Company: Telestream, Agency: Avangate and WiderFunnel
After conducting an in‐depth analysis of current website performance, the team identified problem areas where revenue leakage was occurring. The optimization strategy would be focused on these key areas with the most impact/traffic in order to maximize revenue potential in the shortest amount of time. The optimization strategy planned to start with the Site & Product pages, then the Cart pages since the majority of the Telestream traffic comes directly into the product pages – and not the homepage.
Telestream’s customer acquisition strategy is centered around driving traffic to their website to try or purchase software from their online store. Shoppers can buy the software online, download it, and immediately start using it. The software licensing model is based on a perpetual license, although Telestream does offer a few products with annual subscriptions. The customer life cycle also includes paid upgrades to further increase the lifetime value of the customer.
‐ Increase the site conversion rate to bring more traffic to the cart pages
‐ Increase the cart conversion rate to convert more shoppers to buyers ‐ Increase revenue
Avangate partnered with WiderFunnel, a digital optimization agency, to provide Conversion Rate Optimization (CRO) services to Telestream.
Avangate and WiderFunnel developed a strategy and test plan to focus on areas with the most revenue potential. Several experiments were run during the 6‐month project – both on the site and on the cart pages:
‐ Site Experiments: Buy Links
‐ Product Page Experiments: Call to Action ‐ Product Page Experiments: Hero Banner ‐ Cart Experiments: Review Order
‐ Cart Experiments: Optimal Number of Steps
Over the 6‐month optimization program, Telestream achieved a 10x return on their investment and increased their cart conversion rate by 26%. This improvement translated into a total $2M in additional revenue per year (forcasted revenue). Telestream also gained valuable insights about their customers buying behavior, which now can be applied to their website and other cart templates to further increase revenue.