Here’s Why A DFY Ecommerce Executive May Be Your Quick Route To Success
By Rob Green
28 Nov 2022
No one buys a product at the very first sight. The actual conversion rate or the percentage of website visits that ends up with a transaction is only 1-2% across different industries and product types. This means we’re left with a ratio of 100 web visitors to only 1 conversion.
Even if your eCommerce business experiences a few good marketing wins, there might come a point when you might feel stuck and fail to achieve your targets.
In this situation, you are forced to wonder what you're missing. Or is there a new channel that you should explore? Or perhaps hire another eCommerce expert to pull you out of this situation?
In reality, it’s not a matter of expanding to new channels and throwing more money into ads, the key is to take your conversion rate optimization (CRO) to a new level.
What is CRO?
Conversion rate optimization (CRO) is one of the most valuable tools to measure the return on investment. (ROI). CRO improves the shopping experience to drive a specific KPI. You do it when you improve your eCommerce conversion rate by making small, incremental improvements.
Below are the typical conversions for an eCommerce store:
- An Online sale
- Added products to a cart
- Added items to a wishlist
- Email signups
- Social media shares
- Any KPI your company finds valuable.
The 5-step framework of conversion rate optimization
There is a problem with conversion rate optimization: It looks easy.
We often go about running conversion rate optimization campaigns on the basis of tips and hacks available widely on the internet, but they fail to deliver in most cases. Randomly tweaking your website and landing pages without a proper strategy is like walking on a dark road without a roadmap.
Let’s have a look at the 5-step framework for conversion rate optimization:
- Research Phase: In this phase, we identify and discover the areas of your conversion funnel that needs improvement and tweaking.:
- Hypothesis phase: Construct a well-defined working hypothesis based on your metrics and research
- Prioritization Phase: Prioritize the testing ideas by figuring out what to attack first for your optimization.
- Testing phase: Put your hypothesis up against the existing version of your website and chose the right testing methods by running an experiment
- Learning phase: Deploy the winning hypothesis and gather information and analyze them for future tests and planning.
CRO should be seen as a continuous cycle where you’re constantly measuring, analyzing, optimizing, and testing in order to stay ahead of your competition and improve your user experience.
Regular A/B tests along with other optimization techniques give you the best result. Leveraging Key performance indicators like customer acquisition cost, customer lifetime value, monthly recurring revenue, and sales cycle duration are just some to be aware of.
How to make sure you’re doing CRO the right way
Now that you have understood how crucial it is for you to utilize conversion rate optimization you have two options:
Option 1: Hire a CRO specialist
A CRO consultant will help you develop and oversee the project’s strategy from start to finish.
He will better understand your key customers and attract to engage them. He’ll determine the action plan you should take to optimize the store’s website, and improve the conversion rate, user experience, and the business itself.
Read also: Qualities to look for in a CRO specialist
Even though hiring an adept CRO consultant can boost your business and give you immediate results but they might be expensive and don't guarantee you results. Outsourcing an expert does not mean they take complete responsibility for the tasks, you face issues like lack of direct oversight and day-to-day supervision.
If you hire separate individuals for conversion rate optimization and services, you might experience a huge gap in communication. Lack of guaranteed success and approval means that the company might face financial burdens born out of a failed study.
Option 2: Hire BeUniqueness (the obvious option)
BeUniqueness Executive DFY eCom Scaling Program offers entrepreneurs like you a one-stop solution to scale your business and handle all the tasks including handling paid media channels, designing creatives, CRO, and much more under one roof so that you can enjoy a passive income stream without lifting a finger.
You will get one expert team dedicated to your eCommerce store who will manage both the service side of it as well as the conversion rate optimization side of it resulting in effective communication and a huge improvement in conversion. You will have access to the AutoTech dashboard which allows you to monitor and track your store’s performance live.
The risk-free program offers you a 12-month money-back guarantee.
Contact us to learn more about how the Executive DFY eCom Scaling Program can scale your business.