There is no doubt that the conversion rate is one of the key performance factor in the real success of any online business. While other online marketing approaches (SEO, Paid Advertising) merely focus on rankings and traffic generation, but the CRO (Conversion Rate Optimization) is the actual lead to get the value from the visitors. There is no means of getting tons of traffic and high Google rankings until the potential visitors are not performing the actions that we want.
On an average, 50% of boost in conversion rate can increase your business profit by 500%. But Unfortunately, most of the online marketing leaders are still unaware about the term “Conversion Rate Optimization”, why does it matter for the business and how to do it effectively to get maximum possible results. By overlooking the Conversion Rate Optimization, marketers are missing out the shining opportunities of earning millions of dollars.
You can have the opportunity to turn your online business at a more advanced level by applying appropriate CRO strategy. But, before applying CRO to your website, just have a look at 35 amazing facts about Conversion rate optimization.
- A very small ratio of companies is fully satisfied with their conversion rate and only 22% of them are quite satisfied.
- 74% of conversion rate optimization practices escalate the annual sales in a big ratio.
- Among all the traffic generation sources such as social media, advertising, etc, the email marketing has the highest conversion rate of 3.34%
- Only 25% of the average annual marketing budget is allotted for web marketing.
- Companies spend hundreds of dollars in driving traffic, but spends less than 5% to convert that tons of traffic into buying customers.
- Only 31% of companies performs some kind of testing to analyze the issues in websites.
- 59% of companies believe that conversion rate optimization is the most challenging task in their digital marketing strategy.
- The average conversion rate for all types of business ranges from 3% to 10%.
- Around 57% of marketing leaders says that conversion rate is the most important factor to analyze the performance of a landing page.
- 82% of marketing professionals still don’t know how to effectively test the website for conversion rate optimization.
- 17% of companies believe that the split testing is the most effective conversion rate optimization technique among all the other testings.
- Approximately, 44% of online customers share their bad experience with their friends about shopping.
- 56% of marketers say that fewer number of form fields impact the website performance in a great extent.
- 55% of companies have a website that is optimized for mobile devices. Remaining 45% of companies loss their customers due to the lack of responsive web design.
- 2 in every 5 digital marketers says that their mobile conversion rate is less than 0.5%.
- 63% of companies believe that their ROI is the most important success measure.
- 52% of companies have reported that they are not able to improve conversion rate due to lack of resources.
- To understand the behavior of customers, 60% of companies do customer journey analysis, 48% do online surveys and takes customer feedbacks.
- The compelling headlines can increase 90% chance of reading the text in call to action buttons.
- 3 out of every 5 customers leave the website before making any purchase from an online store.
- Most of the e-commerce website have enough traffic, but their conversion rate typically ranges between 1% to 3% only.
- 61% of customers use reviews before buying any product from online stores.
- A little delay in loading time of the page can cause 7% drop in conversion rate.
- An explanatory video can increase the conversion rate up to 86%.
- Conversion rates for tablets are 2.59%, while for smartphones, it is only 1.01%.
- Companies that have mobile friendly websites see a 4 times increase in conversion rate and 2 times increase in annual revenue compared to the companies that don’t have a mobile optimized website.
- Personalized emails can improve the conversion rate and click through rate up to 10% and 14% respectively.
- Most of the companies are still unable to find which conversion rate optimization technique can work effectively for their website.
- Around 48% of digital marketers create a new landing page for each online marketing campaign.
- 1 in every 5 companies reports that they don’t have the right strategy for landing page testing.
- Companies that followed the structured approach have seen an increase in sales at a very large scale.
- 42% of the marketers think that explaining the results is the most onerous task in the conversion rate optimization
- 83% of retailers in the world say that the “customer experience” is the most important factor in their business success.
- 39% of client side marketers give the top priority to conversion rate optimization practices.
- On an average, 72% of companies believe that “real time marketing activities” are often helpful in improvement of conversion rate.
So, this was the list of amazing eye-popping facts showing what the companies and marketers think about CRO. Based on the above facts, it can be said that the results from CRO are incredible, but a very few of marketers are aware about it and a lot of them don’t know which CRO strategy they should use for their business. Therefore, the new marketers should understand that the CRO is the milestone for every online business, and can really improve their business bottom line if implemented carefully.