The majority of CRO firms don't promise any guarantees on freemium retention growth results and just bill a fixed monthly cost without any growth responsibility.
We estimate potential growth opportunities before we start working in order to forecast a specific percentage of increase of retention that we can achieve by an agreed deadline.
As an example, it could be 7% total retention uplift in 3 months.
In case of not delivering on time, which happens in 4-7% of projects, we do more experiments for FREE until we provide the promised retention growth.
Sounds good? This forecast of guaranteed growth is based on our experience of conversion optimization on million monthly users of our clients in freemium and understanding of retention average conversion rates.
How do we optimize freemium retention?
Ask them about the experience with:
The majority of CRO agencies assert to have conversion optimization process expertise and propagate the same story of their capability in research and A/B testing.
And the client should have at least enough hard skills to judge the level of these skills at the interview stage, which could be difficult.
What do you do if you can't do a technical interview on data analytics and A/B testing? The simple solution is to ask for their track record in a similar business model, as any freemium has similar challenges and best practices.
Isn't it handy when an agency has already conducted similar research on millions of users and gathered insights on how to improve retention? On the flip side, different business models typically have completely unique technical and analytics stacks that need distinct skills, approaches and mindsets.
And if you choose an agency not to micro-manage, you don t expect the agency to operate entirely on a trial and error basis or find them hastily hiring new team members to cover skill shortages, right? Last but not least is industry experience, which is all about understanding unique customer needs.
And that's the main focus of the analytics if the CRO agency already demonstrates the business model expertise.
So it's clearly a clear benefit if the contractor has that, but it dramatically decreases the shortlist of contractors with all three components (process, freemium, and industry experience).
However, if the agency has helped to grow 325 clients like we have, then they likely have success stories in the same market as you.
And even if it's from a different business model it could be even more valuable as it can uncover fresh retention optimization tactics that your competitors may be not be aware of.
How to create an effective retention optimization strategy?
After working with a number of freemium clients, we understood that there is no “one-size fits all” list of top-performing strategies to optimize retention. The ”secret sauce” is in the level of execution of quantitative and qualitative research that results in representative conclusions on the most problematic bottleneck. The top performing best practices for retention optimization are typically already utilized by your competition and no longer bring desired results. And the expertise of a conversion optimization company is to be on the cutting edge of tactics, utilizing experience from other markets that are not currently well-known by the competition.
What is the price of retention CRO services?
This depends on the amount of of monthly users, funnels and the amount of transactions to estimate the amount of experiments, the needed results and the complexity of executing that.
What happens if the promised retention improvement is not achieved?
We do more A/B tests for free until we deliver the promised retention uplift. This term is in the contract and we execute this promise anyway maintain the authority of one of the most trusted CRO agencies.
What are the steps to optimize freemium retention?
1. Data tracking setup audit. 2. Find the most critical retention step in the funnel and get accurate and quantitative data on the cause of it. 3. Prepare a new version of thedesign and copy. 4. Code an experiment and conduct rigid QA. 5. Create a statistical analysis of the results!
How to measure retention uplift?
We calculate optimization results based on experiment results. If you haven't heard of A/B testing, it's splitting the visitors between different variants of the same UX element to gain statistically valid data on the effect on the retention. We do a data tracking audit before starting with A/B testing, to be confident that the data is correct and agree on the formula to calculate the retention.
What is retention?
If it's your first project in freemium then the first step is to learn not only the most important KPIs such as retention and their definitions, but also their interconnections, ways, processes, tactics, strategies to optimize it and the foundations of product analytics, so that you can grasp the results. Book a call with our senior optimization consultants to get detailed answers to your specific questions.
The Conversionrate.store completely turned around our website conversion delivering an 88% increase in the total number of conversions. Their work is logical and smart, both identifying and improving existing funnels and creating new funnels for conversions delivered by excellent UX/UI. We are incredibly happy with their work and highly recommend working with them.
We achieved an 81% uplift in signups on our top-performing landing page and a 6% increase in ARPU with Conversion Rate Store.
Conversion Rate Store have been instrumental to our online growth, we have seen a 26% increase in visitor to lead conversions. Their pragmatic approach has completely removed the guesswork from conversion rates, and just delivered results. If you are looking to dramatically improve your conversions online, speak with Conversion Rate Store.
We achieved 4X growth in leads with Conversion Rate Store"s team over a period of two months. They have excellent proficiency in data analysis and the creation of CRO recommendations. Highly recommend working with them.
Conversion Rate Store have been instrumental to our online growth, we have seen a 26% increase in visitor to lead conversions. Their pragmatic approach has completely removed the guesswork from conversion rates, and just delivered results. If you are looking to dramatically improve your conversions online, speak with Conversion Rate Store.
We achieved 4X growth in leads with Conversion Rate Store"s team over a period of two months. They have excellent proficiency in data analysis and the creation of CRO recommendations. Highly recommend working with them.
Conversionrate.store is very detail and logic focused. You want insight into your data? They will give it to you and without bias. They let the data speak and they know how to interpret it.
Conversionrate.store boosted Prom.ua’s desktop revenue by 6%. The project was on performance-based basis and turned a positive ROI within a month.
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