Companies who take a more systematic approach to testing and optimisation are reaping the benefits of improved conversion rates, according to the Econsultancy / RedEye Conversion Report.
The report finds that companies whose conversion rates had improved over the last 12 months carried out on average three times more website tests than those whose conversion rates had not improved.
More highlights from the survey after the jump…
Methods used to improve conversions
The most commonly used methods for improving conversions are customer journey analysis (54%) and copy optimisation (53%), while the use of A/B testing has risen from 32% to 44% this year.
Though 39% of companies in last year’s report said they intended to use multivariate testing (MVT), just 17% are doing so, the same proportion as last year.
MVT is something more companies should consider using – almost half of respondents (48%) consider it to be a valuable method for increasing conversions.
The report also found that organisations whose conversion rates had improved over the previous 12 months used 45% more methods to improve conversion compared to those whose conversion had not improved.
Satisfaction with conversion rates
The companies surveyed are generally happier with their conversion rates, compared with last year’s study.
The figures do suggest that there is much room for improvement though, with no company respondents proclaiming themselves very satisfied, though 26% said they were satisfied, a marginal increase on last year.
Fewer companies say they are “quite dissatisfied” or “very dissatisfied” with their conversion rates – 36% compared with 36% in 20210.
There is a disparity between company and agency respondents though: just 24% of agencies surveyed said that their clients were dissatisfied.
Staff responsible for conversion rates
The report finds that more companies are providing the staff and resources to improve conversion rates.
For 70% of companies, at least one member of staff is directly responsible for improving conversion, up from 60% in last year’s survey. The proportion of companies that have more than one person in place has significantly increased in the last year, from 20% to 37%.
Barriers to improving conversion rates
The biggest issue preventing companies from increasing conversions is a lack of resources, cited by half of respondents, followed by lack of budget (29%).
Just under a quarter of companies (24%) are hindered by the poor integration between systems, their siloed organisation and conflict of interest between different departments.
For agency respondents lack of resources (37%), lack of a strategy (36%) and conflicts of interest between departments (35%) were the biggest obstacles to improving conversion rates.