Roughly 6 in 10 company marketers from around the world (but primarily UK-based) say that conversion rate optimization is “crucial” to their overall digital marketing strategy, per results from a new study [download page] produced by Econsultancy in association with RedEye. In line with that importance, almost 9 in 10 report that their organization’s focus on conversion rate optimization has increased over the past 5 years. Encouragingly, for the first time in several years, respondents are claiming a slight uptick in satisfaction with their conversion rates.
While just 2% of in-house marketers said they are very satisfied with their conversion rates this year, 26% reported being quite satisfied, up from 21% last year. There hasn’t been much change this year in the proportion saying they’re quite (31%) or very (9%) dissatisfied, such that the increase in those quite satisfied appears to have come from those who were neutral on the topic last year. Still, more marketers appear to be dissatisfied (40%) than satisfied (26%) with their conversion rates, leaving plenty or room for continued improvement.
Also of note this year, 73% of company respondents said that their online conversion rates have improved over the past 12 months, up from 65% over the past 2 years. The most common improvements have come for page views (74% reporting some increase), sales (70%) and sign-ups/registrations (63%).
- Only 53% of company respondents feel that they organization has quite a lot (41%) or a great deal (12%) of control over conversion rates, down from 56% last year.
- 19% incentivize staff based on improving conversion rates, down from 24% last year.
- 26% have a structured approach to improving conversion rates, basically unchanged from last year.
- Lack of resources (52%) was the most-commonly cited barrier preventing organizations from improving conversion rates, followed by lack of budget (36%) and conflict of interest between different departments (28%).
About the Data: This is Econsultancy’s fifth Conversion Rate Optimization Report carried out in association with RedEye. There were almost 1,000 respondents to the research request, which took the form of an online survey in July and August 2013. Respondents included both client-side (in-house) organizations who want to improve their conversion rates (54%), and agencies, vendors or consultancies (supply-side) who are involved in trying to improve conversion rates for their clients (46%).
A majority 67% of client-side respondents are UK-based.