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
There Will Be More Than 3.7 Billion Email Users by the End of 2017
Referrals Have the Highest Conversion Rates of all Customer Acquisition Channels at 3.74%
66% of Marketers use Video in their Lead Nurturing Campaigns
55.5% of Respondents Planned on Upping their CRO Budgets in the Coming Year
Imagescape Saw a 160% Increase in Submissions When They Decreased Form Fields from 11 to a Mere Four
Only About 22 Percent of Businesses are Satisfied with their Conversion Rates
More Conversion Optimization Stats
People are Searching Google for the Phrase “Conversion Rate Optimization” More Than Ever Before
Referrals Have the Highest Conversion Rates of all Customer Acquisition Channels at 3.74%
Using Video on Landing Pages can Increase Conversion by 80%
Conversion Rate Optimization (CRO) Tools Offer a 223% ROI on Average
B2C Companies that Leverage ‘Marketing Automation’ Have Seen Conversions as High as 50%
The Average Number of Form Fields on Landing Page Conversion Forms is 11
There is a 70% greater likelihood of converting re-targeted visitors vs. those who are not
85 Percent of Consumers Conduct Online Research Before Making a Purchase Online
68% of Small Businesses Don’t have a Documented CRO Strategy
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