ADOTAS – No one said conversion is as easy as 1-2-3, but a firm grasp of the building blocks will definitely improve the process according to the “Conversion Report” recently released by Econsultancy and RedEye.
A survey of 700 digital marketers conducted by Econsultancy found that 70% of client-side respondents had witnessed better conversion rates in the past year even with the recession, but nearly 40% of digital marketers said they were not impressed with their conversion rates. Only a quarter of companies interviewed were satisfied with their rates
Structure appeared to be the most important factor for improving conversion — companies with at least one employee directly responsible for upping the rates recorded better results. Beside that, satisfied organizations carried out four times as many tests on web properties as dissatisfied ones.
In general, companies that had improved conversion rates examined twice as many segments as those whose rates slipped, with the most popular being demographic (39%), geographic (36%) and behavioral (33%). And although 95% of total respondents considered A/B testing highly or quite valuable, only 32% actually practiced the technique. However, 46% of companies were planning to start A/B testing.
“We find improving conversion by 10% can be a lot cheaper than spending 10% more with Google, but it is more complex,” said RedEye CEO Mark Patron. “Companies’ lack of resources is cited in the report as the biggest barrier to improving conversion.”
As for tools to improve conversion rates, customer journey analysis is the most well regarded, with 96% of respondents highlighting its value. While it was also the most widely used tool with a 48% participation rate, only 14% of those companies felt said they performed the process well. Technologies likely to have a negative effect on conversion rates included content management systems (24%), on-site search (23%) and e-commerce platforms (22%).