Opticon 2017 Hooked: How to Succeed
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Hooked: How to Succeed in the Subscription Economy
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Opticon 2017 Hooked: How to Succeed
- 1. opticon2017 Kimberly Kaufman Director, Digital Marketing Optimization SHOWTIME Peter Gray Director, Optimization Dow Jones Hooked: How to Succeed in the Subscription Economy
- 4. SITE PRIORITIES Drive deeper engagement to retain subscribers Drive consumption of SHOWTIME programming Drive subscriptions 1 2 3
- 5. WAYS TO SUBSCRIBE & WATCH
- 9. Cable Providers SUBSCRIPTION LEADS AS KPI
- 10. CASE STUDY NO.1 ORDER TRAY
- 12. ORIGINAL VARIATION 1 VARIATION 2 +57 %
- 13. STREAMING MODALCASE STUDY NO.2
- 17. vs. +18 2%
- 18. +16 1% vs.
- 19. +7% vs.
- 20. +7%
- 21. HARE OF ORDER CLICKS WITHIN STREAMING MOD 2016-2017
- 26. +10 % +14 %
- 27. opticon2017 KEY TAKEAWAYS • Using device detection to enhance user experience is a valuable way to impact KPIs • A significant increase in one metric might have a negative impact on other metrics on the page • Never stop iterating – meaningful growth can be seen over time through testing • Validating ideas through testing is a great way to gain insight into what to test next
- 29. Peter Gray 24 Months of Optimization at WSJ
- 30. NET GROWTH OPTIMIZATION The most powerful product development discipline on earth? What do we do? Before we dive in . . .
- 31. Here’s Why = A B
- 33. NET GROWTH OPTIMIZATION THE NON-AGENDA WHAT WOULD BE MOST USEFUL TO YOU. HIGH LEVEL RECIPE FOR OUR SUCCESS GETTING CREDIT WHEN PERSONALIZATION? NOT SKIPPING THE LOW HANGING FRUIT
- 34. NET GROWTH OPTIMIZATION Taking Stock
- 35. Letting the optimization beat build Metric 1st 6 Months Since Tests 3 216 Tests/Month .5 9.8 Team 1 5 Standalone team formed summer 2015 as part of subscription business unit. Sole starting KPI: Acquisition
- 36. Optimization is Spreading The Nobel Prize for Clever Mind Games Goes to… Optimization Center for Excellence
- 37. What’s Our Recipe A great partner agency Evangelism Velocity Ruthless prioritization $ value for our work
- 38. NET GROWTH OPTIMIZATION How To Get Credit
- 39. Getting Credit What about the fat cats? The big dogs? Do you know your own ROI?
- 40. 37% LIFT Why Not A: 50% B: 50% The only path to proper respect: a validated numerical value 100%
- 41. So what did we do The Back Test
- 42. The Back Test Jan 2016 Shop + Checkout Combined June 2017 Shop Checkout
- 43. The Back Test 51% TOPLINE ORDER LIFT
- 44. The Back Test The Model Optimization Order Calcs 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Total WSJ Orders 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 Optimization Orders 2.8 5.7 8.5 11.3 14.2 17.0 19.8 22.7 25.5 28.3 31.2 34.0 36.8 39.7 42.5 45.3 48.2 51.0 Cumulative Uplift 2.8% 5.7% 8.5% 11.3% 14.2% 17.0% 19.8% 22.7% 25.5% 28.3% 31.2% 34.0% 36.8% 39.7% 42.5% 45.3% 48.2% 51.0% Incremental Uplift 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8% 2.8%
- 45. The Back Test The Final Calculation 51% Lift 18 Months 2.8% Lift/Month 1,800 Total Orders 26.9% % of Total Orders $1 NPV of a WSJ Order 485 Optimization Orders $485 Optimization WSJ Acquisition Benefit
- 46. NET GROWTH OPTIMIZATION WHEN PERSONALIZATION?
- 47. Define P-E-R-S-O-N-A-L-I-Z-A-T-I-O-N A fluid display because of things we know about the individual user on the other side of the screen. in which each component, in each digital moment, is what it is ALGORITHMIC CONTENT DISPLAY
- 48. There is only one way to get there Testing, Testing, Testing One size fits all Segment-based experiences 1:1 Personalization Making experiences for segments and then individuals is extremely expensive. Each new specialized treatment needs to beat the one-size-fits-all experience to justify itself. Many one-size-fits-all learnings will always win.
- 49. Skipping the Low Hanging Fruit One size fits all Segment-based experiences: segment- based content display 1:1 Personalization: algorithmic content display Basic Nav Evergreen copy that always wins Basic design
- 50. NET GROWTH OPTIMIZATION DON’T BELIEVE ME? LET ME SHOW YOU WHAT YOU’LL MISS.
- 51. A QUOTE FROM A DREAMER “SMALL EMOTIONS ARE THE GREAT CAPTAINS OF OUR LIVES.”
- 52. NET GROWTH OPTIMIZATION LOW HANGING FRUIT: ACQUISITION CUT THE FAT. ADD A LITTLE COLOR. TELL THEM WHAT YOU THOUGHT THEY ALREADY KNEW. TIME AND PLACE THE EYE IS A MUSCLE.
- 53. CUT THE FAT 23% Order Uplift
- 54. ADD A LITTLE COLOR 110% Order Uplift
- 55. TELL THEM WHAT YOU THOUGHT THEY ALREADY KNEW +37% Order Uplift
- 56. TIME AND PLACE +18% Order Uplift
- 57. THE EYE IS A MUSCLE +21% Order Uplift
- 58. NET GROWTH OPTIMIZATION LOW HANGING FRUIT: ENGAGEMENT THE HAND IS A MUSCLE. CONNECT THE PIPES.
- 59. Valuing Engagement and Product Testing Onboarding Action Newsletter + iOS Log In Logs Into iOS App Subscribes to a Newsletter The only engagement metric that matters: If a member does X, did they stay longer? $ Value/Instance $40 $34 $30 Churn Reduction -35% -29% -26% Churn Impact of Customer Actions
- 60. THE HAND IS A MUSCLE WSJ.comCheckout
- 61. THE HAND IS A MUSCLE + 78% Newsletter Signups + 117% App Downloads
- 62. CONNECT THE PIPES +975% App Downloads ?
- 63. THE PRINCIPLES TEST EVERYTHING. PRIORITIZE. DEFINE YOUR VALUE. GO BIG. DON’T SKIP THE LOW HANGING FRUIT.
- 64. NET GROWTH OPTIMIZATION THANK YOU. PETER.GRAY@DOWJONES.COM 646.483.7438 @pgdeepthoughts
- 65. opticon2017 Q&A
- 67. Reminder: Don’t forget to join us for our Opticon Party from 6:30PM-9:30PM at Brooklyn Bowl Last But Not Least… • Wifi info: Username: Opticon / Password: opticon17 • Download the Opticon mobile app • Get social using #opticon2017 • Rate each session within the mobile app agenda by clicking on “take survey” • Take the maturity model assessment at optimizely.com/maturity-model • Slides will be available after the event