If you’re looking to start an eCommerce business or already have one, here is a truth you must know - 90% of online businesses fail within four months of launch (Forbes).
That’s because there’s way too much to do and most businesses do not have enough in-house expertise, resources, or funds for it. From managing the storefront to customer support to social media - running an online business requires many resources.
But smart business set ups can beat failure. How?
By hiring Shopify retainer services.
In this blog, we explore all the aspects of choosing the right Shopify retainer for your business.
Let’s get started!
What is a Shopify retainer?
A Shopify retainer is an ongoing association between Shopify merchants and agencies or teams of Shopify experts. The agency provides ongoing services of various types for a monthly fee. Services may include technical support for back and front end, design, strategy, marketing, and more.
Having Shopify retainer services can help businesses create seamless workflows, save money by paying a predictable monthly fee, speed up work, improve website performance, and grow business proactively, among other advantages.
Understanding the different types of retainers
A Shopify business requires all sorts of skills and experts to function smoothly to reach its goals. Here are the different types of retainers typically hired by online businesses.
1. Design retainers
Design retainers offer design related support to Shopify brands. They may include designers, UX/UI experts, mobile optimization experts, branding experts, among others. Shopify design retainers help brands in maintaining all the visual aspects of the store front. And may also include aspects of the backend.
For example, if a Shopify brand updates new products every month, has new seasonal collections in the inventory, has frequent sales, etc., their design retainer team will provide all the services required for it.
2. Development retainers
Development retainers provide support related to technical aspects, software upgrades, integrations, migration, and regular maintenance, among others. This Shopify retainer service may also include performance optimization, API management, strategic technical guidance, emergency technical support, etc.
For example, say you have a sale on your website and the overload of traffic affects page loading speed. Your development retainer team will come in with a quick and efficient solution to bring the speed back to normal, so that your business is not impacted.
3. Marketing and CRO retainers
Marketing and conversion rate optimization (CRO) retainers provide support to help Shopify brands increase traffic, conversions and revenue. Their expertise involves strategic marketing, data analytics and optimization, cart abandonment recovery campaigns, customer segmentation, personalization, etc.
For example, say you want to run a referrals campaign to gain new customers from your existing customers. Your marketing and CRO Shopify retainer team will develop a campaign, from strategizing to execution.
4. Full-service retainers
Full-service Shopify retainers offer multiple services in one package. It comprises a comprehensive team of experts in various disciplines, such as design, content, marketing, technical development, CRO, strategy, performance monitoring, analytics, and more.
With this Shopify retainer services, you can have a single point of contact for all your Shopify store needs. This type of Shopify retainer arrangement can help streamline your processes and cost less than hiring multiple experts.
Factors to consider before choosing Shopify retainer services
Before you narrow down on a type of retainer, consider these factors to get an understanding of your business requirements.
1. Store size and complexity
A small Shopify store with basic functionalities might require simple maintenance. However, a large store with more complex processes will require more services, such as technical, strategic, content marketing, and more.
Here are some factors to consider:
-
No. of pages on website
-
Catalog size
-
Third-party integrations
-
Customization requirements
-
Complex features
-
Traffic volume
2. Business goals and growth plans
To be able to meet your business goals and growth plans you will require various types of support for your website. Consider these aspects when looking for Shopify retainer services:
-
Revenue targets
-
Product launch schedules
-
Customer acquisition targets
-
Market expansion plans
-
Short and long-term business goals
-
Operational efficiency improvements
-
Technology infrastructure additions
3. In-house capabilities vs. gaps
Unless you’re a large organization, it’s difficult to have an in-house employee for every skill. Identify the skills gaps in your teams and what kind of external expertise could add value. This way you can find Shopify retainer services with complementing skills.
Here are some skills your existing team and retainers should have:
-
Shopify development and maintenance
-
UI/UX and design
-
Digital marketing
-
Customer acquisition
-
Data analysis and performance optimization
-
Strategy, planning
-
Business development
4. Frequency of support needed
The number of times you will require support from your retainer team depends on many factors. For instance, your industry and market dynamics, the stage at which your business is, your operational schedules, etc.
Here’s what you must consider:
-
Frequency of design and content requirements
-
Technical support requirement based on past history
-
Seasonal requirements based on your industry and market
-
Regular maintenance requirements
-
Strategy and business development needs
-
Marketing campaign requirements
Decision framework to pick the right fit
Zeroing in on your Shopify retainer services is easier said than done. You will need to give careful consideration to various factors. Here’s a framework to help you pick the right retainer fit for your Shopify store.
1. Matching goals with retainer types
When it comes to hiring retainers, a one-size-fits-all approach doesn’t work because every business has specific requirements. Hence, your retainer selection needs to be aligned with your business goals.
Here are some common business goals and the suitable retainer for each:
-
Revenue and profit growth: conversion optimization, strategy, and marketing retainers
-
Operational efficiency: Shopify development and technical support retainers
-
Brand building: design, content, strategy and marketing retainers
-
Market expansion: marketing, and customer acquisition retainers
2. Budget alignment
One of the most important aspects that drives the decision to hire Shopify retainer services is budgets. And this isn’t limited to how much money your business has to invest in a retainer. It’s also about the value your retainer provides to your business. Here’s what you can do:
-
Consider the monthly retainer fee
-
Calculate the projected and potential revenue increase
-
Assess the effectiveness of your marketing plans
-
Measure how faster technical support will impact your business
3. Flexibility and scalability
Your business is bound to go through changes and your retainer should be able to adapt to changes. For example, when your business reaches a stage where it’s ready to scale, your retainer should have the capacity and ability to help your business scale.
For instance, assess if your potential retainer will be able to provide flexible service based on seasonal changes, market fluctuations, support your new initiatives, adapt to your changing priorities, etc.
4. Evaluating retainer agency expertise
Last but not the least, you must assess the aspect for which you’re hiring a retainer agency. Evaluate their skills, expertise, experience in your specific industry, overall expertise, achievements, certifications, communication skills, etc. The quality and competency of your retainer team will directly impact your business performance.
Common mistakes to avoid when hiring Shopify retainer services
Here are some of the common mistakes we see brands have made by the time they reach us seeking assistance:
-
Choosing a Shopify retainer agency based on cost alone
-
Not considering long-term scalability capability of the retainer
-
Overlooking communication and reporting practices
-
Not having an understanding of your business objectives
Wrapping up
Hiring retainers can help your business in many ways. However, hiring the right Shopify retainer is critical. Not only do you want to partner with the most suited type of retainer service, you also want your retainer to help your business grow and function just like your in-house team.
If you’re looking for efficient Shopify retainer services for your various business requirements, contact XgenTech.
