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6 Ways to use Behavioural Psychology to Drive Conversions & Grow Revenue

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This webinar will highlight how both Yieldify and Trustpilot were able to help OVO energy and other brands increase their website performance by leveraging social proof. It will also cover how brands can adapt these techniques and apply them to a modern audience.

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6 Ways to use Behavioural Psychology to Drive Conversions & Grow Revenue

  1. 1. Drive Conversions & Grow Revenue 6 Ways to use Behavioural Psychology to
  2. 2. 5 MINUTES Introductions 5 MINUTES Yieldify’s technology and service 30 MINUTES 6 Ways to use Behavioural Psychology to Drive Conversions and Grow Revenue 20 MINUTES Q&A Agenda
  3. 3. Jay Radia, Founder & CEO of Yieldify Jay is the Founder of Yieldify, which helps brands to improve their digital customer experience whilst driving bottom line revenues. Prior to Yieldify, Jay had a promising career in Finance where he worked on the trading floors at Investment Banks such as Bank of America and BNP Paribas. He studied Economics as an undergraduate at UCL and always gravitated towards entrepreneurship from an early age. Neil Bayton, Partner Director, Trustpilot UK Neil has been the pioneer in Trustpilot's partnership program since establishing the program in 2014 and has worked with partners all over the UK to educate them on the benefits of Trustpilot to their clients. Neil has over 15 years experience in E-commerce. Naomi Hall, E-commerce Manager, Ovo Energy Naomi joined OVO in 2016, bringing experience from across the e-commerce management digital marketing spectrum. Previously an E-commerce Manager at BT, she has also digital marketing campaigns for telecommunications company Sky. Today’s Speakers
  4. 4. Trustpilot helps you build better relationships with the people who have opinions about you - your customers. Number one online review platform in Europe Over 30 million reviews on Trustpilot Over 1 billion monthly Google impressions INTRODUCTION Trustpilot
  5. 5. OVO INTRODUCTION OVO was founded in 2009 with a clear and simple vision – to create the world’s most trusted energy company. A couple of friends sat around a kitchen table and listed what they wanted from their energy supplier, but weren’t getting. Things like fair pricing. Great service. Clear and simple information. Technology to make managing energy easier. And above all, honesty and transparency.
  6. 6. a little bit about us...
  7. 7. We help customers create great onsite and email experiences (that increase conversions … and leads … and loyalty ...)
  8. 8. by.... delivering smart onsite and email messages based on visitor behaviour
  9. 9. A combination of platform and services
  10. 10. Drive Conversions & Grow Revenue 6 Ways to use Behavioural Psychology to
  11. 11. 1 Reciprocity Give something and get something in return!
  12. 12. For the January sales period, Yieldify targeted abandoning traffic with a 10% off incentive YIELDIFY CASE STUDY The Fragrance Shop +112.9% conversion uplift with a +42.1% AOV increase Result
  13. 13. 77% of people read an online review before making an online purchase 59%of people write negative review to protect others from a negative experience While wanting to protect other consumers from a bad experience is the number one priority for reviewers, what may surprise companies is that another key factor for posting a negative review is to help the business itself improve - the shopper doesn’t want to ‘destroy’ the company but help make it better. Importance of Reviews
  14. 14. 2 Commitment and Consistency People have a desire to appear consistent in behavior
  15. 15. Ovo Example
  16. 16. When visitors had become disengaged with their desktop or mobile while browsing the Virgin Trains website, we served them this overlay at the perfect moment to keep them on track Result +7.3% conversion uplift YIELDIFY CASE STUDY Virgin Trains
  17. 17. 3 Social Proof Principle that links our desire to follow the crowd
  18. 18. Challenge Tackling ‘abandonment’ from within the switching funnel. Campaign Engaging customers who appear to be getting cold feet with an overlay across all devices and highlight OVO’s outstanding trustpilot score Result +18% Conversion Rate Uplift from targeted website visitors YIELDIFY CASE STUDY OVO
  19. 19. EXAMPLE Butterfly Twists
  20. 20. We all want to follow the lead of real experts 4 Authority
  21. 21. We tend to buy from people we like 5 Liking
  22. 22. EXAMPLE Lifestyle Sports & Trustpilot We particularly liked the Trustpilot integrations with search platforms that allow us to put our reputation at the forefront when new potential customers first discover us. Since implementing our Trustpilot Trustscore within our search advertising and on-site, we’ve seen improved click through and conversion rates. Measuring the impact pre and post introduction, CTRs in the UK have increased by over 20% and we’ve also seen uplifts in general return on investment across all advertising campaigns. - Gordon Newman, Head of Multichannel at Life Style Sports “ ” Rich Snippets 20% uplift in CTR
  23. 23. Sport Relief wanted to encourage its audiences to get involved and sign up to an event or take part in active fundraising by organising something of their own. Fun & friendly creatives can have a big impact YIELDIFY CASE STUDY Sports Relief +1,000 leads a month Result +27% of leads generated from website
  24. 24. 6 Scarcity We all suffer from FOMO
  25. 25. Engaging shoppers with Cyber Week sale items. Featuring a countdown timer to deliver a sense of urgency Result YIELDIFY CASE STUDY Rum 21 19% increase in AOV
  26. 26. Reciprocity. Give something and get something in return! Main Points Commitment & Consistency. People have a desire to appear consistent in behavior Social Proof. Principle that links our desire to follow the crowd. 1 | 2 | 3 | 4 | Authority. We all want to follow the lead of real experts. Liking. We tend to buy from people we like. Scarcity. We all suffer from FOMO. 5 | 6 |
  27. 27. Email your questions to: events@trustpilot.com
  28. 28. Thank you!