Tuesday, August 19, 2014

Survey Reveals Businesses Expect to Spend More on Conversion Rate Optimization Software Next Year

Austin Texas, August 20th, 2014 – TrustRadius, the leading community for professionals to share candid insights about business software through in-depth user reviews, today announced the results of its 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.

TrustRadius 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