Conversion rate is the key number for determining the effectiveness of a website that sells products or offers services. The number of visits means nothing if visitors don’t interact with the website, be it making a purchase or leaving their info and creating leads that can later be used to make sales. That’s why we’ve prepared some essential CRO statistics that can help you understand the importance of CRO, and maybe even give you some ideas on how to improve your marketing strategy.
So, let’s jump in, shall we?
Conversion rates are a highly variable figure, depending on the industry. However, the overall average conversion rate currently sits at 2.35%. This means that roughly out of 40 visitors of a company’s website just 1 performs the action they want them to, whether it’s making a purchase, filling a survey, or something else. On the other hand, the top 10% of organizations have 3-5 times the average conversion rates.
As mentioned, conversion rate averages differ from one sector to another. Here are some of the best-performing ones:
Facebook ads are almost 4 times more successful in converting visitors to customers than regular websites. Once again, depending on the industry, they vary from 2.31% (Technology) to 14.29% (Fitness), but the overall average conversion rate for Facebook ads stands at 9.21%.
Website conversions are a sore spot for 40% of marketers who just can’t seem to achieve optimal rates. Various factors can be the cause of this — from poor design to a bad marketing strategy. What are their more successful peers doing right though?
Plenty of businesses aren’t happy with their conversion performance. Conversion rate optimization statistics show that less than a fourth are satisfied with the conversion rates they are currently achieving.
One of the things businesses with higher conversion rates do is invest in conversion rate optimization. $2,000 is the average amount spent on CRO tools used for analyzing, testing, and tracking various factors involved in conversions.
CRO trends show that investing in CRO tools can be more than worth it. Just 5% of the 3,000 companies involved in a recent survey reported no ROI, while 173 of their peers reported an ROI larger than 1,000%.
Even those organizations that invest in getting new visitors to their website or an online store commonly neglect to invest in converting those new visitors. One of the key CRO facts is that visits do not equal purchases, and converting visitors to customers also requires attention and funds.
Small businesses fail to establish a CRO strategy in 68% of the cases. Documenting a strategy, even in the simplest of terms, can lead to a meaningful sales and reputation boost. A CRO strategy should represent a large portion of any small business’s marketing plan.
Those organizations whose website conversion rates put them at the top of their fields are spending a decent chunk of their budgets on CRO. On the other hand, the majority of companies (or 53%) are dedicating less than 5% of their yearly budgets to CRO. Shockingly, 20% of companies surveyed say that CRO accounts for less than 1% of their marketing budgets.
Despite their importance, as many as 44% of B2B businesses fail to utilize landing pages as a marketing tool. You lose a lead every time a visitor is directed from a call-to-action to the homepage. Check out this article on landing page conversion rates for more information.
The majority of B2B websites contain 6 or fewer landing pages. Although the higher number of landing pages brings more testing and work, it also contributes positively to conversion rates; landing page conversion statistics indicate that companies that increase the number of landing pages from 10 to 55 see a 55% increase in leads.
Creating specific landing pages for different campaigns and purposes leads to a higher conversion rate. Visitors appreciate seeing content that feels relevant to their visit, and that’s why those following conversion rate optimization trends have more landing pages.
Instead of creating new landing pages for their new campaigns, 52% of marketers reuse existing ones. This practice should be avoided, as it can easily increase the bounce rate.
Knowing your market is the main element of any business activity. Implementing elements relevant to your field of business can cause a significant boost to conversions; landing page conversion rate statistics show that companies that deal with online tutoring were able to boost their conversions by 86% by implementing video to their landing pages.
However, this need not apply to all businesses. This is why organizations should regularly test how their landing page affects the conversion rate.
With the number of smartphone users expected to exceed 3.5 billion this year, one would think that optimizing pages for these users is the basis for an improved website conversion rate and a priority for web designers. However, just half of all landing pages are mobile-friendly, which significantly reduces the potential for creating new leads. If you’re wondering how to optimize yours, check out some of the best web development companies to hire in 2020.
The number of those who perform regular tests is even more staggering; 61% of organizations that run tests on the effectiveness of their landing page do so no more than 5 times in a month. High converting websites never stop adding and testing new elements.
Even though the majority of landing pages contain 11 fields that potential leads need to fill out, users respond positively to websites that use fewer, with reducing form fields from 11 to 4 potentially increasing conversions by up to 120%. Conversion rate optimization stats also indicate that not asking for age also boosts the conversion numbers.
This leads us to the key question of what is the optimal number of form fields to have on a landing page? The answer is 3, with this number showing the highest conversion rates.
Navigation menu removal seems to be good for increasing conversions, as this action increases conversions by up to 100%.
Including landing pages and all other opt-in forms present on a website, just under 2% of visitors sign up for email offers and newsletters. HP has miraculously, and with a lot of hard work, managed to improve the number of email opt-ins by 186%, without sacrificing the quality of the leads.
Average email conversion rates can easily be improved with a simple trick — focusing on one thing. Staying focused on a single call-to-action might not only make the difference between making a sale or not but employing this practice can lead to a major boost in clicks (up to 371%) and sales (up to1617%), which can be groundbreaking for any business.
The average mobile conversion rate was 1.53% in the Q2 of 2019. During the same period, tablet users conversions were at 3.36%, while desktop conversions averaged at 4.14%. These percentages are most likely caused by the user-friendliness of respective platforms; interacting with some pages on mobile can be a real pain.
Working as a conversion rate optimizer is still a new job. In case you’re wondering about what a conversion rate optimizer’s work looks like, here are some statistics on those whose task is, among others, to increase conversion rates:
Around 39% of optimizers are freelancers, while 33.9% work in-house for eCommerce sites.
Optimizers have an average salary of $71,340.
20% of optimizers have less than a year of experience.
To get website visitors to make a purchase, the average seller contacts them at least 7 times in 81% of the cases, sales conversion rates show. Still, after generating a lead, 85% of businesses will stop contacting them after just 1 or 2 attempts. The instances of a person visiting a website and buying something instantly are rare, therefore, finding the balance between being persistent and overbearing in your marketing is a must.
Sending a personalized CTA can mean the difference between making a sale and not making one. Sales conversion rate is improved by the same margin even when the CTA doesn’t include specifics such as name; mentioning a referral source showed to be enough.
Avoiding generic emails can be another great move in any email marketing strategy. With personalized emails, sales conversions jump up 10%, while click-through rates go up by an average of 14%.
Referral marketing implementation might be the thing that leads your business to new heights, as this the customer acquisition channel that can deliver a high conversion rate. Consumers love rewards such as coupons and credits, and if they can earn them by referring friends, a lot of them will take the opportunity.
One of the bases of user experience is website load speed which can also impact the average website conversion rate. Slow websites discourage potential clients, and, for just 1 second of delay, can cause:
11% decrease in page views.
16% decrease in user satisfaction.
7% decrease in conversions.
The average lead conversion rate for those companies that implement marketing automation jumps noticeably. Even though it can be quite costly and complex, it is more than worth it, which is why businesses invest in marketing automation software. Check out our marketing automation stats for more info.
Optimization of the website visitor conversion process has become a highly sought-after skill that not many possess. While large corporations have no issue with hiring those experts, small businesses might, so they rely on trial and error. CRO statistics listed in this article just scratch the surface and try to spark an interest in one of the most complex, most interesting, and, potentially, most effective website optimization practices.