The majority of CRO agencies don't promise any guarantees on results in decreasing webinar checkout abandonment rate and just charge a fixed monthly cost without any growth responsibility.
We estimate potential growth opportunities before we accept a new client in order to forecast a specific percentage of checkout abandonment rate reduction that we guarantee by an agreed time milestone.
For instance, we could guarantee to decrease total checkout abandonment rate by 10% in 2 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 provide the promised growth.
Sounds good? This estimation of guaranteed results is based on our experience of running experiments on 32 million monthly users of our clients in webinar and understanding of checkout abandonment rate benchmarks.
How do we optimize webinar checkout abandonment rate?
Ask them about the experience with:
All CRO agencies claim to have conversion rate optimization process competence and propagate the same story of their skills in quantitative research and A/B testing.
And your in-house team should have at least enough experience to comprehend the level of these skills at the interview stage, which could be difficult.
What do you do if you can't do a competence interview on data analytics statistics? In this case you can ask for their track record in a similar business model, as any webinar has similar challenges and processes.
Isn't it handy when a conversion optimization firm has already conducted similar research on millions of users and gained data on how to reduce checkout abandonment rate? However, each business model has completely unique tech and analytics stacks that need distinct specialists, methodologies and mindsets.
And if you hire an agency for their expertise, you don t want the agency to operate entirely on a trial and error basis or find them quickly recruiting freelancers to cover skill shortages, right? Just as important is market expertise, which is mostly about understanding your customer requirements.
And that's the main goal of the analytics if the CRO agency already boasts the business model experience.
So it's definitely a killer benefit if the agency has that, but it dramatically decreases the shortlist of contractors that have all three pillars (process, webinar, and industry experience).
However, if the CRO agency has optimized 326 clients like we have, then they likely have experience in the same industry as you.
And even if it's from a different business model it could be even more valuable as it can uncover uncommon checkout abandonment rate growth hacks that your competition may be not be aware of.
What are the best techniques to improve checkout abandonment rate?
With the experience of optimizing a number of webinar optimization projects, we understood that there is no universal list of top-performing tactics to improve checkout abandonment rate. The core value is in the depth of data analytics and UX research that results in strong conclusions on the most problematic bottleneck. The most effective best practices for checkout abandonment rate optimization are typically already utilized by your competition and already don't result in desired uplift. And the function of a CRO firm is invent new mechanics, utilizing processes from other markets that are not currently well-known by the competition.
What is the pricing of checkout abandonment rate conversion optimization services?
The price depends on the quantity of monthly users, user flows and number of conversions to estimate the amount of experiments, the required results and the difficulty of achieving that.
What happens if the forecasted checkout abandonment rate decrease is not delivered?
We do more experiments for free until we achieve the promised webinar improvement. This term is in the contract and we do this anyway to further the authority of one of the most trusted CRO agencies.
What are the steps to reduce checkout abandonment rate?
1. Data infrastructure health check. 2. Detect the most problematic checkout abandonment rate leak and get quantitative and accurate data on the cause of it. 3. Make a new version of the UI/UX and copywriting. 4. Code an A/B test and conduct detailed QA. 5. Create a statistical analysis of the results!
How to calculate checkout abandonment rate improvement?
We measure the impact on checkout abandonment rate based on experiment data. If you haven't heard of A/B testing, it's dividing the users between different variants of the same page to gain statistically valid data on the effect on the checkout abandonment rate. We do a data tracking health check before starting with A/B testing, to make sure the data is valid and agree on ways to calculate the checkout abandonment rate.
What is checkout abandonment rate?
If you're in your first job in in webinar optimization then the first step is to learn not only the most important KPI definitions, but also their connection to each other, ways, processes, tactics, strategies to improve it and the foundations of product analytics, so that you're able to evaluate the conversion optimization process. book a strategy session with one of our leading conversion rate optimization experts to save a few years learning answers on these questions.
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Working with the ConversionRate team is nothing short of extraordinary. In the first month alone, we saw a 28.55% improvement in our overall conversion rate and a 165.06% improvement in revenue. If that’s not the definition of miracle work, I don’t know what is.
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