Looking for the latest conversion stats and trends? We've got you covered.
We spend plenty of time getting prospects to come to our web pages, but it turns out that getting traffic isn’t a problem for most marketers; conversions is the real pain point.
Conversion rate optimization is the holy grail of online business. An increase in your sales conversion rate from 1% to 2% has essentially doubled your revenue. No small feat.
- People are searching Google for the phrase “conversion rate optimization” more than ever before. Source: Google. This also explains why on an average; companies are spending as much as $2,000 a month on CRO tools.
- The average number of form fields on landing page conversion forms is 11. Source: PageWiz). While this is the average, the fact is: less is more. Shortening your form fields from 11 to 4 can increase conversions by 120%.
- Only about 22% of businesses are satisfied with their conversion rates. Source: Econsultancy.
- Conversion rates typically range from1-3%. These numbers are hotly debated. The main thing to keep in mind is that if your conversion rates are in the double digits then you’re a Rock-star. Source: CapSumo.
- 68% of small businesses don’t have a documented CRO strategy. Source: CXL. Do you have one?
- Conversion Rate Optimization (CRO) tools offer a 223% ROI on average. Source: VentureBeat. CRO tools are an excellent investment if you’re seeking to improve your conversions. A recent survey by ConversionXL found 55.5% of respondents planned on upping their CRO budgets in the coming year.
- For every $92 spent acquiring customers, only $1 is spent converting them. Source: Econsultancy
- Only about 22 percent of businesses are satisfied with their conversion rates. Source: Econsultancy.
- Top converting companies spend more than 5% of their budgets on optimization. Source: Adobe.
- Landing pages with multiple offers get 266% fewer leads than single offer pages. Source: Wishpond.
- 44% of companies use A/B or split testing software. Source: Invesp. Testing your landing pages is critical for increasing their effectiveness. Split testing software can make the job much easier.
- Using videos on landing pages will increase conversions by 86%. Source: Wordstream.
- 74% of conversion rate optimization programs increase leads and sales. SOURCE: Marketing Sherpa.
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What can you learn from these stats?
“Conversion Rate Optimization” or “Conversion Optimization” should be on the top of your list for your weekly marketing meetings. You can uncover lost leads and revenue hiding in your website form data.
Learn more about capturing leads with abandoned online form data.