This post was updated on September 13 2017.
You’re here because you need hard facts to justify your investment in conversion rate optimization (CRO) tools. Or maybe you just really love hearing the words “website” and “revenue” in the same sentence.
We’ve collected these stats from a range of industry experts. They’ll help fuel your arguments and get the most out of your optimization tools.
The need for CRO
- Only 22% of businesses are satisfied with their conversion rates. – Econsultancy
- For every $92 spent acquiring customers, only $1 is spent converting them. – Econsultancy
- 57% of B2B marketers say conversion rates are the most useful metric for analyzing landing page performance. – Ascend2
- Just over half of companies and agencies that use landing pages also test them to find ways to improve conversion rates. – MarketingSherpa
- More Google searches for “conversion rate optimization” are being made than ever before. – Google
The growth of CRO
- 60% of online marketers plan to analyze the customer journey to improve their conversion rates. – MarketingCharts
- On average, companies are spending as much as $2,000 a month on CRO tools. – Forbes
- 44% of companies use split testing software. – SEOGadget
- Companies whose conversion rates improved last year are conducting 50% more A/B tests and 47% are using more methods to improve conversion. – Econsultancy
- Top converting companies spend more than 5% of their budgets on optimization. – Adobe
Getting ROI from CRO
- The average return on investment (ROI) from CRO tools is 223%.- Venture Beat
- Using video on landing pages can increase conversions by 86%. – Eyeview
- Of the 36 conversion optimization tools and companies studied, only two failed to generate substantial return on investment. – Venture Beat
- Automation increases average conversion rates from 2.6% to 3.6%. – Adobe
How companies are using CRO
- In 2015, 83% of marketers test and optimize conversion rates for call to action buttons, while 77% test page layout. – Econsultancy
- A/B testing is the most popular form of CRO, with 56% of marketers using this method. – Econsultancy
- 61% of companies conduct up to five landing page tests a month. – Econsultancy
- 62% of marketers use CRO testing to boost lead generation on landing pages. – Ascend2
- 7 in 10 marketers use results from CRO to inform other marketing initiatives. – MarketingSherpa
What can you learn from these stats?
If “conversion rate optimization” isn’t one of the top phrases in your weekly marketing meetings, it should be. You can uncover lost revenue hiding in your website data. Spending time identifying errors and user experience (UX) issues on your website will increase your conversion rates. Remember: your website’s first impression can make or break a sale.
Learn more about how our very own Conversion Funnels tool by clicking the link.