Study: Marketers Value Conversions, But Still Have Room for Improvement

New research indicates that marketers are still fairly concerned about conversion rate optimization, but they are not seeing overwhelming success in this area.

The “Conversion Rate Optimization Report 2017” report from Econsultancy and RedEye discovered that this year, 50 percent of marketers considered conversion rate optimization “crucial” to their overall digital marketing strategy. About 38 percent considered it at least “important,” while 11 percent said it was “quite important.”

Over the last 12 months, 71 percent of respondents said that their online conversion rates had improved. However, the percentage was the same in 2016, and this was a decrease from the 73 percent of marketers who cited improvements in 2015.

In terms of satisfaction with conversion rates, the majority of respondents (35 percent) claimed that they were neither satisfied nor dissatisfied with their conversion rates. Approximately 28 percent said that they were quite dissatisfied.

“Choosing where to focus your conversion rate optimization efforts in order to maximize returns requires a clear understanding of your customers; stepping into their shoes and setting objectives around their path to purchase and the ways in which you can best optimize that,” wrote the authors of the report.

Customer Personalization and Long-Term Relationships

Customer personalization may not only help with conversion rates, but relationships in the long-term. The “2017 Trends in Personalization” report from Evergage found that 96 percent of marketers agree that personalization can help advance customer relationships.

Approximately 73 percent of respondents stated that personalization should be a larger priority at their organization. Within the next year, 46 percent of marketers intend to increase their budget for these efforts.