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BizReport : Ecommerce archives : August 02, 2019

Study IDs pain points in sales funnel

The mid-point of sales funnels may be more problematic than many marketers think. That is a key takeaway from a new report which indicates that the top of the marketing funnel performs the best and the middle performs the least, on average.

by Kristina Knight

In theory the farther a consumer goes into the funnel, the more invested in the purchase or product they should become. So, having consumers lose interest mid-way through a purchase is especially problematic for many brands.

"Marketers have long known that the middle section of the funnel presents the most challenges. What they didn't always know was how to reduce that friction and convert more leads. The GetResponse/Demand Metric study proves the power of automation in digital marketing and its ability to drive at least a 3X improvement in the murky middle of the funnel," said John Follett, co-founder, Demand Metric.

Researchers with GetResponse and Demand Metric collaborated on the 2019 Funnel Friction Benchmark Study, analyzing nearly 300 survey respondents to come to their conclusions. According to the report less than one-third (30%) of marketers have a good understanding of their marketing funnel ROI and fewer than 20% have automated at least part of their marketing funnel, despite evidence that automating marketing tactics boosts funnel performance nearly 2x higher than non-automated funnels.

"Today's marketers are smart, digitally savvy and have an unlimited number of ideas and tools to execute campaigns. Yet they often struggle with moving opportunities through the funnel. By taking a closer look at the issues causing the most friction in the funnel, and enabling marketers to significantly reduce them, companies can realize stronger ROI and customer retention," said Courtenay Worcester, director of marketing, GetResponse.

More data from the Funnel Friction study can be accessed here.

Tags: ecommerce, ecommerce tips, ecommerce trends, Funnel Friction, GetResponse, sales funnel

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