Peter Dinham
Tuesday, 06 October 2009 05:41
IT Industry -
Market
Page 1 of 2
Companies that invest in web analytics can increase online conversion rates, but only if they can avoid drowning in the vast amount of customer data that many have to deal with, according to a new market study.
The findings of the study by the Aberdeen Group
are backed by UK web analytics and business intelligence provider, Site
Intellligence, which says that companies can potentially increase
online conversion rates from two percent to seven percent. The research
also highlighted the fact that 76 percent of companies improved
year-on-year conversion rates, with on average, conversion and revenue
per visit increasing by three percent each year and customer
profitability increasing by four percent.
The commercial director for Site Intelligence - which recently launched
in Australia - David Pool, says a key challenge for businesses is to
ensure the right information reaches the right segment of business “so
they can put in strong action plans to improve sales and profitability.”
According to Pool, the Aberdeen research revealed that the current
economic downturn has forced companies to place an even larger emphasis
on the ability to attract, retain, and convert online customers.
In fact, Aberdeen says that 79 percent of 203 survey respondents
indicated that the current economic climate plays a prominent role in
their company's decision to attain better consumer insights from the
online channel.
David Pool says that despite the acknowledgment that the online channel
is a cost-effective method of understanding consumer wants and needs,
businesses are challenged to derive actionable information from online
data.
CONTINUED page 2
Latest Headlines from IT INDUSTRY
