|
|
you are here:
home >
>
>
Case Study - PowerOptions®
"When we started this engagement we were hoping for a reasonable increase in our Free Trial conversion rate. We never thought that our sales would increase 75% by simply changing our website. Thank you SiteTuners!"
- Ernest Zerenner - President, Power Financial Group, Inc.
|
Services: Full service conversion tuning engagement using A-B Split Testing.
Background: PowerOptions® offers stock option research software that allows its clients to trade options like a pro. The whole universe of over 200,000 stock options is available in a sophisticated and flexible suite of tools for research and decision-making. The company has been featured in a number of financial press outlets including Forbes, AAII, Active Trader Magazine, Online Investor Magazine, the New York Post, and the Nightly Business Report.
The Engagement: PowerOptions® is so confident of its services that it offers an unrestricted free trial of its software with no strings attached (and without requiring a credit card number upfront). After the trial is complete, many visitors sign up for its paid services. The goal of the engagement was to increase the number of free trial signups (and eventual paid sales).
Because of the limited data rate from the traffic source being tested, the engagement was designed as a simple A-B-C Split Test. The original version was tested against two alternatives that were complete redesigns of the free trial sign-up process.
The Results: At the end of the test, the best champion was run head-to-head against the baseline, and showed a 75% lift in conversion rate. The conversion rate from trials to paid clients of the new version stayed the same - showing that the quality of the leads was comparable. The bottom line impact of this change on PowerOptions® was an estimated $200,000 annual profit improvement.
|
