Three out of five businesses (59%) believe that conversion rate optimisation is crucial to their overall digital marketing strategy, according to a new report from Econsultancy and RedEye.
A further 40% of respondents consider CRO to be ‘important’ (31%) or ‘quite important’ (9%). In contrast, only 1% of businesses believe that CRO is ‘not important’.
This highlights the growing focus on CRO in an increasingly competitive online marketplace, fuelled in part by more advanced targeting and personalisation technologies.
The findings come from the fifth annual Conversion Rate Optimization Report which is based on a survey of almost 1,000 client-side and agency digital marketers.
Growing importance of CRO
The report also found that nine out of 10 businesses (87%) believe that conversion rate optimisation (CRO) has become more important in the past five years.
Agency respondents echoed the answer given by client-side respondents, with 90% agreeing that CRO has become more important in the past five years.
How do you feel the focus on conversion rate optimisation (within your own or your clients’ organisations) has changed in the past five years?
Barriers to CRO
Though it’s clear that businesses are aware of the importance of CRO, there are still a number of barriers preventing its successful implementation.
Lack of resources (down by 2% since 2012) and lack of budget (up by 1%) have remained the biggest barriers to improving conversion rates for the fifth year in a row.
A conflict of interests between departments is now the third most common barrier (28%), up three places compared to last year’s report.
What are the biggest barriers preventing your organisation from improving conversion rates?