68% of Small Businesses Don’t have a Documented CRO Strategy

Source

CXL

Topic

Conversion Optimization

Year

2017

Lack of CRO Knowledge

Where do you learn about CRO? Many courses are incomplete or outdated. Also, you need to know a lot of things really well to be good at optimization:

Analytics
Qualitative Research
Statistics
Technical Skills
Heuristic Frameworks
Copywriting
User Experience
Psychology
And more

Of course, you can have a team with specialists for each role, but if you’ve got one person owning the process, they need to know a little bit about each of these (at least enough to QA others’ work).

More 2017 Stats

There Will Be More Than 3.7 Billion Email Users by the End of 2017
Marketers are Now Experimenting with Buyer Engagement through Formats other than Form Fills: Thought Leadership (65%)
Most Companies Spend Less than 5% of Marketing Budgets on Conversion Optimization
66% of Marketers use Video in their Lead Nurturing Campaigns
Bundled Nurturing Content Within a Resource Hub (Instead of Multiple Emails) Produced a 3X Increase in Lead to Pipeline Ratio
The Average Conversion Rate of Visitors Who Saw User Generated Content (UGC) is 161% Higher Than Those Who Didn’t
Imagescape Saw a 160% Increase in Submissions When They Decreased Form Fields from 11 to a Mere Four
Organizations With Revenues Under $500 Million Have a Mean Cost Per Lead of Roughly $180; Companies With Revenues Above $500 Million Spend More Than Double That, at Roughly $430 Per Lead
55.5% of Respondents Planned on Upping their CRO Budgets in the Coming Year
Referrals Have the Highest Conversion Rates of all Customer Acquisition Channels at 3.74%

More Conversion Optimization Stats

60% of deals in the pipeline are lost to “no decision” rather than to competitors.
55.5% of Respondents Planned on Upping their CRO Budgets in the Coming Year
Pages that Rank First on Google Search Results on Desktop have a 34.36% Click-Through Rate
There is a 70% greater likelihood of converting re-targeted visitors vs. those who are not
The Average Number of Form Fields on Landing Page Conversion Forms is 11
8 out of 10 or 82% of Marketers Say Knowing How to Test Effectively is “Somewhat” or “Very Challenging”
Micro-Influencers are Capable of Generating 22.2X Higher Conversion Rates than Other Types of Influencers
B2C Companies that Leverage ‘Marketing Automation’ Have Seen Conversions as High as 50%
On an Average, Businesses Generate $6.50 For Every $1 Invested in Influencer Marketing
Businesses with over 40 Landing Pages Generated a Whopping 12 Times More Leads than those with 1-5 Landing Pages