New Site Layout Influences Results for Bankrate.com
By Mickey Alam Khan, Senior Editor, DM News
July 12, 2004
Bankrate's overall click-throughs rose by 28,878 per month, as monthly mortgage searches increased by 49,671 between March and May.
The better performance at www.bankrate.com is designed to generate more revenue from the financial institutions that advertise with Bankrate, North Palm Beach, Fl.
Bankrate used Optimost's technology to determine the best combination of copy, layout, section ordering, subject headers and color schemes to improve the number of mortgage searches and click-throughs. Optimost identified 14 variables on the Mortgage landing page for testing. These included layout and the copy for the mortgage search box, copy for the Trends & Tips headers and headlines and the ordering of selected feature areas. Optimost generated 294,912 versions of the page as potential inputs for testing.
The first three waves of the effort involved testing a range of values for each variable. Different section orderings were tested for Trends & tips. This Web space covered Credit & Debt, Insurance, Mortgage Calculators, Helpful Tips and Relocation.
"There were major differences in page click-through rates based on the ordering," said Mark Wachen, CEO of Optimost, New York. "When the Helpful Tips section came first, the click-through rate was over 35 percent higher than when the Credit & Debt section came first."
Subtle copy changes made differences as well, Wachen said. For example, changing the lead headline and copy in the Ask Bankrate section from "Free Customized Mortgage Advice" to "Click Here for Answers to All Your Questions" raised click-through rates.
Optimost's technology then was used to test more dramatic changes to page layout and the location of the mortgage ox, seeking to learn whether this might further increase mortgage searches. The fourth and fifth waves focused on different layouts where the mortgage search box was moved around the page.
The results shocked Bankrate and Optimost.
"By changing the page layout and relocating the mortgage search area, overall mortgage searches increased by an astounding 1,298.6 percent," Wachen said. "The will result in close to 49,671 additional mortgage searches per month for Bankrate.
It appears that online real estate is similar to its real-life equivalent: Value is based mainly on location. Varying the location of action areas on a Web page can affect user behavior and, consequently, the site owner's revenue goals and potential.
"In the same way, supermarkets have figured out the optimal store layout-putting the milk section in the back of the store, impulse items by the register, etc.," he said. "Web sites need to figure out what is the optimal layout of each individual page."
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