The majority of conversion rate optimization companies don't give any guarantees on improvement in reducing freemium checkout abandonment rate and simply invoice a fixed monthly cost avoiding any growth commitments.
We estimate potential growth opportunities before we make an offer so that we can forecast a specific percentage of checkout abandonment rate improvement that we can achieve by an agreed date.
As an example, our agency could guarantee to decrease total checkout abandonment rate by 7% in 2 months.
In case of not delivering on time, which happens in 4-7% of projects, we conduct more A/B tests FREE of charge until we deliver the promised growth.
Sounds fair? This promise of guaranteed results is based on our experience of conversion optimization on 26 million monthly users of our clients in freemium and understanding of checkout abandonment rate average rates.
How do we optimize freemium checkout abandonment rate?
Ask them about the experience with:
Most conversion optimization firms claim to have CRO process experience and pitch the same things about their skills in UX research and experimentation.
And your in-house team should have at least enough hands-on experience to understand the level of these skills during the pre-sale stage, which could be difficult.
What do you do if you can't do a competence assessment on data analytics experimentation? The simple solution is to look at their experience in the same business model, as any freemium has similar challenges and analytics frameworks.
Isn't it handy when an agency has already conducted similar research on millions of users and obtained data on how to decrease checkout abandonment rate? On the flip side, each business model has completely unique tech and analytics stacks that need distinct specialists, processes and values.
And if you hire a contractor for their expertise, you don t expect the agency to have an entirely trial and error approach or find them quickly recruiting new team members to fill in skill shortages, right? Not least of all is market expertise, which is mostly about knowing particular user demands.
And that's the main area of the research if the CRO agency already shows the business model experience.
So it's definitely a clear competitive advantage if the agency has that, but it dramatically narrows the shortlist of contractors with all three pillars (process, freemium, and industry expertise).
However, if the conversion optimization firm has worked with 319 clients like we have, then they likely have experience in a similar market to you.
And even if it's from a different business model it could be even more useful as it can uncover new checkout abandonment rate growth hacks that your competitors may be not use right now.
How to create an effective checkout abandonment rate optimization strategy?
With the experience of optimizing a number of freemium optimization projects, we understood that there is no universal list of top-performing processes to improve checkout abandonment rate. The ”secret sauce” is in the combination of data analytics and UX research that results in statistically valid data on the most problematic bottleneck. The most effective best practices for checkout abandonment rate optimization are most likely already implemented by your competition and no longer bring significant additional growth. And the function of a conversion rate optimization agency is invent new mechanics, leveraging processes from other markets that are not yet implemented by competitors.
What is the price of checkout abandonment rate CRO services?
Pricing depends on the amount of of monthly users, funnels and number of conversions to calculate the amount of experiments, the needed uplift and the complexity of delivering that.
What happens if the promised checkout abandonment rate improvement is not achieved?
We do more A/B tests free of charge until we achieve the promised freemium decrease. This obligation is included in the contract and we execute this promise anyway maintain the reputation of one of the most respected CRO agencies.
What is the process to decrease checkout abandonment rate?
1. Analytics setup audit. 2. Find the most critical checkout abandonment rate bottleneck and get quantitative and accurate data on the cause of it. 3. Make a new version of the UI/UX and copy. 4. Develop an experiment and perform rigid QA. 5. Create a statistical analysis of the results!
How to measure checkout abandonment rate decrease?
We calculate optimization results based on A/B test data sets. If you're new to it, it's dividing the visitors between two or more variants of the same page to gain statistical significance of the effect on the checkout abandonment rate. We do a data setup health check before starting with conversion optimization, to make sure the data is correct and approve the formula to calculate the checkout abandonment rate.
What is checkout abandonment rate?
If you're in your first job in in freemium optimization then the first step is to learn not only the most critical KPI formulas, but also their interconnectedness, ways, processes, tactics, strategies to increase it and the basics of data engineering, in order to understand the results. Schedule a strategy session with one of our most experienced conversion rate optimization consultants to save a few years learning answers on these questions.
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