New report finds just 25% of marketers are satisfied with online conversion, with satisfaction dropping by 5% in one year

New report finds just 25% of marketers are satisfied with online conversion, with satisfaction dropping by 5% in one year

Just 25% of marketers said they were satisfied with their online conversion rate and, worryingly, this figure is dropping. Similarly, there has been a 5% drop in conversion rate improvement in just 12 months.

These are the findings from the Conversion Rate Optimisation Report 2011 published today by behavioural email specialist RedEye and digital marketing consultants Econsultancy, which show most companies are not happy with their online conversion rate.

The report stated that dissatisfaction with conversion is a growing problem, yet that companies were slow on the uptake. Mark Patron, RedEye chief executive, said: “This research shows there are major opportunities for key executives to focus on the bottom line – generating business – it’s just not being done effectively. With a clear CRO [conversion rate optimisation] strategy and best practice procedures in place, and implemented intelligently, companies can see a serious uplift in sales. Just a few per cent improvement in conversion makes a significant difference to revenues generated.

“What we have learnt is people and processes are key. This report highlights just how important employing a structured process is. Companies that had a structured approach to conversion were twice as likely to have seen a large increase in sales. Yet only 31% had a structured process – a major reason satisfaction is so low.”

Missing out on follow-up opportunities

Coupled with this low level of satisfaction, 54% of marketers do not target basket abandoners. Yet the stats are clear: 70% of companies who target abandoners have increased sales.

In addition, the report found brands were not adapting to the different communication channels; 84% of companies are not designing their marketing emails for mobile devices, and 70% are not designing their websites for mobile either.

Linus Gregoriadis, Econsultancy research director, added: "Satisfaction rates may be decreasing partly because there is a greater awareness within businesses about the opportunities they may be missing without the right tools and processes in place. Companies will need to increasingly focus on improving conversion rates during 2012 by ensuring they have a structured approach to online optimisation to improve the bottom line.

"The tools for gathering insight and for carrying out tests are becoming more user-friendly and accessible, but organisations must have the right knowledge and expertise around CRO to complement this, both in-house or within their agencies."

The research was based on a survey of more than 700 client-side and agency digital marketers carried out in July and August 2011.