Retailers shift their ad spending from TV, radio and print ads to digital ads.
43% of web executives surveyed believe conversion of a consumer to a particular action is a web site’s most important function, yet two-thirds had no idea what their conversion rates are, NetIQ reports.
A measure of the immaturity of the web channel comes from a new survey by NetIQ Corp. that reports that 43% of 540 web executives surveyed believe that conversion of a consumer to a particular action, such as completing a sale or signing up for a service is, a web site’s most important function, yet two-thirds had no idea what their conversion rates are. “Although it seems alarming that so many people don’t know what their web site conversion rate is, many businesses are just now transitioning away from simple traffic statistics as measures of success,” says Bryan Eisenberg, principal of web marketing consultants Future Now Inc.
35% of survey participants were marketers, the largest segment, ahead of web developers, IT staffers and executives, says NetIQ, which markets the WebTrends analytics product. “This reflects the current industry trend in which the responsibility for web strategy and effectiveness continues to broaden into the hands of business users,” NetIQ says.
“Companies today are potentially leaving a lot of money on the table by not measuring conversion rates,” says Brent Hieggelke, director of WebTrends marketing at NetIQ. “If you don’t know how well you are doing, how can you improve your results? The survey supports our belief that marketers and others across organizations are being asked to prove the ROI of their online work, showing the increased business focus on value for dollars spent.”