As marketers, most of us have heard this sobering statistic before: 70 – 95% of visitors to your site will leave without taking your desired action, and never come back.
Why does this happen? Was it something you said? Is it your design scheme? Do you need to test a different button color? Is it too late to get them back?
Or perhaps this is just a reality of online marketing that cannot be changed. Maybe it’s inevitable that most visitors will hand in their torch early, and leave your site without taking action.
In our award-winning (humble brag) conversion optimization practice here at Crowdvert, we see all types of scenarios play out. We work on sites where small changes make a huge difference to performance. We work on sites where big changes make only a small difference. And we work on sites where the road is more difficult, and conversion lifts require multiple experiments before achieving significant results.
Every site is different, but if there’s one thing know to be true, it’s this: visitors to your site did not arrive by accident. They’re people—not just stats, clicks, and line graphs—and people do things because they’re motivated. They’ve come to your site for a reason.
Simply put, most online marketers are dealing with serious abandonment issues these days. The numbers tell the story. According to Monetate, only 5.31% of international visitors ever made it to the cart in Q3 2013. And if they do make it to cart, there’s more leakage, as the Baymard Institute states that 67.89% of online shopping carts are abandoned.
Source: Marketing Techblog
That’s a big ouch. Picture an offline store where nearly 70% of shoppers abandon their carts in the aisle before reaching checkout. Imagine the cost of labour to continuously clean up the carts and restock the shelves. In this scenario, few (if any) stores could survive, let alone turn a reasonable profit. But wait, this scenario doesn’t apply to the web, does it? After all, there’s no ‘cleanup in aisle 3’ with an online store.
True, but it still comes at a great cost.
Whether you paid through cash up front or via your team’s effort, you sacrificed to get each and every visitor to your site. Pay-per-click. Paid Advertising. SEO. Content development. Retargeting. Email newsletters. Design. Development. It all adds up in a hurry.
The purpose of all this work is to get more leads, more sales, more conversions and more revenue. The old marketing adage that closing a sale takes an average of 7 customer engagements seems to hold true on the web, and that’s a lengthy courtship. The goal of each interaction is to add trust, credibility and value to the relationship, and of course, to reach the next step in the sales funnel.
And after all this effort, having 70% – 95% of visitors abandon your site is more than just wasteful: it’s madness. For site owners, abandonment rates like this are a silent plague, draining profits without showing any discernible symptoms. This makes managing an ROI-positive marketing program very difficult. The question is, how do you turn more of your website visitors into customers?
Here at Crowdvert, we’ve spent much time debating how our clients can reach in and pull users away from the path of abandonment. Though we generate some fantastic conversion lifts for customers, that huge group of users who stubbornly leave without taking our desired action still frustrates us on a daily basis.
Here’s what we do know: conversion rate optimization based on A/B testing is something every marketer should be doing, as to our knowledge, it’s the most bottom line-driven online marketing practice out there.
But for those seeking to boost online conversions (and chances are you fit this category), there are two problems with conducting your own conversion optimization program: it can be tricky, and it’s time-consuming.
Mastering conversion optimization takes a lot of time. It requires a wide range of skill sets—analytics, marketing, user understanding, user experience, design, copywriting, development, project management—and while many people we speak with have gotten excited about A/B testing and optimization, they typically stopped after a couple of tests without significant increases in their conversion rates. The reality is that—with very few exceptions—changing the colour of your CTA button won’t drive the long-term results you’re looking for.
The ‘poverty of time’ has us all stretched, and keeping up with the latest trends can be a job unto itself. For most, the real challenge isn’t coming up with a list of testing ideas, it’s having the time, resources, and methodology in place to drive real results.
So all this led us to a simple question: if a marketing manager could spend only a couple hours trying to reduce their site abandonment rate, where would their best ‘return on effort’ be? How can marketers ‘make nice’ with their abandoning visitors without a huge outlay of time and money? This led us to explore the possibilities of automated optimization targeted at abandoning visitors; a solution specifically tailored to pulling visitors away from the path of abandonment. If we could develop the right tool, we felt there was an opportunity for our clients to reap incredible rewards.
Sales-pitch disclosure here: we’ve spent the last 13 months developing, testing and launching our own exit-intent tool. Forgive us, but we’re really excited about the opportunity to address a problem that gives our clients untold headaches.
The tool is called Rooster, and it’s designed for one purpose: to recover value from users who would otherwise abandon a site without taking your desired action.
Rooster’s visitor tracking algorithm works by tracking unique user activities and mouse moments to predict the exact moment a user is about to exit the site.
When Rooster detects an abandoning visitor, it triggers a light box overlay with a targeted offer aimed at driving your desired behavior (capture an e-mail sign-up, a purchase, or opt-in for a specific offer). By sweetening the pot and providing clear last minute value for users, it converts exiting visitors into leads, sales and sign-ups before they leave your site.
To draw a metaphor, if your pool of abandoning visitors is like a burning warehouse filled with inventory, Rooster is that well-equipped firefighter who charges in to pull your money out of the flames, and put it in your pocket.
It’s pretty cool, and we’ve seen some exciting early results. We’ve had customers increase sales leads from their website by 300%. We’ve had customers convert over 28% of their sign-ups generated through Rooster into paying customers. Most importantly, we’ve learned a great deal more about the behavior of abandoning visitors.
The core takeaway here is this: automating the task of recovering abandoning visitors gives you all the benefits of increased sign-ups, opt-ins and conversions—without taking up your valuable time.
Almost every website has a huge pool of abandoning users, and if you’re a site owner, this represents an opportunity to do incredible things for your bottom line.
So give us 2 hours of your time, and we’ll give you leads, sales and sign-ups from up to 18% of your abandoning visitors.
Crowdvert gives you a team of optimization experts who create A/B experiments to test on your site using our software. All the work is done on a pay for performance basis so there are no fees unless your conversion rate improves.
Find out more at crowdvert.com