Marketing is about putting your product in front of the right people. Rather than tricking or manipulating potential customers, marketing should highlight the benefits of its product or service for those who will get value from it.
How effective do you think your marketing is at doing that? The data shows that not many digital marketers are are as effective as they could be.
Amongst marketers efforts are heavily concentrated on generating more traffic to their websites. You can draw in anyone and everyone, with some search engine optimisation, but let’s assume you’re bringing in the right people. Once these interested people are there, what experience are you giving them?
According to research by the agency, PRWD, and Brand Republic:
“Only 31% of marketers who spend money on acquiring visitors do any sort of data driven optimisation on their website to affect the conversion rate of that traffic.”
Given that conversion rates are low across the board, 2.3% in retail, 2.2% in travel and hospitality and 1.1% in telecommunications (see image below for the data from Adobe), that means lots of websites are not effective at converting traffic into custom.
Let’s take a look at what else PRWD and Brand Republic discovered about the state of marketing and conversion optimisation, in the infographic below:
Here’s are the facts that stand out;
- Marketers are spending their budget on expensive tactics that are only marginally effective at drawing traffic to their site.
- For 69% of marketers admit they don’t have a data-driven strategy for converting users once they’re on site and 17% say they have no strategy at all for improving their conversions.
- There are confusion about what A/B testing is, for 39% of businesses say they are A/B testing but 49% say they are running tests.
Even visitors who proceed to the checkout, showing a clear intent to buy, suffer high abandonment rates. Our data on global ecommerce checkouts shows shoppers only complete 12.2% of online checkouts that they start.
Optimising the transactional stage of your sales funnel
Let’s talk through the sales funnel; at the top is all the visitors who visit your site. Trickling down shoppers may find something useful or interesting to them, decide to buy it and then go through the process of ordering and paying for it. This last stage is purely transactional, so why do so many shoppers abandon the process?
If you don’t know you need to start tracking user behaviour in your online checkout to find out. Form analytics can reveal broken parts of your form, painful user experiences and the questions that your potential customers don’t want to answer.
Below is an example of the Problem Fields report from Formisimo form analytics. It displays several metrics on user behaviour (number of corrections made to information, time spent, and drop offs in each field) together to highlight the most problematic fields.
To see your own data start tracking your form now.