How Much of your Marketing Budget do you Spend on Conversion Optimization?
Most Companies Spend Less than 5% of Marketing Budgets on Conversion Optimization
A majority of companies (53%) spend less than 5% of their total marketing budgets on optimization activities, despite the fact that a small uplift in conversion rates can translate into millions of dollars of extra revenue.
In total, 86% of companies surveyed allocate 15% or less of their marketing budget to optimization activities, while at the other end of the scale only 3% of respondents allocate more than half of their marketing budget to optimization efforts.
More 2017 Stats
66% of Marketers use Video in their Lead Nurturing Campaigns
Imagescape Saw a 160% Increase in Submissions When They Decreased Form Fields from 11 to a Mere Four
Writing your subject line entirely in upper case significantly reduces response rates by 30%
Referrals Have the Highest Conversion Rates of all Customer Acquisition Channels at 3.74%
68% of Small Businesses Don’t have a Documented CRO Strategy
More Conversion Optimization Stats
55.5% of Respondents Planned on Upping their CRO Budgets in the Coming Year
44% of Companies use A/B or Split Testing Software
There is a 70% greater likelihood of converting re-targeted visitors vs. those who are not
Companies see a 55% Increase in Leads when Increasing their Number of Landing Pages from 10 to 15
Using Video on Landing Pages can Increase Conversion by 80%
85 Percent of Consumers Conduct Online Research Before Making a Purchase Online
Referrals Have the Highest Conversion Rates of all Customer Acquisition Channels at 3.74%
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