Nuts & Bolts - Web: How Overstock.com Learned Marketing from Hippocrates
Plenty of lessons still come from the physician who practiced about 2,500 years ago, says Bryan Eisenberg, who led the session “21 Secrets of Top Converting Websites.” He is managing partner of New York-based marketing consultancy Eisenberg Holdings.
Personas, or “personality types” as Hippocrates thought of them, are important in converting consumers to customers, Eisenberg says. While website usability is important in Internet marketing, psychology and persuasion are important, too.
“Just don’t think of your audience as one single type of person,” Eisenberg told his audience at DMA2010. Using the example of Overstock.com selling DVDs, he explained what motivates the four consumer temperaments:
- Spontaneous consumers pay attention to the top sellers and new releases.
- Humanistics care about reviews.
- Methodicals tend to search by genre.
- Competitives focus on the top of the page.
Overstock.com found success when it tested a change in the top graphic from something about children’s movies to language that emphasized general DVD sales. Specifically, the A/B test resulted in a $25 million sales increase for the page with the general DVD wording.
With that insight, Eisenberg says marketers can build predictive models to target the consumers.
To view an online version of Eisenberg’s presentation, visit http://bit.ly/21secrets