Meet the Community Powering Holiday Optimization
You may have heard about the most important eBook for merchants this holiday season – if not, grab your free copy now (it may just help you make millions).
So, to test or not to test?
There is a misconception in today’s eCommerce that the best practice during the holidays is to freeze your code and minimize the risk that comes with testing until the season is over.
In actuality, this “best practice” is causing merchants to lose out on huge potential gains by not capitalizing on the most powerful growth opportunity of the year – holiday optimization.
While eCommerce teams have little incentive to rock the boat during this period, the data shows that those who do are rewarded with greater ROI not just during the holidays, but throughout the whole year.
Fortunately, the Mobile Optimization Initiative provides merchants with the tools required to accept this challenge head-on, maintaining sustainable growth as the landscape of eCommerce continues to advance at the same blistering speed that has already outpaced the testing methods we are used to.
At the heart of this movement are the people that drive it – a Mobile Optimization Community.
Who makes up the Mobile Optimization Community?
The Mobile Optimization Community is an ecosystem of merchants, system integrators (SIs), tech providers, and just about anyone working to create better eCommerce. We’re all in this together, and the Mobile Revenue Gap is just the beginning.
Since its inception just a few years ago, the community has already created quite an impact in eCommerce – a 9.28% lift in Revenue Per Visitor (RPV) for starters.
The best part is, anybody in eCommerce can find a place in the Mobile Optimization Community. Whether you’re a merchant, SI, or tech provider, everybody has something to offer and something to gain. The more the community grows, the more everyone in the MOI benefits from shared data, invaluable insights, and sustainable growth.
How does the Mobile Optimization Initiative work?
For merchants, joining the MOI unlocks access to a vast library of standardized experiments also being used by other merchants in the community. The key is bringing merchants together to learn from each other, as opposed to everyone testing in isolation and being limited to their own data.
This creates the perfect insights-driven testing environment, enabling:
- Larger sample size for more accurate data
- Faster results from experiments
- Resources and support from mCommerce pros
- Improvements in User Experience and Revenue Per Visitor
The advantage of the MOI Community is that it gives merchants the ability to leverage community data into insights that can help guide testing efforts towards the most probable victories, in a world continuously limited by time and traffic.
What makes this possible are the MOI’s adaptive algorithms which eliminate the biggest flaw associated with AB testing – risk. The patented technology that powers the MOI actively listens to the performance results of each treatment, and dynamically recalibrates traffic allocation based on key metrics that will yield the best results.
Where traditional solutions offer to run tests on a static 50/50 split between the treatment and control groups, HiConversion changes this percentage every hour in real-time to play the experiences that are resonating most strongly with users in that particular moment.
Why should I optimize this holiday season?
Most merchants experience the highest-volume trading periods during the holidays, yet few choose to optimize and learn about the seasonal shifts in their customers’ behavior. There is a tremendous revenue opportunity here that has historically been left on the table due to the limitations of the testing methods being used.
Using the data and insights gained from the MOI Community in combination with an engine that shifts traffic between different experiences in real-time based on their performance for each unique shopper, creates a holiday eCommerce strategy that is almost incapable of failure. Maximizing wins and mitigating losses, through the use of adaptive algorithms, will ultimately protect a merchant’s bottom line while testing and allows them to recognize massive gains from the treatments that are successful.
The more eCommerce continues to evolve, the more we will have to reevaluate what we think we know “for sure.” There is no such thing as a best practice that works for everyone all the time. The future is continuous optimization – we can never stop learning about what works best for the individual customer, at any point in their buyer journey, and at any given point in time.
Through the combination of this optimization technology, with a tailored bundle of tests hand-picked to excel specifically during the holidays, HiConversion is uniquely equipped to help merchants make significant gains in their holiday eCommerce numbers for all seasons to come.
The world’s first community-powered innovation platform helping eCommerce businesses accelerate growth. HiConversion powers the Mobile Optimization Initiative, an eCommerce movement bringing together merchants, system integrators (SIs) and technology partners to deliver competitive advantages across the entire customer experience.