Most conversion rate optimization agencies don’t offer any guarantees when it comes to improving marketplace product detail page conversions. They typically charge a fixed monthly fee without setting clear KPIs for uplift.
We take a different approach. Before making an offer, we conduct research to predict a specific percentage increase in marketplace product listing page conversions that we can achieve by an agreed deadline.
For example, we might target a 5% improvement in product detail page conversions over three months.
If we don’t hit that target on time—which happens in 4-7% of cases—we continue running additional experiments at no extra cost until we achieve the promised uplift.
This forecast is based on our experience optimizing conversions for 32 million monthly users across our clients' marketplaces and our understanding of product listing page conversion benchmarks.
How do we optimize Marketplace conversion rate optimization?
When evaluating the track record of a conversion rate optimization (CRO) firm, there are three key elements to consider. You should ask about their expertise in:
Most CRO agencies claim to be experts in the optimization process, often highlighting their skills in UX research and A/B testing.
So, what do you do if you can’t evaluate their competence in data tracking and statistics? In that case, it’s useful to look at their experience with the same business model, as any marketplace faces similar challenges and uses comparable analytics frameworks.
Wouldn’t it be valuable if your contractor had already conducted similar research on millions of users and gained insights on how to optimize category page conversions? However, different business models often require entirely different technical and analytics setups, meaning they need distinct skills, methodologies, and values.
If you’re hiring a contractor to handle things without micromanagement, you probably don’t want them relying entirely on trial and error or quickly bringing in new team members to cover skill gaps. Market experience is also crucial, as it’s all about understanding your customers’ unique needs.
That’s why if the agency already demonstrates expertise in your business model, their research should align with your goals.
It’s a big advantage if the contractor has that experience—but the reality is, there are fewer agencies that can offer all three elements: process, marketplace, and industry expertise.
If the CRO firm has optimized 319 clients like we have, they likely have success stories in industries similar to yours.
And even if their experience comes from a different business model, that could still be beneficial, as it could bring fresh category page optimization tactics that your competitors may not have discovered yet.
GMV stands for Gross Merchandise Volume, which represents the total sales value of merchandise sold through your marketplace over a specific period. It is crucial because it indicates the overall health and performance of your marketplace, helping you assess growth and revenue potential.
A streamlined checkout process reduces friction and enhances user experience, leading to higher conversion rates. By minimizing steps, offering multiple payment options, and ensuring mobile compatibility, you can significantly decrease cart abandonment and increase completed purchases.
The take rate is the percentage of each transaction that the marketplace retains as revenue. It directly impacts profitability; optimizing your take rate can help balance competitiveness with revenue needs, ensuring you attract buyers while maximizing earnings from sales.
To improve the buyer conversion rate, focus on enhancing product listings with high-quality images and detailed descriptions. Implement targeted marketing strategies, provide personalized recommendations, and utilize social proof such as reviews and ratings to build trust and encourage purchases.
User experience is critical for conversion optimization in marketplaces. A clean design, easy navigation, fast loading times, and responsive customer support all contribute to a positive shopping experience. Enhancing user experience can lead to increased buyer satisfaction and higher conversion rates.
Key metrics to monitor include GMV, checkout abandonment rates, take rate, buyer conversion rates, and customer retention rates. Analyzing these metrics will help you identify strengths and weaknesses in your marketplace strategy, allowing for data-driven improvements
We saw a 13.5% uplift in conversion rate of Auto.ria.com as a result of working with Conversion Rate Store. The first of their hypotheses was already a success. We were pleasantly surprised by the professional approach and a high level of expertise of their team.
We achieved an 81% uplift in signups on our top-performing landing page and a 6% increase in ARPU with Conversion Rate Store.
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.
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.
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).
Conversion Rate Store increased my free trial to paid customers conversion rate by 86% (!!!). Very happy with the result of the CRO project and highly recommend working with them.
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.
The team from the Conversion Rate Store produced the most profitable UX solution of all that have ever been tested on Bigl.ua
Marketplace retention optimization
Marketplace checkout abandonment rate optimization
Marketplace conversion to purchase optimization
Marketplace repeat orders optimization
Marketplace take rate optimization
Marketplace returning purchases optimization
Marketplace CTR optimization
Marketplace conversion to transaction optimization
Marketplace ARPU optimization
Marketplace conversion to transaction optimization
Marketplace match rate optimization
Marketplace ad revenue optimization
Marketplace AOV optimization
Increase Marketplace GMV with conversion rate optimization
Marketplace Buyer-to-Seller ratio optimization
Marketplace conversion to lead optimization
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