Are you experiencing a persistent low return on investment as a result of a high cart abandonment rate?
Research indicates that customers at Amazon experienced cart abandonment because of unexpected shipping costs or delivery times at the checkout; Walmart’s competitive pricing strategy encourages customers to compare prices before making a purchase; and eBay’s auction-style business model creates uncertainty because buyers may lose out to an auction or discover that the final price exceeds their budget. This may cause buyers to give up on their carts.
Reducing cart abandonment in an online store is a difficulty for many well-known and small e-commerce businesses. Some even went so far as to use algorithms to execute dynamic pricing. Some customers have noticed that the pricing of the products in their carts has changed either during the checkout process or between visits. The process of changing prices in response to variables including demand, geography, and user behavior is known as dynamic pricing. Even though this is a standard practice in e-commerce, some customers have complained that they were caught off guard.
If you’re experiencing a high rate of cart abandonment as an online store vendor, then this is for you. In this article, we will be addressing the issue of cart abandonment by providing valuable insights on how to design compelling exit-intent pop-ups that drive customers to complete purchases in online stores.
What Is Cart Abandonment?
Cart abandonment can be referred to as a situation whereby a potential consumer adds items to their online shopping cart but decides not to complete the purchase, the items are abandoned before the final transaction is completed. This phenomenon, which shows a discrepancy between client interest and conversion, is a crucial indicator for Internet firms.
What are Exit-intent Pop-ups?
When a visitor is ready to leave a page, a kind of website interface known as an exit intent pop-up emerges in an attempt to entice them to stay or take action. Exit intent pop-ups operate by following the user’s mouse movements and identifying when they are approaching the back button or a browser tab. Exit intent pop-ups can be tailored to the needs, preferences, and behavior of the user. They can also include a variety of incentives, such as coupons, free trials, opt-in forms, or social proof. Exit intent pop-ups are an effective technique for improving user experience, expanding email lists, decreasing cart abandonment, and boosting conversions.
How Does Cart Abandonment Pose a Threat on E-commerce Websites?
You must understand the risk that cart abandonment presents to your online business to be able to address it effectively. The following are some significant ways that cart abandonment might harm an online store:
- Low profit margins or revenue loss result from cart abandonment. Potential money is lost when customers add things to their online carts and then depart without making a purchase. The money spent on aggressive marketing campaigns or commercials aimed at expanding the clientele is forfeited.
- Cart abandonment negatively affects an e-commerce website’s conversion rate. The conversion rate, which decreases when customers leave their carts empty, is the proportion of website visitors that complete a transaction.
- Two categories of marketing efforts that increase website visitors are advertising and promotions. Marketing strategies might not yield the intended return on investment (ROI) if a sizable percentage of the traffic abandons their baskets.
- Customers have an overwhelming number of choices in the cutthroat world of online shopping. A website with recurrently high abandoned cart rates may lose ground to rivals who provide a smoother, more comfortable buying experience.
- A high incidence of abandoned carts over time could indicate more serious problems with the website, like imprecise navigation, unplanned fees at checkout, or worrisome security and reliability concerns. If the e-commerce business is to succeed in the long run, these problems must be resolved.
How Can the Issue of Cart abandonment be resolved with Compelling exit-intent pop-ups?
Exit-intent pop-ups can be used to lower cart abandonment by providing rewards, prompts, or other options to users who are about to leave the website without completing their purchase. Pop-ups with an exit intent can boost conversions, make up for lost revenue, and enhance customer loyalty.
A popular e-commerce store that employed exit-intent pop-ups to stop visitors from leaving their carts is Eyelovethesun.com, a web-based seller of eye care supplies. Visitors who are about to leave their cart are given a free ebook in addition to a 10% discount. Based on research, the approach raised the number of conversions by 26.5% and brought in more than $200,000 in sales. To recoup more expenditures, they were also able to acquire email addresses from the visitors. This allowed them to send emails to those who had abandoned their carts. Their pop-up has an attention-grabbing headline, a clear call to action, and is attractive, straightforward, and easy.
10 Unique Strategies To Design Compelling Exit-intent Pop-ups That Prevent Cart Abandonment
- Offer a discount or a coupon code
- Offer free shipping or a free trial
- Offer an alternative or a recommendation
- Offer a bonus or a gift
- Offer a quiz or a survey
- Offer a countdown or a timer
- Offer a testimonial or a review
- Offer a game or a challenge
- Offer a subscription or a membership
- Offer a reminder or a confirmation
Offer free shipping or a free trial
Customers who are about to leave their basket should be offered a free trial or free delivery. This can reduce one of the main reasons for cart abandonment—excessive shipping costs—while simultaneously giving visitors a sense of value and trust. For example, free shipping is offered to Amazon.com customers who spend a certain amount or who are enrolled in a loyalty program.
Offer a discount or a coupon code
You can use incentives, like discounts or coupon codes, to entice clients to buy now by evoking a sense of scarcity and urgency. For example, consumers who are about to leave their cart at Eyelovethesun.com receive a 10% discount in addition to a free ebook.
Offer an alternative or a recommendation
Provide a suggestion or an alternative to customers who are about to give up on their cart. This can raise the average order value and customer happiness while also assisting them in finding a better or more appropriate good or service. A good example is Netflix.com which provides a personalized recommendation based on user preferences along with an alternative for visitors who are about to discontinue their subscription.
Offer a bonus or a gift
Give customers who are about to give up on their cart a bonus or a gift. This can make their purchase more valuable and enjoyable while also making them feel valued and special. For instance, Pura Vida provides complimentary bracelets to those who make $50 or more in online purchases.
Offer a quiz or a survey
When a visitor is about to give up on their cart, offer them a survey or a quiz. This might pique their interest, get their input, and present them with offers or pertinent information based on their responses. For instance, Outgrow provides users who are about to leave their website with a questionnaire in addition to the ideal exit-intent popup for their company.
Offer a countdown or a timer
When customers are about to give up on their cart, offer them a timeframe or a countdown. This can inspire a sense of scarcity and urgency in them, encouraging them to move quickly to take advantage of the opportunity. As an example, Wisepops not only displays a limited-time offer for their goods to users who are ready to leave their website but also counts down to that moment.
Offer a testimonial or a review
When a visitor is about to give up on their cart, offer them a review or a testimonial. This can persuade people to purchase your good or service based on social evidence and boost the credibility and trustworthiness of your offering. For instance, OptiMonk provides a customer testimonial and an example of how their solution increased a customer’s conversion rate to visitors who are about to leave their website.
Offer a game or a challenge
When a guest is about to give up on their cart, give them a challenge or a game. In addition to providing them with entertainment and gamification, this can also provide them with discounts or incentives. For instance, Wheelio provides users with a game and a spinning wheel with a chance to earn a freebie or discount when they are about to exit their website.
Offer a subscription or a membership
When a visitor shows signs of about to abandon their cart, offer them a subscription or membership. In addition to giving them advantages or privileges, this can keep them around and foster loyalty. For instance, when a visitor is about to leave Sephora’s website, the retailer offers them a membership and explains how they may join their beauty club to receive free samples, free shipping, and special deals.
Offer a reminder or a confirmation
When a visitor is about to give up on their cart, provide them a reminder or a confirmation. This can reassure them that they can change their order or save their cart for later, and it can also help them remember what they have put into it. For instance, Booking.com not only displays the number of visitors who are viewing the same hotel but also provides a reminder to users who are ready to leave their website without making a reservation.
On e-commerce websites, exit-intent pop-ups are an effective way to decrease cart abandonment and boost conversions. Incentives, reminders, alternatives, or other benefits might be extended to website visitors who are on the verge of abandoning their purchase. They can also use various forms of design, copy, and content to captivate, influence, amuse, and pleasure the visitors. Best practices for creating exit-intent pop-ups include matching the visitor’s intent, preferences, behavior, and needs; they should also be timely, personalized, relevant, and value-driven. Online businesses can increase their income, improve client retention, expand their email lists, and recoup lost transactions by implementing exit-intent pop-ups.