TrustRadius Conversion Rate Optimization Survey Results 2014

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Results from the 2014 Conversion Rate Optimization Survey.

2,300 TrustRadius members and 1,800 site visitors were asked to participate in the 2014 CRO survey to understand their practice maturity level, tool usage and spend on Digital Analytics and A/B testing software. The key results are included in this presentation.

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TrustRadius Conversion Rate Optimization Survey Results 2014

  1. 1. Conversion Rate Optimization: A Survey into CRO Practice Maturity, Software Usage & Spend August 2014
  2. 2. Introduction Conversion  Rate  Op/miza/on  (CRO)  is  becoming  more  and  more  important  as   companies  look  for  ways  to  improve  their  website’s  effec7veness  at  conver7ng   visitors  into  buyers.     2,300  TrustRadius  members  and  1,800  site  visitors  were  asked  to  par/cipate  in   the  2014  CRO  survey  to  understand  their  prac7ce  maturity  level,  tool  usage  and   spend  on  Digital  Analy7cs  and  A/B  tes7ng  soHware.  The  key  results  are  included  in   this  presenta7on     TrustRadius  has  just  published  a  Buyer’s  Guide  to  Conversion  Rate  Op/miza/on   (hLp://www.trustradius.com/guides/cro)  designed  to  help  marketers  navigate  the   various  technologies  required  to  support  a  conversion  op7miza7on  program.     About  TrustRadius     TrustRadius  is  the  leading  community  for  business  so6ware  users  to  share  real-­‐world  insights   through  in-­‐depth  reviews  and  networking.  Our  mission  is  to  help  users  make  smarter  product   selec>on,  implementa>on  and  usage  decisions.  Join  today:  www.trustradius.com    
  3. 3. Demographics of Survey Respondents 30.9%& 34.0%& 23.4%& 11.7%& 1+50& 51+500& 501+5000& 5001+& How$many$employees$does$your$company$have?$ •  165  CRO  experts  par7cipated  in  the  survey.  Responses  from  consultants   were  excluded  from  the  final  analysis     •  Findings  are  based  on  97  responses  from  end-­‐users  of  CRO  soHware    
  4. 4. 2014 CRO Survey - Key Findings More  than  two-­‐thirds  of  companies  surveyed  have  moved  beyond  the  infancy  stage  72%  of  companies  have  some  CRO  processes  in  place.      18%  consider  CRO  part  of  their  DNA.     Digital  Marketers  rely  on  mul/ple  digital  analy/cs  and  A/B  Tes/ng  tools  for  CRO      91%  of  respondents  from  companies  of  all  sizes  use  2  or  more  digital  analy7cs  tools.  43%  of  respondents  use  2  or  more  tools  for  A/B  tes7ng.     Most  spend  >$10,000  on  digital  analy/cs  tools,  and  44%  do  on  A/B  tes/ng  tools      58%  of  companies  spend  more  than  $10,000  on  digital  analy7cs  per  year.    44%  of  companies  spend  more  than  $10,000  on  A/B  tes7ng  tools  per  year.     …  and  many  plan  to  increase  spend  on  both  digital  analy/cs  and  A/B  tes/ng  tools        59%  of  companies  plan  to  spend  more  on  digital  analy7cs  tools  this  coming  year.    48%  of  companies  plan  to  spend  more  on  A/B  tes7ng  tools  this  coming  year.    
  5. 5. 0%# 28%# 29%# 26%# 16%# 2%# What’s#CRO?#We’re#s5ll#looking#for#informa5on#and#best# prac5ces.# In#its#infancy:#We#focus#on#conversion#and#are#learning#the# tools.#CRO#is#an#adhoc#process.# No#expert#yet:#Processes#are#in#place#within#the#organiza5on.# Regular#conversion#tests#are#run.# Part#of#our#business:#We#run#siteMwide#tes5ng,#targe5ng,#and# segmenta5on.#CRO#is#a#standard#process.# CRO#is#in#our#DNA:#We#run#siteMwide#tes5ng#and#targe5ng,#and# qualita5ve#&#customer#psychology#research.# Website#innova5on#is#our#DNA:#We#are#pioneering#and#tes5ng# boundaries#of#research#and#are#innovators.# How$would$you$rate$the$CRO$maturity$of$your$organiza7on?$ 72% of companies surveyed have moved beyond the infancy phase
  6. 6. Company size vs. CRO maturity 31%$ 20%$ 53%$ 34%$ 41%$ 24%$ 23%$ 28%$ 6%$ 12%$ 12%$ 18%$ BEGINNER$ INTERMEDIATE$ ADVANCED$ How$many$employees$does$your$company$have?$ 1750$ 517500$ 50175000$ 5001+$
  7. 7. 91% of respondents use 2+ digital analytics tools 0%# 10%# 79%# 12%# 0%# None# 1# 2,5# 6,10# 10+# How$many$digital$analy.cs$tools$[including$web,$mobile$ and$in6page$analy.cs]$does$your$company$use$for$CRO?$
  8. 8. This pattern is consistent across company sizes Small: 1-50 employees Mid-Size: 51-500 employees Large: >500 employees 6.9%% 9.4%% 12.1%% 86.2%% 78.1%% 72.7%% 6.9%% 12.5%% 15.2%% SMALL% MID2SIZE% LARGE% How$many$digital$analy.cs$tools$[including$web,$mobile$ and$in6page$analy.cs]$does$your$company$use$for$CRO?$ None% 1% 225% 6210% 10+%
  9. 9. Organizations with Mature CRO Processes Use More Tools 9.6%% 5.9%% 78.7%% 82.4%% 82.4%% 11.7%% 11.8%% 17.6%% BEGINNER% INTERMEDIATE% ADVANCED% How$many$digital$analy.cs$tools$[including$web,$mobile$and$ in6page$analy.cs]$does$your$company$use$for$CRO?$ None% 1% 2;5% 6;10% 10+%
  10. 10. 58% spend >$10,000 on digital analytics tools per year 3%# 16%# 23%# 25%# 27%# 6%# $0# $1+$1000# $1000+$10,000# $10,000+$50,000# $50,000+$500,000# $500,000+# How$much$does$your$organiza3on$spend$per$year$on$ digital$analy3cs$tools$for$CRO?$
  11. 11. Spend grows with company size 10.3%& 34.5%& 9.4%& 6.1%& 41.4%& 18.8%& 12.1%& 6.9%& 40.6%& 24.2%& 3.4%& 31.3%& 42.4%& 3.4%& 15.2%& SMALL& MID&SIZE& LARGE& How$much$does$your$organiza3on$spend$per$year$on$digital$ analy3cs$tools$for$CRO?$ $0& $18$1000& $10008$10,000& $10,0008$50,000& $50,0008$500,000& $500,000+&
  12. 12. More mature organizations spend more on analytics software, though not markedly so 3.2%% 5.9%% 16.0%% 15.7%% 17.6%% 23.4%% 25.5%% 17.6%% 24.5%% 23.5%% 29.4%% 26.6%% 29.4%% 17.6%% 6.4%% 5.9%% 11.8%% BEGINNER% INTERMEDIATE% ADVANCED% How$much$does$your$organiza3on$spend$per$year$on$digital$ analy3cs$tools$for$CRO?$ $0% $1;$1000% $1000;$10,000% $10,000;$50,000% $50,000;$500,000% $500,000+%
  13. 13. 5%# 37%# 51%# 8%# Less# About#the#same# Slightly#more# Substan:ally#more# How$would$you$describe$the$spend$your$organiza6on$plans$to$ allocate$in$the$next$year$on$digital$analy6cs$so8ware?$ 59% plan to spend more this coming year
  14. 14. … 67% for large enterprises (>500 employees) 7%# 3%# 6%# 35%# 48%# 27%# 48%# 45%# 58%# 10%# 3%# 9%# SMALL# MID3SIZE# LARGE# How$would$you$describe$the$spend$your$organiza6on$plans$ to$allocate$in$the$next$year$on$digital$analy6cs$so8ware?$ Less# About#the#same# Slightly#more# SubstanGally#more#
  15. 15. 9%# 49%# 42%# 0%# 1%# None# 1# 2,5# 6,10# 10+# How$many$A/B$tes/ng$tools$does$your$company$ use$for$CRO?$ 43% of respondents use 2+ tools for A/B testing
  16. 16. … 52% for Small Businesses (1-10 employees) Small: 1-50 employees Mid-Size: 51-500 employees Large: >500 employees 6.9%% 6.3%% 12.1%% 41.4%% 56.3%% 48.5%% 51.7%% 34.4%% 39.4%% 3.1%% SMALL% MID%SIZE% LARGE% How$many$A/B$tes/ng$tools$does$your$company$use$for$ CRO?$ None% 1% 2;5% 6;10% 10+%
  17. 17. 6%# 28%# 22%# 25%# 18%# 1%# $0# $1*$1000# $1000*$10,000# $10,000*$50,000# $50,000*$500,000# $500,000+# How$much$does$your$organiza3on$spend$per$year$ on$A/B$tes3ng$tools$for$CRO?$ 44% spend >$10,000 on A/B testing tools
  18. 18. Spend clearly grows with company size 3.8%% 6.7%% 6.9%% 65.4%% 16.7%% 6.9%% 26.9%% 30.0%% 10.3%% 3.8%% 36.7%% 31.0%% 10.0%% 41.4%% 3.4%% SMALL% MID4SIZE% LARGE% How$much$does$your$organiza3on$spend$per$year$on$A/B$ tes3ng$tools$for$CRO?$ $0% $14$1000% $10004$10,000% $10,0004$50,000% $50,0004$500,000% $500,000+%
  19. 19. 5.9%% 4.3%% 28.2%% 27.7%% 33.3%% 22.4%% 25.5%% 20.0%% 24.7%% 21.3%% 33.3%% 17.6%% 21.3%% 6.7%% 6.7%% BEGINNER% ADVANCED% PRO% How$much$does$your$organiza3on$spend$per$year$on$A/B$tes3ng$ tools$for$CRO?$ $0% $1;$1000% $1000;$10,000% $10,000;$50,000% $50,000;$500,000% $500,000+% … and for the most part with CRO Maturity
  20. 20. 2%# 50%# 36%# 12%# Less# About#the#same# Slightly#more# Substan;ally#more# How$would$you$describe$the$spend$your$organiza6on$plans$ to$allocate$in$the$next$year$on$A/B$tes6ng$so;ware?$ 48% plan to spend more this coming year
  21. 21. 50.0%% 47.9%% 40.0%% 36.0%% 41.7%% 33.3%% 11.6%% 10.4%% 26.7%% SMALL% MID%SIZE% LARGE% How$would$you$describe$the$spend$your$organiza6on$plans$to$ allocate$in$the$next$year$on$A/B$tes6ng$so;ware?$ Less% About%the%same% Slightly%more% SubstanFally%more% … 60% for large enterprises (>500 employees)
  22. 22. Spend plans by CRO Maturity 5.9%% 4.3%% 28.2%% 27.7%% 33.3%% 22.4%% 25.5%% 20.0%% 24.7%% 21.3%% 33.3%% 17.6%% 21.3%% 6.7%% 6.7%% BEGINNER% INTERMEDIATE% ADVANCED% How$much$does$your$organiza3on$spend$per$year$on$A/B$tes3ng$ tools$for$CRO?$ $0% $1;$1000% $1000;$10,000% $10,000;$50,000% $50,000;$500,000% $500,000+%
  23. 23. Download FREE Buyer’s Guide to Conversion Rate Optimization Software>> Featured CRO Experts: Bryan Eisenberg, Stephane Hamel, Ryan Garner, Tim Ash, Chris Goward … and many more! Learn More About Conversion Rate Optimization Get your free copy! www.trustradius.com/guides/cro

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