Formstack 2014 form conversion report

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An inside look at conversion benchmarks across more than 400,000 online form users.

THE 2014 FORM CONVERSION REPORT

Table of Contents

About This Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Form Conversion Data by Country . . . . . . . . . . . . . . . . . . . . . . 4 Average Fields per Form & Conversion Rate . . . . . . . . . . . . . 5 Chart: Average Fields per Form Chart: Form Conversion Rate (%) Conversion Rates by Industry . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Do “Smart” Forms Impact Conversion? . . . . . . . . . . . . . . . . . . 8 Chart: Use of Form Logic by Industry (%) Peak Form Submission Times . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 When is Your Audience Online? . . . . . . . . . . . . . . . . . . . . . . . . . 10 Optimal Social Media Engagement Times Analytics for Optimized Traffic Email Marketing and New Customer Acquisition Chart: Confirmation Emails Sent by Industry (%) Submit Button Conversion Metrics . . . . . . . . . . . . . . . . . . . . . . 12 Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Account Demographic Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 External Research . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15

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THE 2014 FORM CONVERSION REPORT

About This Report It started with a question. One you might have asked yourself or your colleagues, and one that the Formstack team receives quite often:

“How do I increase my conversion rate?”

Turning to the Internet to help find the answer, we noticed a lack of research on this topic. We also noticed a goldmine of data answering this very question within our own form building app.

Our team dug into over 450,000 accounts to establish benchmarks across industries and form uses. This report analyzed conversion rates from total traffic, including both paid and organic. We also included external research and an internal survey of 250 Formstack customers.

Why do form conversions matter?

A “conversion rate” measures the percent of people who visited a form against the total submission count.

But why is this magic number so powerful? Well, the more people who fill out your form, the more leads your sales team has to nurture. So, your online forms can actually be a major source of revenue for your company. A poorly optimized form results in lost responses and a low ROI on your marketing initiatives.

This report aims to provide a benchmark look at a variety of form marketing metrics, from form length to optimal submission times. We hope that through this data, you can discover new marketing goals and ways to jumpstart your digital conversion rates.

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THE 2014 FORM CONVERSION REPORT

Form Conversion Data by Country

Over 31% of the forms built in the US

Holy form fields, mate! Australians

are contact forms, which may attribute to

average 29 fields per form, the most of any

the country’s low overall conversion rate. On

country. However, 63% of their accounts

average, contact forms convert at only 3%.

leverage form logic, meaning they can hide certain fields on their form.

Forms created in Great Britain average 20

Canada’s second most common form

fields per form, the lowest of the four countries.

button is “Soumettre” - French for “Submit.”

According to Quick Sprout, eliminating just 7

Catering to multiple languages might attribute to

fields on your form can result in a conversion lift

Canada’s 9% conversion rate, the highest of the

of up to 120%.

four countries.

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THE 2014 FORM CONVERSION REPORT

Average Fields per Form & Conversion Rate When reviewing your form’s conversion rates, remember that form types impact conversions. For example, if users click a link to enter a contest, they are probably ready to complete an entry form.

But not everyone who visits your “Contact Us” page will need to submit a form; some might just be looking for your street address.

Average Fields Per Form: the average number of fields (name, email, etc.) that each type of form contains Form Conversion Rate: the percentage of visitors who successfully submit the form

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THE 2014 FORM CONVERSION REPORT

Average Fields per Form & Conversion Rate (Cont.)

Average Fields per Form

25

21

19

20

14

15

10

10

9

4

5

0 Order/Payment

Contact

Survey

Contest

Donation

Event Registration

Form Conversion Rate (%) 28%

30

24

21%

18

11%

12

6%

6

4%

3% 0 Order/Payment

Contact

Survey

Contest

Donation

Event Registration

Capture more responses with these 3 quick tips: Be as concise as possible. Many people are hesitant to share personal or sensitive information. If your form feels too invasive, users may not want to complete it.

Give your form a clear value prop. Include a strong call to action with your form to communicate the benefit of filling it out. Your users will be much more likely to submit their information when they know they are getting something in return.

Try changing form lengths or field content on your form. Test different form lengths, question types, or submit-button copy. See how your customers respond. Every industry (and every form!) is different; explore your options and see what works best.

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THE 2014 FORM CONVERSION REPORT

Conversion Rates by Industry Ever wonder how your conversion rates compare to other sectors? We calculated the percentage of successfully submitted forms for the top industries that use Formstack. We’ve aggregated that data so you can review industry-wide conversion rates.

A 2012 Marketing Sherpa report listed nonprofits as having a 2% website conversion rate. Formstack nonprofits may be leveraging more survey forms, which convert at 21 percent.

Take your conversions past industry standards.

Want to increase response rates, no matter what your industry? Here are some tips to reduce friction in the conversion process: 1. Customize your form to match your brand. Don’t confuse your users with a plain form.

2. Embed your forms on the top half of your website. Expose web traffic to your form without scrolling down the page.

3. Create targeted landing pages to generate qualified leads. Research industry keywords and build content to drive your audience.

4. Include a clear call to action. Avoid indecisive visitors by stating one clear benefit to completing the form.

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THE 2014 FORM CONVERSION REPORT

Do “Smart” Forms Impact Conversion?

Online forms can automatically show or hide questions based on how users respond. Formstack calls this feature “conditional logic.” When it’s in use, visitors only see the questions that are relevant to their previous answers. Dynamic forms translate into higher conversion rates because users aren’t intimidated by a long form with unnecessary questions.

Use of Form Logic by Industry (%)

The Role of Branding in Form Conversion We all know branding is important, but sometimes digital marketers fail to deliver online forms that are consistent with the rest of their messaging. Online forms that are embedded or branded can increase a customer’s trust—and their willingness to click “submit.” When our surveyed Formstack users create a branded experience for their customers, they can achieve stronger conversion rates.

62%

62% said they get more

42% say creating

conversions when they

a custom theme

embed their form on their site.

42%

maximizes their conversion rate.

“Keeping forms as short as possible is a best practice, but sometimes you really need extra data in particular circumstances. That’s where conditional form logic is very handy.”

- Jay Baer, renowned marketer and founder of Convince and Convert

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THE 2014 FORM CONVERSION REPORT

Peak Form Submission Times It’s form o’clock somewhere! (Yes, we went there.) The most active times of day for form submissions are displayed below. Spoiler alert: not many people are filling out surveys at 2 a.m. - sorry, night owls.

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THE 2014 FORM CONVERSION REPORT

When Is Your Audience Online?

It’s good to know the popular submission times for your online forms, but it’s also good to know the participation habits of your audience. We thought these social engagement metrics were pretty interesting:

Optimal Social Media Engagement Times Studies show that Facebook engagement rates are 18% higher on Thursdays and Fridays, with the most sharing happening on Saturday. The highest Twitter engagement is midweek through the weekend. (Source: Buffer)

LinkedIn’s professional users are most active right before and right after work hours. Tuesdays and Thursdays are the biggest days for activity. (Source: Media Bistro)

Does mobile matter in form conversion? The short answer: yes! Each day, the average smartphone user reaches for his or her mobile device around 150 times. (Source: Mary Meeker)

Pay Attention to Analytics for Optimized Traffic All the form conversions in the world won’t matter if you are not connecting with your target audience.

Leverage a tool like Google Analytics to understand where your customers live online. Test and analyze your form metrics, like traffic and referral sources, to create the perfect connection with your audience. You will win every time!

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THE 2014 FORM CONVERSION REPORT

Email Marketing Leads the Pack in New Customer Acquisition Email marketing is still one of the best ways to gain and engage customers. No matter how many billions of emails are sent each day, people are still opening, clicking, and engaging with marketing emails.

To maximize opens, send your promotional emails during the

In a survey of 250 Formstack

workday. On both desktop and mobile, most people are opening emails between 10am and 4pm.

61%

(Source: Harland Clarke)

customers, 61% said email marketing platforms drove the most traffic to their forms.

According to a report from Custora, email marketing is the second best channel, next to organic search, for customer acquisition, with 6.8% customers acquired via email campaigns.

Are You Leveraging Confirmation E-mails?

While confirmation emails are one step after the conversion, they can be an essential step in new customer engagement and retention. Is your industry using confirmation emails to connect post-conversion?

Confirmation Emails Sent by Industry (%) 0%

55% - Sports 44% - Religious 42% - Technology 37% - NonproďŹ t 30% - Government 20% - Higher Education 19% - Small Business 18% - Marketing/Consulting 18% - Media

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15%

30%

45%

60%

THE 2014 FORM CONVERSION REPORT

Submit Button Conversion Metrics Think about the moment when your user is hovering over the submit button. It’s the last opportunity to convince them to click, and it’s important. Don’t believe us? Check out these two lists below: the most popular Formstack submit buttons and the highest converting. As you can see, changing just one word on your website can result in 2.5 times the conversions.

Most Popular

Highest Conversions

5.33%

Submit Form

18.72%

Submit Registration

1.34%

Subscribe

16.66%

Submit Application

7.78%

Submit

15.67%

Register Now!

3.01%

Send

15.47%

Envoyer*

10.66%

Register

12.4%

Submit Request

7.75%

Submit Order

10.66%

Register

*”Envoyer” is French for “Send”

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THE 2014 FORM CONVERSION REPORT

Conclusion We’ve crunched a lot of numbers. We’ve analyzed the data sets. And we’ve discussed the tips and tricks that will make your form shine. It’s a lot to digest. So here’s where we recommend you start: 1. Do you know your own conversion rate? If not, go run the numbers and come back. Don’t worry.

We’ll wait for you.

2. How does your conversion rate stack up within your industry? Maybe you thought a 15% completion rate was absolutely abysmal. But now that you see how it compares to other Higher Ed forms, you recognize you’re crushing it. Give yourself a pat! And then try to boost your overachievement.

3. Glance back through the form characteristics we discussed, such as number of fields, branding, mobile responsiveness, or submit button text.

Which ones can you improve on your own forms?

Dive in and make the changes. Test your forms to see which tweaks improve your conversion rate.

4. Analyze your promotion strategies. Have you done some research to make sure you’re targeting the best audience? How are you capitalizing on social media? Check out that clock graphic on page 9 and adjust your promotion schedule.

We all want to connect with our target audience and capture the highest conversion rates possible.

Leverage the benchmark data in this report to optimize your form for this vital step in your sales process. Now go out there and convert some web traffic!

The Team Behind this Report The 2014 Form Conversions Report was compiled and analyzed by Formstack, a robust online form building solution. With an intuitive drag and drop interface, the platform makes it easy for marketers to create branded, mobile-ready web forms without writing code. With features like social media plugins, custom themes, and analytics, marketers can see an immediate lift in their conversion rates.

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THE 2014 FORM CONVERSION REPORT

Number of Accounts by Industry Total Accounts: 452,763

Higher Ed 3.5%

11.4%

Religious

Sports 4.9%

1.8%

Small Business 15%

Media 5.4%

Nonproft

Government 2%

Technology 7%

Marketing/Consulting 49.1%

Number of Accounts by Form Type Total Accounts: 452,763

Order/Payment 14.3%

Survey 5.6%

Contest 2.1%

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Contact 66.8%

Donation 5.9%

Event Registration 5.3%

THE 2014 FORM CONVERSION REPORT

External Research Form Conversion Data by Country “Eliminating 7 fields on your form can result in a conversion lift of up to 120%.”

Source: Quick Sprout. “How to Optimize Contact Forms for Conversions.” Jan. 31, 2013.

Conversion Rates by Industry “A 2012 Marketing Sherpa report listed nonprofits as having a 2% website conversion rate.”

Source: Marketing Sherpa. “2012 Website Optimization Research Report.” Oct. 2012.

Do “Smart” Forms Impact Conversions?

“Keeping forms as short as possible is a best practice, but sometimes you really need extra data in particular circumstances. That’s where conditional form logic is very handy.”

Quote: Jay Baer, Convince and Convert. “11 Massively Doable Ways to Increase Conversions with Better Forms.” May 23, 2014.

When Is Your Audience Online?

“Studies show that Facebook engagement rates are 18% higher on Thursdays and Fridays, with the most sharing happening on Saturday. The highest Twitter engagement is midweek through the weekend.”

Source: Buffer. “A Scientific Guide to Posting Tweets, Facebook Posts, Emails, and Blog Posts at the Best Time.”

Aug. 29, 2013.

“LinkedIn professional users are most active right before and right after work hours. Tuesdays and Thursdays are the biggest days for activity.”

Source: Media Bistro. “The Best Times To Post On Facebook, Twitter, Google+, LinkedIn And Pinterest.” Sept.

20, 2013.

“Each day, the average smartphone user reaches for his or her mobile device around 150 times.”

Source: Mary Meeker. “Internet Trends D11 Conference.” May 29, 2013.

“On both desktop and mobile, most people are opening emails between 10am and 4pm.”

Source: Harland Clarke; Exact Target Blog. “50 Email Marketing Tips and Stats for 2014.” Aug. 14, 2013.

“Email marketing is the second best channel next to organic search for customer acquisition, with 6.8% customers acquired via email campaigns.”

Source: Custora; Marketingprofs.com. “Email and Search Deliver More Customers Than Social Media.” July 15, 2013.

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