Optimizing Email Signups How Fidelity Investments boosted email signups Scott MacMillan Director Digital Testing & Optimization Fidelity Investments
Session Speaker Scott D MacMillan Director Digital Testing & Optimization Fidelity Investments Scott MacMillan leads the testing program at Fidelity Investments, with an aim of increasing visitor engagement and conversion. Previously, he has held various data driven marketing and product management roles in multiple industries. Scott earned a BS Marketing from Lehigh University, and is a graduate of Northeastern University’s High Tech MBA program. He is very @scottdmacmillan active in the analytics community, serving as co-leader of the DAA Boston Chapter, Founder of the New England Digital Analytics Roundtable and serving on the Which Test Won Advisory Board. Scott lives north of Boston with his wife, two sons and dog. 2
Why Am I Up Here? • The Problem • Large marketing investment in campaign to generate leads by driving email newsletter signups via a landing zone. • Post-launch the actual % of visitors completing email signups was less than 10% of the target %. • Marketing partners were feeling that goal was unattainable How could we help salvage as much value from the marketing investment by increasing the signup %?
The Campaign Components Display ads and Link takes offline visitor to media email drive to signup the form… landing zone
The Campaign Components …the email signup form Button takes visitor to confirmation page
Our Approach Let’s win the next period. Considered three steps 1. Getting more visitors to the landing zone 2. Getting more landing zone visitors to the signup form 3. Getting more signup form starters to become completers
Optimizing Email Signup Starts Original Test
Experiment 1: Results > 100% increase in email signup starts and completes Email link Completion Tab CTR Rate PageViews Control – without callout 1.2% 53% 14,779 Treatment – with callout 2.7% 53% 14,706 Relative Difference >100% 0 - 73 ! What You Need to Understand : Dramatic change had dramatic lift while not negatively impacting form completion rate, nor overall landing zone engagement Note: Numbers in table are illustrative 9
Our Approach Getting closer. Let’s win the next period. Considered three steps 1. Getting more visitors to the landing zone 2. Getting more landing zone visitors to the signup form 3. Getting more signup form starters to become completers
What would you change?
What We Did • Email start to email finish • Applied Optimization techniques from Summit in Denver: • Visual changes • Internally: do we have anything similar that we’ve done • Email signup for viewpoints looked at data. VP performing better, what does that page look like? Bingo. • Challenge: page managed by different group. Can’t test enable page. What would you do? • We rolled the dice and made the changes directly.
Email Signup Process Comparison Which had the better completion rate? a) Top b) Bottom c) Even Add Confidentiality Label
Before & After Changes based on techniques learned at Optimization Summit ‘12: • Lightened the overall look and feel • Replace bulky bullet pts with categories from the email • Utilize graphics • Simplified the message above the fields including frequency of subscription • Included language of how the email will benefit the user. Less about us. • Moved fields outside the box • Eliminate second email address confirmation field • Update orange button to “sign up” • Include language that subscribers will only receive the PE enewsletter
Experiment 2: Results > 25% increase in email signup completion rate Email Signup Completion Rate Control – original signup form 39% Treatment – optimized form 53% Relative Difference > 25% ! What You Need to Understand : Following a methodical optimization approach can work Note: Numbers in table are illustrative 15
The Final Score Don’t give up. Apply sound techniques. One period at a time. 16
Thank You Scott D MacMillan Director Digital Testing & Optimization Fidelity Investments scott.macmillan@fmr.com
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