E-Commerce Conversion Rate Optimization – The Big, Bad and Bold Offer
Every agency, development company, or brand should have a big, bad, and bold offer. Many brands do this. It’s very important to build authority and trust in the eyes of the consumer.
What is a big, bad, bold offer?
It’s a promise to increase your value. At Optimum7, the team says, “We’re so confident that we will find you conversions that if we can’t find you ten percent of your revenue in added conversions in the next 90 days, we’ll work for another 90 days for free.”
In other cases, depending on your analytics the team may declare, “If we can’t find you ten percent of your revenue in the next 90 days as a conversion increase, you’ll receive a refund. We will persist until we get those conversions for you.”
The Offer To Optimize For Conversions
How can the team make a big, bold offer like this?
For starters, this offer isn’t given to everyone. The sales representatives need to identify this opportunity first. They analyze these businesses first to find that opportunity. Once that opportunity is identified, the team can offer that big, bad, and bold deal. Many businesses have no more room for growth or if their infrastructure is crumbling. Optimum7 makes a bold offer on seeing potential, and it has benefited countless cutthroat companies.
For example, suppose you get over 50,000 people to your site on a monthly basis and with over 300 SKUs or 300 different types of products. In addition, you don’t have an advanced search and filter functionality. You’re leaving at least 8% conversions on the table. People are taking too long to find the product they want.
Another one is if you’re doing over $2 million in annual revenue and you have good regular and organic traffic. If you’re advertising on Adwords but lack the Facebook pixel or retargeting, you’re leaving five to ten percent on the table.
There’s more. If you have an average order value of over $1000 without a pay overtime or a split payment functionality, you’re leaving money on the table. The same goes for lacking email nurture on top of to nurture those individuals down the funnel with high price point items. Optimum7 can identify multiple areas of opportunity.
How Marketers And Clients Finalize Conversion Goals
The team first schedules a phone call and signs NDAs, non-disclosure agreements. That way, you have the peace of mind to actually give us Google Analytics, Google Search Console, and Site admin access.
The team reviews your metric, top pages, and top converting products. Top products include the most profitable or the best-selling items. If on average every single order that you have has three items, but one specific category has only one item in the order, then you might be missing pre-checkout upsell, post-checkout upsell, related products based on logic.
Optimum7 has built over 650 custom functionalities to solve these problems. Some can increase your conversion rates and to find you that money from a marketing standpoint. Others can improve development and back-end standpoints.
What client has benefited from this strategy?
Consider Client X. They earn $10 million annually, using BigCommerce. They did not have a soft add-to-cart checkout. The soft add to cart checkout allows customers to proceed directly to checkout bypassing the cart page. Just that little bit of friction. They also had no email nurture.
The team implemented an email nurture strategy with an advanced abandoned cart, browser abandonment, welcome series flows, VIP cross-sell, upsells, and a retargeting campaign.
Thanks to these changes, the client has climbed month over month with almost 10% increases in conversion rate. If you look at their Google analytics, from everything that the team put together, month over month, they’re consistently increasing their conversion rates significantly. Email nurture alone has brought in almost a quarter of a million dollars. They had left a lot of money on the table.
Optimum7 has been doing this for 14 years. Experience helps but is not the only reason for success. The team has its own eCommerce operations: with an Amazon operation, Eastern European manufacturing, and various online industries. The managers and owners are eCommerce business owners, and they know what works in eCommerce and what doesn’t work in eCommerce.
Growing Your Business Is Not Free
The big, bad, bold offer is not free. You must pay $10,000 to $25,000 for the phone call. Time is money, and money is interaction.
On top of that, the Optimum7 promise for the right prospect or client is finding 10% of your revenue. So if you’re doing $10 million, you will receive $1 million in the next 90 days. If the team can’t find it, they’ll work for free. The team knows what does and what doesn’t work.
However, this is not an offer that everybody gets or every eCommerce business gets. If you’re just starting out with only 500 people coming to your site, lacking a brand or supply chain in place, you don’t qualify.
How can you trust an agency? You basically make them put their money where their mouth is. Food for thought.