Satisfaction with online conversion drops 5% in the last year
New research has found that most companies are unhappy with their online conversion rate with satisfaction dropping by 5% in one year.
The Conversion Rate Optimization Report 2011 from RedEye & Econsultancy based on a survey of more than 700 client-side and agency digital marketers, found that just 25% said they were satisfied.
Furthermore, there has also been a 5% drop in conversion rate improvement in the last 12 months.
Mark Patron, CEO at RedEye said that dissatisfaction with conversion is a growing problem, but argues that companies can do more to combat the issue: “What we have learnt is people and processes are key. This report highlights just how important employing a structured process is. Companies that had a structured approach to conversion were twice as likely to have seen a large increase in sales. Yet only 31% had a structured process – a major reason satisfaction is so low.”
The research also showed that brands are not adapting to the different communication channels. 84% of companies said they were not designing their marketing emails for mobile devices, and 70% said they were not designing their websites for mobile. Furthermore, 54% of marketers said they did not target basket abandoners
Econsultancy research dDirector, Linus Gregoriadis, said: “Satisfaction rates may be decreasing partly because there is a greater awareness within businesses about the opportunities they may be missing without the right tools and processes in place. Companies will need to increasingly focus on improving conversion rates during 2012, by ensuring they have a structured approach to online optimisation to improve the bottom line.
“The tools for gathering insight and for carrying out tests are becoming more user-friendly and accessible, but organisations must have the right knowledge and expertise around CRO to complement this, both in-house or within their agencies.”
Mark Patron added: “Companies need to act to confront conversion rates head-on, develop an optimisation strategy or they will see rates dropping further. It’s a real competitive advantage for today’s marketers – get it right and you will make a lot more money from your website”.
The Retail Bulletin’s Multi-channel retailing summit will examine how retailers can maximise profits and market share through cost effective, engaging and seamlessly integrated multi-channel strategies. The one-day event will be fully interactive and gives delegates the chance to ask questions and discover insights from retail experts in the multi-channel space.
Held in London on 1st February 2012, the event is retailer-led and other confirmed speakers include Tesco.com, Halfords, Schuh, ASOS, Santander UK plc, Marks & Spencer, Boots.com, Game Group, Alexon Group plc, , Everything Everywhere, o2 Telefónica, Joules Clothing, Adnams Plc, Best Buy UK, Collect Plus, Norbert Dentressangle.
The event was sold out this year so don’t miss out– register now and make a diary note to join your peers on February 1st 2012. Click here for full details.
