Optimizing sales of online shopping cart within the digital customer life cycle
Heinonen, Kalle (2010)
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The purpose of this thesis was to demonstrate the optimization of sales online within the digital customer life cycle. Within this thesis research the objective was to test and analyze whether an automatic testing and targeting of different versions of content would optimize the case company's online shopping cart success. The case company's online shopping cart success was determined to be measured by five major key performance indicators; increasing the shopping cart conversion rate, increasing the average order value of the shopping cart, increasing the revenue per visitor of the website, lifting the overall turnover of the website, and producing these KPI's with confident data. The methods used were A/B testing, Multivariate testing and behavioural targeting. Tools and systems used to conduct the research with set methods were Omniture's Test and Target and SiteCatalyst for web-analytics. In this thesis the customer life cycle model used is the one of Steve Jackson's REAN model. The REAN model helps to define the phases and functions to be measured and analyzed with web-analytics. These REAN phases consist of reaching the prospects, engaging and activating visitors and nurturing the customers. Applying the strategies and tactics of shopping cart recovery together with web-analytics and testing and targeting methods will result in the action research framework used within this research. The application of this research was a success. The tools were working well and towards the goals, and results are shown with respectable data. During the research the effect of optimizing shopping cart success with A/B and Multivariate testing was proven and the case company was able to see tangible increase in their revenue per visitor and overall shopping cart success. The definite challenge for thesis was to find adequate and up to date sources. The researcher is a professional, inventor and author of Web analytics and Online Marketing Optimization himself and therefore most of the content is produced by the researcher and only the most current and up to date sources have been used within the text. The Appendix 1 of this research shows also a list of secondary sources that assist in understanding some of the concepts and other ways and views for the research topic.