On August 20th, 2014 we announced the results of our 2014 Conversion Rate Optimization (CRO) survey (*). The results underscore the rapid adoption of Digital Analytics and A/B testing software among business of all sizes.
We also announced the availability of its first Buyer’s Guide to Conversion Rate Optimization Software (which can be downloaded for free here) designed to help digital marketers navigate and support a conversion rate optimization program to increase online revenue without spending more on traffic acquisition.
The 2014 Conversion Rate Optimization Survey asked respondents about their CRO practice maturity, software usage and spend. Key findings include:
A Majority of Companies Have Moved Beyond the Infancy Stage
- 72 percent of companies have some CRO processes in place
- 18 percent consider CRO part of their DNA
Digital Marketers Rely On Multiple Tools for CRO
- 91 percent of respondents use two or more tools for digital analytics
- 43 percent of respondents use two or more tools for A/B testing
- This pattern is consistent across company sizes. Companies with more mature CRO processes tend to use more tools
Most Spend More Than $10,000 On Digital Analytics Software
- 58 percent of companies surveyed spend more than $10,000 on digital analytics tools per year with 27 percent spending between $50,000 and $500,000, and 6 percent over $500,000
- The survey also found that 44 percent of the companies surveyed spend more than $10,000 annually for A/B Testing software with 19 percent spending more than $50,000
Most Plan to Spend More on CRO Software in the Coming Year
- 59 percent plan to spend more on digital analytic tools this coming year; 67% of large enterprises will spend more
- 48 percent plan to spend more on A/B testing tools this coming year; 60% of large enterprises will spend more
Full survey results can be found here:
“Conversion Rate Optimization is becoming more and more important as companies look for ways to improve their website’s effectiveness,” said Vinay Bhagat, CEO of TrustRadius. “Low-cost, easy-to-use tools have propelled a broader spectrum of companies to analyze website traffic and experiment with website changes. It’s therefore no surprise that companies of all sizes are increasingly investing in CRO software and skillsets.”
Introducing Buyers Guide to Conversion Rate Optimization Series
Because conversion rate optimization encompasses many different use cases and products, TrustRadius is releasing three distinct guides.
A Buyer’s Guide to Conversion Rate Optimization software, provides a detailed overview of the process, workflow, and technologies that support a conversion optimization program. The guide also covers what to look for when selecting the right conversion optimization software, including suite versus best-of-breed, and functionality versus usability, based on interviews with leading CRO experts.
The CRO guide was followed by two in-depth buyer’s guides, one on Digital Analytics software and a second on A/B testing tools. Based upon a distillation of 400 ratings and in-depth user reviews of conversion rate optimization software on TrustRadius, these two guides present the leading products by market segment – small businesses, mid-size companies and enterprises. They profile each vendor and discuss pros and cons for each product as well as includes a discussion on key success factors.
The free Buyer’s Guide to Conversion Rate Optimization Software is available here.
(*) 2014 Conversion Rate Optimization survey ran between July 28th and Aug 8th. Over 2,300 TrustRadius members and 1,800 site visitors were asked to participate. Survey responses from consultants were excluded from the final analysis. Key findings are based on 97 responses from end-users of CRO software.