While the investments online retailers are spending on online marketing continues to climb, abandonment rates continue to climb as well.
Ultimately, a staggering number of online shoppers will leave without ever purchasing anything. One study found approximately 65 percent of all visitors abandon their shopping carts without completing a purchase. Yikes.
Retailers are taking note of this trend and many are implementing a technologies to help counter this phenomenon.
One way retailers are keeping visitors from abandoning is through a relatively new technology called Exit-Intent. With this technology, visitor abandonment is detected through visitor mouse movements which triggers a last second incentive that is displayed to visitors who were about to permanently leave.
There are a myriad of ways Exit-Intent can be used to turn abandoning visitors into conversions. Last minute discount codes, shopping-cart reminders, free e-books, social-media sharing are all ways to get abandoning visitors to take action -- and keep them from leaving.
Related: Wipe Out Shopping Cart Abandonment
Just look at the company XeroShoes for a success story. After experiencing reoccurring running injuries, Steven Sashen’s friend advised him on the benefits of barefoot running.
Sashen took his friend’s advice to the next level and created his own line of "barefootware." XeroShoes offers footware that emulates being barefoot with its special design.
Realizing that such a concept might be difficult to sell, Sashen implemented that knowledge into his website strategy.
When it was detected that visitors were just about to abandon the Xeroshoes website, a report was offered to them that laid out the benefits of being barefoot.
Providing skeptical visitors with researched findings on the benefits of being barefoot proved to be just what it took to keep visitors engaged and help them move forward with a purchase. Two-and-a-half percent of visitors who had intended to abandon requested the report. And 28.4 percent of those who received the report then went on to purchase barefootware at Xeroshoes.
In the past, when a visitor decided to leave a site there was little that online retailers could do to keep them onboard.
Exit-Intent technology has proven to be highly effective in reducing visitor abandonment. By detecting the moment that visitors are abandoning, online retailers now have the opportunity to make a last moment appeal and pull them back in.
With the amount of money that is being invested in bringing visitors to their sites, smart marketers are realizing that Exit-Intent provides the opportunity to retrieve marketing dollars that would otherwise be lost due to visitor abandonment.
Copyright © 2013 Entrepreneur.com, Inc.