20 November 2014, London – Research published today by Econsultancy and RedEye (www.redeye.com) illustrates the growing appetite among digital marketers to improve conversion rate optimization efforts. Despite 73% of respondents claiming a ‘significant’ or ‘small’ increase in sales conversions over the last 12 months, the proportion of companies either ‘very satisfied’ or ‘satisfied’ with conversion rates has decreased from 28% to 22%.

The sixth iteration of the Conversion Rate Optimization Report looks at the types of conversion strategies and tactics organizations are using, in addition to the tools and processes employed for improving conversion rates. As well as touching on the use and impact of personalization, the research also covers different areas of best practice and identifies methods and techniques which are most valuable for improving conversion rates.

The aim is to provide data and a framework to help companies invest their time and resources as effectively as possible by examining which methods and processes are most likely to yield results. The research is based on a survey of over 1,100 digital marketers carried out in between July and September 2014.

Conversion Rate Optimization (CRO) continues to be a pivotal part of digital success, with 89% of companies calling it ‘crucial’ or ‘important’ to their overall digital marketing strategy. Despite this, many organisations are not executing tactics and strategies which will position them for success.

The research identified eight main areas organizations should focus on in their bid to improve their conversion rates, with many of them centred on the use of a variety of methods. However, most companies are only using a handful of different methods in their conversion efforts.

Mark Patron, CEO of RedEye, said:

“Five years ago the term conversion rate optimization was hardly used. Indeed the survey was then called the Conversion rather than the CRO Report. Looking at the way survey responses have changed over the last five years helps to prioritise what is important to improve website conversion. It is clear that testing, personalization and having a structured approach have become much more important.”

Bola Awoniyi, Research Analyst at Econsultancy, added,

“Conversion Rate Optimization is an irreplaceable activity for organisations who take their digital activities seriously. Organisations that put a premium on their CRO efforts do not just define success by increased conversion rates; they value the continuous ability to improve and learn about their customers. This research provides a framework for organisations, that seek to take their conversion rates to the next level.”

Further analysis of the data explored the extent to which factors are proven to increase conversion. Key findings include:

-) Companies that are improving their conversions typically use 35% more methods than their counterparts who are not seeing conversion rates change positively.
-) Almost all of the responding companies (93%) that use website personalization have seen an improvement in conversion rates since its implementation.
-) Companies with significant increases in sales are completing 6.45 A/B and multivariate tests a month, in comparison to the 2.42 test average among those whose sales are decreasing.
-) 95% of companies who used customer journey analysis, copy optimization and segmentation saw an improvement in their website conversion compared to an average of 72%.

The full 2014 Econsultancy / RedEye Conversion Rate Optimization Report is available for download here:

http://econsultancy.com/reports/conversion-rate-optimization-report

For more information about the report, contact:

Linus Gregoriadis, Research Director, Econsultancy

linus.gregoriadis AT econsultancy.com

OR

Bola Awoniyi, Research Analyst, Econsultancy

bola.awoniyi AT Econsultancy.com

About Econsultancy

Econsultancy’s mission is to help its customers achieve excellence in digital business, marketing and ecommerce through research, training and events.

Founded in 1999, Econsultancy has over 250,000 subscribers, is used by more than 500,000 professionals every month, and has offices in New York, London and Singapore.

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About RedEye

RedEye provide complete technology solutions to digital marketers to allow them to deliver Multi-Channel Marketing Automation solutions for CRM programmes that increase revenue, return on investment and conversion.

RedEye pride themselves on providing tailored Marketing Automation, Multi-Channel Marketing, Email Marketing and Behavioural Marketing Solutions. RedEye are also market leaders in Website Personalisation. RedEye’s solutions are driven by a unique database that combines all customer data, online and offline, from store purchases to products browsed, and makes this vast depth and breadth of data available to users through sophisticated and intuitive tools and interfaces.

Since 1997 RedEye have been developing technological solutions for web analysts, email marketers and now multi-channel and customer experience marketing practitioners. RedEye are also proud to be a five-times winner for best use of email, as well as receiving awards for Supplier of the Year, but most of all delighted that their technology enables their clients to completely fulfil their digital marketing needs.

RedEye clients include Radley, Interflora, Avis, Monarch, ASOS, M&S, Hotel Chocolat, esure, PayPlan, Sainsbury’s Bank, Gala Coral and William Hill.

To find out more about RedEye visit www.redeye.com.

Published on: 11:08AM on 20th November 2014