Conversion rate optimization agency
microsoft combinator
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Increase E-commerce GMV with conversion rate optimization

microsoftcombinator

Forecast on guaranteed GMV growth

The majority of conversion rate optimization agencies don't give any guarantees on e-commerce GMV growth results and just bill a fixed monthly rate without any growth commitments.

We conduct preliminary quantitative analytics before we accept a new client so that we can forecast a specific percentage of growth of GMV that we guarantee by an agreed date.

For instance, it could be 11% total GMV uplift in 4 months.

In case of not delivering by the deadline, which happens in 4-7% of instances, we perform more A/B tests FREE of charge until we deliver the promised GMV growth.

Sounds fair? This forecast of guaranteed uplift is based on our experience of experimentation on million monthly users of our clients in e-commerce and understanding of GMV benchmarks.

How do we optimize e-commerce GMV?

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Expertise increasing e-commerce GMV

We have conducted approximately 391 A/B tests for 45 e-commerce projects and a lot of them needed GMV optimization. Request the most similar e-commerce case studies for the same market.

There are three important characteristics to consider when you examine the expertise of a CRO agency.

Ask them about the experience with:

  1. process
  2. e-commerce
  3. industry.

All CRO agencies assert to have conversion rate optimization process experience and propagate the same story of their skills in UX research and experimentation.

And the client should have at least enough experience to judge the depth of these skills at the interview stage, which could be challenging.

What do you do if you can't do a competence interview on analytics skills and statistics? The simple solution is to ask for their expertise in a similar business model, as any e-commerce has similar pain points and optimization methodologies.

Isn't it useful when your contractor has already conducted similar research on millions of users and obtained data on how to optimize GMV? However, each business model has completely unique technical and analytics stacks that require different teams, methodologies and values.

And if you choose an agency expecting a turnkey solution, you don t want the agency to be inexperienced or find them hastily hiring new team members to fill in gaps in their team, right? Not least of all is market experience, which is mostly about knowing particular user needs.

And that's the main focus of the research if the agency already demonstrates the e-commerce expertise.

So it's clearly a clear benefit if the agency has that, but it dramatically decreases the shortlist of agencies that have all three pillars (process, e-commerce, and industry expertise).

However, if the CRO agency has worked with 319 clients as we have, then they likely have experience in you.

And even if it's from a different business model it could be even more useful as it can bring fresh GMV growth hacks that your competitors may be not have yet.

1. Advanced split-testing analytics.
2. Track record of GMV optimization for well-optimized funnels.
3. Executing a whole CRO process including A/B test development and QA.

What is a good e-commerce GMV?

The initial step of e-commerce CRO process is to identify the most critical bottleneck in the funnel. Even if you've done advanced funnel analytics, cohorts, and quantitative user journey research, how do you prove that your current GMV has the highest growth potential? Evidently the critical element is to get correct and up-to-date numbers on e-commerce GMV benchmarks in your industry. Request e-commerce GMV average rates and a strategy session on how to improve.

 

Frequently asked questions

  • What are the best techniques to improve metric?

    With the experience of optimizing a number of e-commerce clients, we understood that there is no “one-size fits all” list of top-performing ways to improve GMV. The ”secret sauce” is in the depth of quantitative analytics and UX research that results in statistically valid conclusions on the top-priority bottleneck. The top performing best practices for GMV optimization are typically already used by your competition and already don't bring significant additional results. And the expertise of a conversion rate optimization firm is invent new strategies, using expertise from other industries that are not yet well-known by the competition.

  • What is the pricing of gmv conversion optimization services?

    The price depends on the quantity of monthly users, user flows and number of conversions to estimate the number of a/b tests, the needed uplift and the difficulty of delivering that.

  • What happens if the forecasted gmv uplift is not delivered?

    We do more split-tests free of charge until we deliver the promised gmv growth. This term is included in the contract and we execute this promise anyway to further the name of one of the most trusted conversion rate optimization agencies.

  • What is the process to optimize E-commerce gmv?

    1. Data infrastructure health check 2. Detect the biggest GMV step in the funnel and get quantitative and accurate data on the reason behind it. 3. Prepare a new version of the UI and copy 4. Build an A/B test and conduct detailed quality assurance 5. Report the results!

  • How to measure gmv improvement?

    We calculate optimization results based on experiment data sets. If you haven't heard of A/B testing, it's splitting the traffic between different versions of the same UX element to gain statistical significance of the effect on the GMV. We do a conversion tracking health check before starting with experimentation, to be confident that the data is valid and discuss the formula to calculate the GMV.

  • What is gmv?

    If have just started a career in e-commerce then you should learn not only the main KPIs such as GMV and their definitions, but also their interconnectedness, ways, processes, tactics, strategies to increase it and the basics of data engineering, so that you're able to understand the conversion optimization process. book a strategy session with one of our best conversion optimization consultants to save a few years learning answers on these questions.

What do our customers say about us?

Alina Volchek - CMO, Depositphotos.com (USA)
Conversionrate store’s expertise and experience helped us improve the signup phase with more accurate communication and customization of the experience, resulting in 8.3% growth in new user revenue across all countries. We also saw an 18% uplift in conversion rate of new users as a result of rather bold and controversial solution of moving the block with recommended images to a more visible real estate on the main landing pages of organic traffic.
Depositphotos logo
Alina Volchek
CMO,
Depositphotos.com (USA)
Ryan Newman - Marketing Director, Papaya Global (Israel)
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.
Papaya Global logo
Ryan Newman
Marketing Director, Papaya Global (Israel)
Ariel Geifman - Head of Marketing, Syte (Israel)
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.
Syte logo
Ariel Geifman
Head of Marketing, Syte (Israel)
Trevor George - Founder, Maskclub (USA)
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.
Maskclub logo
Trevor George
Founder, Maskclub (USA)
Alina Volchek - CMO, Depositphotos.com (USA).
Conversionrate store’s expertise and experience helped us improve the signup phase with more accurate communication and customization of the experience, resulting in 8.3% growth in new user revenue across all countries. We also saw an 18% uplift in conversion rate of new users as a result of rather bold and controversial solution of moving the block with recommended images to a more visible real estate on the main landing pages of organic traffic.
Logo Depositphotos
Alina Volchek
CMO,
Depositphotos.com (USA)
Jayden V
Hunter Galloway (Australia).
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.
Logo Hunter Galloway
Jayden V
Hunter Galloway (Australia)
Nicholas A. Michalak - Founder, Somnifix (USA).
Very impressed by the speed and efficiency of the team’s work. All the proposed changes and updates are always backed by data, not by assumptions. Since we’ve started working together in August 2019, the UX of our website has vastly improved and our monthly revenue has increased by 200% (tripled).
Logo Somnifix
Nicholas A. Michalak
Founder, Somnifix (USA)
Markus - CEO, Moonmagic (USA).
Conversion Rate Store helped us to increase our ARPU by 24% (!) over the past 5 months. I highly recommend working with them, they are very data-driven and all of their recommendations have proven to be extremely helpful in scaling our business.
Logo Moonmagic
Markus
CEO,
Moonmagic (USA)

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                  • Get 3 Free CRO recommendations for your site
                  • Calculate CRO project ROI
                  • Enquire about CRO project cost




                    Conversion Rate Store

                    Schedule a FREE consultation to get:

                    • Actionable plan on how to increase needed metric
                    • Industry-relevant case studies
                    • Benchmarks of similar funnels to compare with competitors




                      Conversion Rate Store
                      • Get 3 Free CRO recommendations for your site
                      • Calculate CRO project ROI
                      • Enquire about CRO project cost




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                        Our leading CRO strategist will review your website, ask metrics on the call and give you 3 actionable recommendations on how to increase conversion rates for free.




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                          • Get 3 Free CRO recommendations for your site
                          • Calculate CRO project ROI
                          • Enquire about CRO project cost