Presentation on theme: "People IWS DR Phase 2 Gaining shared vision on next steps November 11, 2008."— Presentation transcript:
people IWS DR Phase 2 Gaining shared vision on next steps November 11, 2008
Intuit Proprietary & Confidential2 Meeting Agenda Results so far (projected per 1M customers) – Identify two key opportunities to change What does change get me – What is the incremental customers and revenue? Closer look at the two key areas – How would we approach change? Discuss best use of our time – What do we want to do now? Possible hypotheses we could test – Summary of learning plan Shared vision on what we do next.
Intuit Proprietary & Confidential3 Results so far Area 1 Area 2
Intuit Proprietary & Confidential4 What do different changes get us? Estimated effect of changing click and drop rates per 1M QuickBooks customers with email open rate of 21% ChangeNone Double clicks80% clicks decrease drops by 13% decrease drops by 20% decrease drops by 30% decrease drops by 50% 80% clicks & 50%<drops Click/open 16,800 33,600 168,000 16,800 168,000 Drop % 14,952 29,904 149,520 13,008 11,962 10,466 7,476 74,760 Abandon % 840 1,680 8,400 1,744 2,226 2,913 4,289 42,890 Complete % 1,008 2,016 10,080 2,048 2,613 3,420 5,035 50,350 Incremental diff0 1,008 8,064 1,040 1,605 2,412 4,027 49,342 Incremental $0 $ 60,480 $ 544,320 $ 62,373 $ 96,284 $ 144,729 $ 241,618 $2,960,496 Est. 1st year $60
Intuit Proprietary & Confidential5 How do we change the % of customers who click? 1.Focus messaging on overcoming barriers uncovered in research to customers without a website. Time was the paramount concern on several levels- Time required to research, evaluate the options, get it built, keep it maintained No clue where to start the research process, feeling overwhelmed with what would be involved Fear that it will be too hard, cant do it on own, not creative or technical enough Sense that their business isnt ready- Waiting for product line to develop, mergers to happen, other business priorities taking precedence Cant afford/ concerns over expense Just starting business- $ is very tight Expectation that websites cost thousands to develop Concerns around finding and working with a web designer Where do I start? How do I know Ive chosen the right one? Cant afford Concerns that it wont be professional or done right - Dont want a fly-by-night supplier Reluctant to hire designer for fear of not having control/flexibility with site- Not wanting to be beholden Some assumed designer was the only choice- Unaware of DIY Area 1
Intuit Proprietary & Confidential6 How do we double the % of customers who click? (cont) 2.Target switcher specific message to customers with a website already – We can target this customer via the registration question currently have a website = YES (~50% of current QuickBooks customers) – Would consider ~25% to be in play based off research This is first website provider 65% Had another provider previously 25% Not sure 10% Base: Total respondents (n=500) Base: (n=126) Current Website Provider First Provider Used? Triggers to Switching Websites Wanting more control and flexibility by doing it on their own – Want ability to make the changes they want, when they want vs. requiring help of web designer – Wanting to customize site to their liking vs. relying on someone elses interpretation Wanting to save money Wanting to save time – Not having to spend time back and forth explaining what they want and reviewing output Frustrated with poor support experiences – Delayed response, having to pay Area 1
Intuit Proprietary & Confidential7 How do we decrease the % of customers who drop off during the shop/buy process? Make the customer feel ready to get started Do not lead with FREE – its really a free trial Get Started - 30-day free trial then just $4.95/month after free trial Message there is NO risk - NO setup fee - NO long term contract. Finding the answers to frequently asked questions should be easy What do I do if I already have a domain name? What is the cost of the different services offered? How much time will it take to get running? Is my site going to look like my competitors? How do I get help if I need it? How often can I edit my site? Is there an additional fee for this? What if I want someone else to do my site for me? Option to have us do the website for them should be easily found so they can go directly to the full-service options. The landing page should not presume they are ready to buy Area 2
Intuit Proprietary & Confidential8 How do we decrease the % of customers who drop off during the shop/buy process? (cont) Keeping customers engaged with the process Utilize follow-up emails to re-engage the customers Customers who clicked on a link but did not complete the sign-up process inviting them to re-engage Customers who opened the email but did not click inviting them to get started with their research now Involvement of phone channel to answer any barriers Placement and messaging on landing page Follow-up emails Outbound efforts Test different types of shop/buy experiences to determine what works best Step-by-step process flow Navigational process flow All-in-one teaser approach (aka Rachel Ray) Area 2
Intuit Proprietary & Confidential9 What do we want to spend our time learning? Limited resources and time means we can not test all items at once. What will move the needle the most? If it is the email messaging, we can develop multiple emails playing off of the different barriers to getting started. Time to deliver – 4-6 weeks (Dec 8 th – 22 nd ) Cost to deliver – $35K – $40K for 5-6 different emails If it is the shopping pages, we can develop multiple shopping experiences and test. Time to deliver – 8-12 weeks (Jan 5 th – Feb 2 nd ) Cost to deliver – $60K – $80K for 3 test If it is a balance of both What is the priority? What would you test now vs. later given the trade-off of time and resources? If we changed the game What if we focused on getting clicks up to 80% and then worried about closing them after the fact?
Intuit Proprietary & Confidential10 Possible hypotheses to test H1: Its the message in the email that matters Time - Dont have the time to get a web site going right now. (Need to get past this inertia, get them to just do it with the knowledge they can easily change it or remove it later); Easy – creating your own website is easy as 1,2,3 Level of Service is high - they are not in the create our company website alone. We have a talented team on the phone ready to answer your questions to help you get your website to the finish line. Great value - cost vs. alternatives such as yellow pages Peer influence- your competition is doing it. Dont stay behind anymore. H2: Having an offer in the email builds a sense of urgency enough to get people to take action now. We will take one of the emails done in H1 and add an offer with an expiration date to see if it gives people an additional reason to get the research process started now. Could lift clicks by 5% H3: Targeting switchers with a switcher message works We would create a specific switcher email and test it against one of the emails done in H1 H4: The type of shopping experience they have after clicking has a significant impact of the number of buys Three different types of landing pages. Step-by-step approach Navigational approach All-in-one teaser approach (aka Rachael Ray)
Intuit Proprietary & Confidential13 Email Results High relevance creative outperformed all other cells in getting QuickBooks customers to the landing page (p value = 0.00) and well above average The light relevance creative was the big loser in driving QuickBooks customers to the landing page (p value = 0.00) No issues with customers unsubscribing across all cells (<.5%) CampaignDeliveredUniq OpensOpen RateUniq ClicksCT Rate CTR % of Open Unsub Rate No Relevance11,4852,65923.15%3262.84%12.26%0.20% Light Relevance11,5532,68723.26%1951.69%7.26%0.16% High Relevance11,5012,91725.36%6385.55%21.87%0.16% AD average 21.78% 3.31% 0.13% SBD average 22.12% 1.67% 0.20% As of 8/17/08
Intuit Proprietary & Confidential14 Conversions versionemailedVisitors% visitAbandons% abandonCompletions% compDrop off page% dropwhat if - complete % comp what if High115017256.31%294.00%375.10%65991%1100.31% Low115532191.90%177.76%209.13%18283%610.17% None114853442.99%174.94%185.23%30990%540.15% TOTAL3527412883.73%634.89%755.82%115089% High relevance and low relevancy conversions – unable to see a sig. difference with this low of a convert rate (p value = 0.06) The high relevance version does complete at a significantly higher rate if I assume the % visited and % comp were to remain constant and project to the entire drop (what if), (p value = 0.00) What if = total emailed x % visit x % complete We are seeing a high % visiting the sight, but the lowest completion % As of 8/4/08
Intuit Proprietary & Confidential15 Homestead Open & Click by list (1 st email) LISTLIST DESCRIPTIONDroppedOpenedOpen %ClickedClicked %click % of open 1002008 QB Prem11705 298725.52%211 1.80%7.06% 1012007 QB Prem30000 611420.38%388 1.29%6.35% 1022006 QB Prem22500 378616.83%240 1.07%6.34% 1032008 QB Pro39900 937423.49%499 1.25%5.32% 1042007 QB Pro110000 2051218.65%995 0.90%4.85% 1052006 QB Pro92000 1530216.63%801 0.87%5.23% 1062008 QB Simple Start10000 254225.42%242 2.42%9.52% 1072007 QB Simple Start21500 350916.32%368 1.71%10.49% 1082006 QB Simple Start10500 141113.44%114 1.09%8.08% 1112008 Qkn H&B21100 681032.27%580 2.75%8.52% 1122007 Qkn H&B40500 7871.94%54 0.13%6.86% 1132006 Qkn H&B36100 5871.63%34 0.09%5.79% TOTAL44580573721 16.54% 45261.02%6.14% No surprise that recent buys responded better. The small company list, SS & Qkn H&B had better CTR
Intuit Proprietary & Confidential16 Hypothesis tabled The following two hypothesis were table because they would mean a change in current business model in selling IWS. – Letting the customer go all the way up to publishing before asking for the CC increases the number of paying customers. This would place the CC barrier as far back in the shopping process as possible without giving it away for 30-days. – Letting the customers have 30-days free before asking them for the CC This would allow the customer to own the website for 30-days before we force them to give us a CC. – Introducing a vanity page I the shopping process where the customers can browse and play with the 2000 templates without obligation leads to more customers. Maybe we could do a mirror of the current site? Need to get the web team at IWS involved in how we could do this.
Intuit Proprietary & Confidential17 All in one teaser approach (concept)