Exit intent technology
Exit intent technology allows you to convert abandoning website visitors into customers. There are various ways to track when a visitor is likely to leave your site. A simple and effective way is to track the mouse and trigger a pop-up (also called an "overlay") when the mouse is moved to the close button of the browser window.
By showing a promotion -- 10% off. Act now! -- at the moment that visitors are about to abandon your site, you break their flow of operation and have an excellent opportunity to steer them to a singular call-to-action.
A short exit survey -- Is there anything preventing you to sign up/make a purchase? -- is a great tool to find out why visitors are leaving and you can use the answers to further optimize your website.
In this article we'll discuss the value of using exit intent pop-ups to improve your conversion rate and more specific the cart abandonment rate.
Ecommerce conversion funnel
The decision to use an exit pop-up to gather information or as an opportunity to convert the person, depends on what your aim is and at which point the visitor abandons the ecommerce conversion funnel.
Visitors landing on your homepage can use site search to search for an item, browse items in specific categories and view products on the product pages. If your visitors navigate through your website for a while and leave without further action, it is a lost opportunity. At this stage of the conversion funnel it can be worthwhile to try to seduce them to sign up for your newsletter. An exit pop-up is a great tool to establish contact.
Improve your cart abandonment rate with exit pop-ups
When visitors got all the way to filling their cart, it feels frustrating if they abandon your website without taking the last step to finalize their purchase. Your existing attempts to encourage conversion failed. But you still have a chance to convert this person, using an exit pop-up.
As an online marketer you know how many of the shopping carts are used in a certain period and you can compare completed sales versus abandoned purchases. The abandonment rate is the ratio of the number of abandoned shopping carts to the number of transactions. A study of the Baymard Institute shows a 68.8% cart abandonment rate as an industry’s average. A typical cart abandonment rates for online retailers varies between 60% and 80%.
Cart abandonment rates differ per product category. More complex products as consumer electronics require more online research and cart abandonment rates are in general higher. According to Statista, the primary reasons for digital buyers to abandon their carts in the United States in 2015 were:
Unexpected shipping cost is a very important reason to abandon the purchase. Another cost driven motive is the lack of finding a coupon code. Further research is sometimes needed to get more product information, but results often show that visitors want to compare prices or find the item priced too high.
In this stage of the funnel you still have the opportunity to try and convince your visitor to make a purchase prior to leaving. The visitor has taken interest and most probably understands the value of the product. He added the item to the shopping cart, but something is holding him back. Psychologically this is the perfect time to offer a discount, especially to first-time customers who are on the fence about making a purchase.
Just think of yourself, leaving a store, undecided whether to buy the thing that you set out to buy. And then the saleswoman runs out and shouts "Hey wait! I'll offer 15% off the price if you buy now!". That's an offer that's hard to refuse.
Gather actionable insights using exit surveys
If you want to understand why visitors leave and how to decrease the abandonment rate, you can use an exit intent survey to ask leaving visitors for their motives.
You get a chance to gather feedback and use this information to understand what you have to improve on your website. By analyzing the answers you quickly gain actionable insights. Based on the feedback you can design an A/B test to develop a new design of the page that will improve your conversion rate.
Informizely offers exit intent overlays for promotions and for surveys in all plans.