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Using Exit Offers on your Site: How to Reduce Cart Abandonment

Feb 8, 2016 12:12:31 PM  |  BY: Grant Thomas

A common yet misleading way to judge a company or website is by checking their monthly traffic. I admit, I do this on a daily basis while perusing the web. Yes, the amount of traffic your website receives is important but it is by no means an indication of success. 

Despite all of the time, money and effort you spend driving traffic to your site, the majority of traffic leaves without converting into a lead or a sale. The average conversion rate for websites is 2.35%. This means that 98% of the traffic driven to your website does not convert.

Why does conversion rate matter? Websites with higher conversion rates tend to have more engaged visitors, regular visitors, and make more money. In e-commerce, this means your making more sales. In blogging, this means you have more readers and more interaction on your blog. In short, while traffic is important, set your sights on driving more conversions! We can do this through marketing with the intent of driving more conversions...also known as conversion marketing

So what is one conversion marketing tactic that you can implement today that will drive more of your visitors to convert? The answer is exit pop ups and exit offers!

 

What is an Exit Offer and How does it work?

Exit offer technology tracks a visitor’s behavior on your site and based on that behavior, determines the exact moment that a visitor is about to leave your website. The process is done with pixel tracking technology that tracks mouse movements and visitor behavior.

This allows you to present an offer, message, or call-to-action to leaving visitors in order to keep them on your site and drive a specific action. An email sign up, a purchase, a social follow, or a visit to a specific landing page are all actions that you want visitors to take - Exit offers provide a simple and effective way to drive these actions.

Digital marketers can set up simple campaigns that serve up discount offers to leaving shoppers in order to drive sales.  They can also provide a piece of valuable content for leaving readers to snag new email subscribers. These are both great ways to drive email sign ups while also creating value for visitors.

Marketers can also implement complex exit offer strategies which involve visitor behavior, previous actions taken, geo-location, and even traffic source to serve up personalized content. The capabilities are there but for the sake of this article, let’s stick to the basics.

 

Why Do Exit Offers Work? 

 

Providing Value

Presenting an offer or call-to-action that provides value in the eyes of the visitor will drive them to take the desired action. For example, if a shopper is presented with an offer for 20% off of their purchase, this provides immediate value and they are much more likely to go ahead and complete the purchase.

This also doesn’t have to be a discount or piece of content. If you can effectively display value for your mailing list through copy, this will drive email sign ups. When crafting your value proposition, always keep your target consumer in mind. What do they want? How do you provide it? Who has benefited from it? Here’s a great example from Van Winkle's, a blog dedicated to helping you get the best night's sleep.

van_winkles_blog_facebook_pop_up.png

 

Reciprocity

In social psychology, reciprocity means that when someone provides value or does something positive for you, you are much more likely to do something positive in return. In most cases, exit pop-ups offer something of value that can be received by performing a desired action (email sign up).

For digital marketers, reciprocity produces results. Using this principle can help you generate new leads or subscribers, gain new customers, and increase customer loyalty. As shown in the example below, the item of value doesn’t have to be grandiose. It just has to be something that your ideal subscriber or customer would be interested in!

 momentum_mag_gated_content_pop_up.png

 

Ask and you Shall Receive

The great Wayne Gretzky (or was it Michael Scott) once said “You miss 100% of the shots you don’t take.” This quotation is widely used in sports and business which has made it reach cliche status. Well here it is again and this time we’re applying it to driving conversions.

Engaging website visitors and asking them to make a decision will spur positive action and drive them to convert. Online consumers are passive and easily distracted so unless you place a call-to-action right in front of them, they most likely won’t engage. You will drive more engagement and conversions by presenting visitors with a question that they have to answer than not asking them at all.

triad_landscaping_exit_pop_up.png

 

Wrap Up

Conversions don’t come easy these days which means you always have to find ways to improve your processes. Increasing your conversion rate is a constant effort and involves many different factors. Exit offers and pop ups present simple decisions to visitors, making it easy for people to take actions that you want them to take. 

Want more info on exits offers and conversion optimization? Download our free e-book!

conversion rate optimization tips

 

Topics: Conversion Optimization, Promotion Strategy