Conversion rate optimization agency
microsoft combinator
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Marketplace take rate optimization

microsoftcombinator

Forecast on guaranteed take rate growth

The majority of CRO firms don't promise any guarantees on marketplace take rate improvement and simply charge a fixed monthly fee avoiding any growth obligations.

We conduct preliminary quantitative analytics before we make an offer in order to forecast a specific percentage of increase of take rate that we guarantee by an agreed date.

For example, it could be 11% total take rate growth in three months.

In case of not delivering by the deadline, which happens in 4-7% of cases, we perform more A/B tests for FREE until we deliver the forecasted take rate growth.

Sounds fair? This forecast of guaranteed growth is based on our experience of conversion optimization on million monthly users of our clients in marketplace and understanding of take rate average conversion rates.

How do we optimize marketplace take rate?

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Experience optimizing marketplace take rate

We have done about 478 A/B tests for 42 marketplace projects and the majority asked for take rate optimization. Request the most relevant marketplace case studies for the same industry.

There are three important parameters to weigh up when you evaluate the expertise of a CRO agency.

Ask them about the experience with:

  1. process
  2. marketplace
  3. same audience.

Most CRO agencies assert to have conversion rate optimization process expertise and preach the same story of their mastery in quantitative research and A/B testing.

And your in-house team should have at least enough experience to understand the depth of this expertise on initial calls, which could be hard to do.

What do you do if you can't do a competence interview on analytics skills and A/B testing? The simple solution is to ask for their experience in a similar business model, as any marketplace has similar problems and best practices.

Isn't it great when an agency has already carried out the same research on millions of users and gained data on how to optimize take rate? On the other hand, different business models typically have completely unique technical and data tracking stacks that need distinct skills, processes and mindsets.

And if you hire a contractor not to micro-manage, you don t want the agency to operate entirely on a trial and error basis or find them quickly hiring new team members to cover skill shortages, right? Not least of all is industry experience, which is all about knowing unique user demands.

And that's the primary goal of the analytics if the agency already demonstrates the business model expertise.

So it's obviously a clear differentiator if the agency has that, but it dramatically decreases the shortlist of contractors with all three pillars (process, marketplace, and industry experience).

But if the CRO agency has worked with 327 clients as we have, then they likely have experience in the same market as yours.

And even if it's from a different business model it could be even more beneficial as it can uncover uncommon take rate growth hacks that your competitors may be not utilize yet.

1. Advanced experimentation statistics.
2. Trusted to develop experiments on 178 m. users per month.
3. Executing a whole CRO process including A/B test development

What is a good marketplace take rate?

The first task of marketplace conversion optimization process is to choose the most critical drop-off in the funnel. Even if you've done advanced funnel analytics, cohorts, and quantitative user journey research, how do you decide that your current take rate has the highest growth potential? Clearly the critical element is to obtain correct and most recent numbers on marketplace take rate benchmarks in your market. Request marketplace take rate average rates and a consultation on ways to improve.

 

Frequently asked questions

  • How to create an effective take rate optimization strategy?

    After growing a number of marketplace customers, we understood that there is no universal list of top-performing strategies to optimize take rate. The key is in the depth of quantitative analytics and UX research that results in strong conclusions on the top-priority drop off. The most effective best practices for take rate optimization are typically already used by competitors and already don't drive significant additional growth. And the expertise of a CRO firm is to be on the cutting edge of strategies, leveraging processes from other industries that are not yet used by the competition.

  • What is the price of take rate CRO services?

    Pricing depends on the volume of monthly users, funnels and number of conversions to calculate the number of experiments, the required results and the difficulty of executing that.

  • What happens if the forecasted take rate improvement is not delivered?

    We do more experiments free of charge until we bring the promised take rate growth. This obligation is in the contract and we execute this promise anyway maintain the authority of one of the most trusted CRO agencies.

  • What is the process to increase marketplace take rate?

    1. Analytics setup health check. 2. Investigate the most critical take rate bottleneck and get accurate and quantitative data on the cause of it. 3. Make a new version of thedesign and copy. 4. Build an A/B test and do rigid QA. 5. Calculate the results!

  • How to calculate take rate improvement?

    We measure the impact on take rate based on split-test results. If you're new to it, it's dividing the users between different variations of the same page to gain a big enough sample size of the impact on the take rate. We do a data tracking audit before starting with conversion optimization, to be confident that the data is valid and discuss ways to calculate the take rate.

  • What is take rate?

    If have just started a career in marketplace then the first step is to learn not only the key KPIs such as take rate and their formulas, but also their interdependence, ways, processes, tactics, strategies to increase it and the foundations of product analytics, so that you're able to grasp the results. Book a consultation with our most experienced conversion rate optimization managers to get a basic understanding of how to track results in take rate optimization.

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)
Vladlena Chuvashova - Head of E-Sales & Digital at Ukraine International Airlines
The Conversion Rate Store team identified significant user friction in the ticket booking process on Flyuia.com and provided a UX solution that generated a 24% (!) ARPU uplift.
Uia logo
Vladlena Chuvashova
Head of E-Sales & Digital at Ukraine International Airlines
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.
Moonmagic logo
Markus
CEO,
Moonmagic (USA)
Andrey Zdor - CEO, Bigl (Ukraine)
The team from the Conversion Rate Store produced the most profitable UX solution of all that have ever been tested on Bigl.ua
Bigl logo
Andrey Zdor
CEO, Bigl (Ukraine)
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)
Ihor Hromada - Auto.ria.com (Ukraine).
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.
Logo Auto RIA
Ihor Hromada
Auto.ria.com (Ukraine)
Andrey Zdor - CEO, Bigl (Ukraine).
The team from the Conversion Rate Store produced the most profitable UX solution of all that have ever been tested on Bigl.ua
Logo Bigl
Andrey Zdor
CEO, Bigl (Ukraine)

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