiments are not producing expected results, the ongoing data collection and analysis provides invaluable insights into the unique visitor preferences for your specific brand. Each experiment builds on the previous results, enabling a convergence towards the highest performing optimization combinations for your audience.
Finally, the experiments are continuously monitored by adaptive algorithms that allocate traffic away from poorly performing experiments in real time, reducing the risk of lost revenue.
4. A Mobile-First Approach to Improve Mobile Conversion
The MOI is the ONLY initiative focused on improving mobile conversions. The mission of the Mobile Optimization Initiative is to help merchants close the mobile gap and take advantage of the huge mobile opportunity before them.
The standardized MOI tests take a mobile-first approach, with pre-configured optimizations for checkout, shopping cart, and product page improvements.
The added bonus is these mobile-specific treatments often have a positive lift when applied to desktop. Ongoing CX improvements and optimizations enhance mobile and desktop experiences, creating a compounding revenue growth effect for all devices.
According to the Total Economic Impact™ study commissioned by the Mobile Optimization Initiative, participating merchants can expect:
Reduced friction and improved mobile checkout CX drive compounding revenue lift of 9% to 15%, impacting both mobile and desktop. Successful optimization experiments result in increased Revenue per Visitor (RPV) and checkout funnel conversion rates, supporting top-line revenue growth. Over three years, the improved checkout experiences were worth more than $264K of net income to the organization.
We are in the midst of a fast-growing mobile eCommerce revolution — and that revolution is creating both opportunities and challenges for today’s eCommerce merchants.
Using collective intelligence from community-based conversion rate testing not only reduces time and risk, it’s the best way to take real steps towards closing the mobile conversion gap.
Standardizing experiments and sharing data across the Community helps merchants optimize their sites faster than they could in isolation — closing the gap between desktop and mobile conversions and ultimately driving more revenue. The results speak for themselves. As of September 15, 2019, members of the Mobile Optimization Initiative have seen an average increase in Revenue per Visitor of 7.12%.
Join the Mobile Optimization Initiative and start benefiting from community-based mobile conversion improvements
Through collaboration and standardized testing, merchants can conduct advanced testing more efficiently and gain from the learnings of others. The Initiative is free to join and offers the following for qualified merchants:
- Sponsored use of the community testing software for 60 days
- Sponsored support from experienced conversion optimization specialists
- Access to over 130 standardized optimization experiments
- Global insights into optimizations to improve mobile conversion
Join this growing community and access next-level testing and optimization experiments.