Webarrassment: 48% of businesses are embarrassed by their website despite spending an average of $453,126 on marketing technology

Rhea-AI Summary

Storyblok released a survey revealing that businesses lose an average of $72,000 annually due to poor website user experiences. Conducted among 500 e-commerce leaders in the US and Europe, the results indicated that 92% believe their website's inefficiencies are harming sales, with 30% estimating losses over $100,000. Despite these issues, 90% report a good ROI from marketing technology, even though only 6% acknowledge poor returns. Furthermore, businesses waste an average of 4 hours weekly on website maintenance, highlighting an urgent need for improved user experience and technology solutions.

Positive

• High satisfaction rates with marketing technology investment, with 90% reporting good ROI.
• Significant investment in marketing technology, averaging nearly half a million over the past five years.

Negative

• Businesses losing an average of $72,000 per year due to poor website user experience.
• 48% of businesses expressed embarrassment over their website's performance in front of customers.

●  Business leaders estimate that poor website user experience costs $72,000 in lost sales per year 
●  Website error fixing and maintenance wastes an average of 4 hours per week - with 8% of businesses spending more than 10 hours per week 
●  90% say they receive a good ROI on their marketing technology spend, even though data proves this isn't true

LINZ, Austria , Jan. 25, 2023 /PRNewswire/ -- Storyblok, the content management system (CMS) category leader that empowers both developers and content teams to create better content experiences across all digital channels, today announced research which reveals companies are losing a considerable sum of money each year due to poor website experience despite spending a substantial amount on marketing technology.

500 business leaders at mid-sized e-commerce companies in the US and Europe were asked a range of questions about their company's website performance and associated costs. Surprisingly, 48% said their website had recently embarrassed them in front of a key stakeholder or customer, however, 87% said their website met all or most of their expectations.

Nearly every business (92%) thinks their website's poor user experience is costing them sales, with 30% estimating this sum exceeds $100,000 per year. Storyblok's recent survey of 6,000 consumers in the US and Europe echoed these findings, with 60% of consumers stating they abandon an average of 5 purchases a year due to poor user experience on websites.

Despite these findings, spending on marketing technology and satisfaction with the results remains very high - businesses invested, on average, nearly half a million over the past five years, with 14% spending more than one million. Only 6% of businesses think they receive a poor ROI on their marketing technology spend.

Dominik Angerer, CEO and Co-Founder of Storyblok, said: "At first, these results look completely contradictory. On one hand, businesses believe their websites are costly embarrassments, on the other hand, they are seemingly satisfied with their performance. The answer is that expectations are too low.

"Many businesses believe that marketing technology is inherently very expensive and is difficult and time-consuming to get right. This is no longer the case. A modern wave of API-first, best-of-breed technology is currently disrupting the industry, making the martech stack not only more cost-effective, but also more user-friendly for the teams working with it - developers and marketers. Business leaders no longer have to accept 'webarrassment' as the standard."

Storyblok's research also revealed that in addition to lost sales, companies are spending a significant amount of time on maintenance and fixing errors on their websites. Each week, on average, 4 hours is lost to these tasks.

Note

Storyblok conducted the survey of 500 business leaders and executives with OnePoll. The survey ran between November 24th to December 4th, 2022.

Resources

• Learn more about Storyblok: https://www.storyblok.com
• View Storyblok's press kit: https://www.storyblok.com/press
• See case studies: https://www.storyblok.com/case-studies

About Storyblok
Storyblok, the content management system (CMS) category leader, empowers both developers and content teams to create better content experiences across any digital channel.

Storyblok enhances audience experiences with best-in-breed performance, security, optimized omnichannel storytelling, and robust personalization. Enable content teams to create and manage content intuitively and independently with drag and drop visual editing, custom collaboration workflows, and a world-class digital asset manager. Empower developers to build anything, integrate with everything, and publish everywhere with Storyblok's headless CMS architecture.

Leading brands such as Adidas, T-Mobile, Renault, and Oatly use Storyblok to shape their digital storytelling.

See why Storyblok was named the #1 CMS by G2 at www.storyblok.com and follow Storyblok on LinkedIn and Twitter.

Press Contact
Brandon Watts
brandon.watts@storyblok.com

View original content:https://www.prnewswire.com/news-releases/webarrassment-48-of-businesses-are-embarrassed-by-their-website-despite-spending-an-average-of-453-126-on-marketing-technology-301729883.html

SOURCE Storyblok

FAQ

What did Storyblok's recent survey reveal about website user experience?

Storyblok's survey indicated that businesses lose an average of $72,000 annually due to poor website user experience.

How much time do businesses spend on website maintenance according to Storyblok?

The survey found that businesses waste an average of 4 hours a week on website maintenance and fixing errors.

What percentage of businesses believe poor website experience costs them sales?

92% of businesses think that poor website user experience is costing them sales.

How much do businesses on average spend on marketing technology over five years?

Businesses invested nearly half a million dollars on average in marketing technology over the past five years.

What proportion of businesses feel their website meets expectations despite issues?

87% of businesses stated that their website meets all or most of their expectations, despite reported issues.