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How to help conversion rates: the magic of Exit Intent Technology
Reading Time: 5 minutes
As a business, there’s nothing more frustrating than losing potential customers. Fortunately for us marketers and website owners, technology and marketing has improved greatly since the birth of the Internet.
Knowing Pay Per Click Advertising or Search Engine Optimization is vital to your online presence, but they are not enough in really look over your bottom line – conversions. Did you know that about 90 to 96 percent of site visitors don’t convert when they visit sites? For that reason, it’s important to learn Conversion Rate Optimization (CRO). Implementing this tactic is what will help you stand out from your competition.
There are various tactics and technologies that help you drive up your conversions and sales but of our favorites here at Chatter Buzz Media is using Exit-Intent Technology. If you’re not sure what that means, that’s OK – we’ll briefly go into what Exit Intent Technology does, how you can use it to improve your conversions and sales.
OK, explain Exit-Intent Technology…
Exit-Intent Technology is market-revolutionizing technology stops consumers who want to exit your site before converting. Essentially, you want to tempt your potential customers to take action before they decide to abandon ship.
By implementing Exit-Intent Technology, you can track the behavior of the website visitor and detect visitors who are on their way out. When you use Exit-Intent Technology, your potential customers will be targeted with a visual prompt that targets potential customers to stop them from leaving the site. The display can help you land a new lead or gain a sale, which in turn will increase your revenue.
The Baymard Institute, a web research group, found that the average of abandoned shopping carts online is a whopping 68.53 percent. Think about how much money you are losing each time someone leaves your site without checking out. Here’s a staggering statistic: according to Business Insider Intelligence, about $4 trillion worth of merchandise will be left behind by customers in 2015. Yes, trillion.
Exit Intent Technology is a real game changer. If you’re looking for ways to a) decrease your bounce rate or b) simply raise the conversion rate, then it might be a good idea to implement Exit-Intent Technology on your site.
Let’s take a look at different tools used for this marketing tactic…
1. Bounce Exchange
One of the most common tools used in CRO is Bounce Exchange. I personally love this program – it really helps you catch those customers who are trying to get out of your site. While I recommend it, the price is steep – we’re talking about $2,000/month for just the basic plan. That’s one of its biggest downfalls.
We like using Picreel at Chatter Buzz because it is a functional, affordable replacement for Bounce Exchange. Like I previously mentioned, Bounce Exchange starts at about $2,000/month; however, Picreel is extremely inexpensive. The Pro package will run you $332/month, which is leaps and bounds more reasonably priced than its competitor.
Picreel is a plugin that works both in WordPress and Shopify, making it a flexible device that will help a lot of retailers up their chances of getting their customers to convert. According to their website, Picreel users have seen conversion rates increased by 25 percent.
I personally really like the versatility of the tool. You can offer anything from discounts to coupons. You can customize your pop-up to your business with ease. Picreel offers a 30-day unlimited free trial with no obligation, allowing you to get a feel of the product without having to deplete your pockets.
3. Exit Monitor
Another good and affordable option is Exit Monitor. The technology has recovered over $15 million in revenue, which means that it works to help you gain some serious profits.
While pricier than the Picreel (the Pro plan of Exit Monitor starts at $999/month), it’s still more affordable than Bounce Exchange. The starter plan is just $99/month, which makes it a feasible option for small businesses. While they do offer a trial run, you only get 14 days, as opposed to the 30 days from Picreel.
OptinMonster is another option that you should keep in mind. If you opt to get this on a yearly basis, the Pro package is just $199/year. This makes OptinMonster one of the most economical tools.
Neil Patel, the founder of KISSmetrics and Quicksprout, raves about OptinMonster. He recommends you using OptinMonster in order to grow your email list and your revenue. If you don’t know who Neil Patel is, I suggest you research him. He knows all things digital marketing and can help you go from zero to hero in no time at all.
If your website is hosted through WordPress, you can also use PopupAlly to help you preserve some customers. If your business is just starting and you don’t have substantial funds, this might be the option for you. For just a one-time payment of $97, you get unlimited pop-ups, one year of updates and a full year of tech support. PopupAlly gives you all the financial freedom you need to run as a business, as you won’t have to be dealing with monthly payments.
6. Ninja Popups
If you’re using WordPress, Ninja Popups (found at CodeCanyon) is the most inexpensive Exit-Intent Technology tool on the market. For a one-time fee of $20 a pop-up will appear each time a client attempts to leave your site. The downside? It’s not as flexible. You have to create your own graphics to avoid a hefty monthly fee. It’s great for small businesses who don’t mind doing their own graphics or hiring a designer for a lower-priced solution.
Now that you’ve seen the different Exit-Intent Technology tools that are available for usage, I encourage you to experiment and find out which one is best for you and your business. These will help you hang onto more customers and increase your conversion rate. I encourage you to experiment with the aforementioned programs and see your rates grow. Which one do you think you’ll use for your site?
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