This new study cited at SeeWhy’s Blog reveals what most sophisticated ecommerce marketers already knew — people who come to your site and get part-way through ordering before they abandon are among your very best future sales prospects.
Key – you must have an automated campaign in place to reach out to them within hours or days (less than a week generally) of the abandon.
How long precisely changes based on the offer. But, recency matters a lot. The exact same abandons will respond far, far better to an offer sent a day after they left your site than the same offer sent a month later. That doesn’t mean you should only send a recent campaign – you can keep on trying to convert the account for weeks and months to come. But, the early bird gets the worm.
So — how does this translate to digital subscriptions and paywall sites? You need to acquire contact info and permission (ie, an email opt-in perhaps) from prospects BEFORE forcing them to say “yes or “no” to a hard paid offer. That way you can market to abandons instead of losing them completely when they bounce off your site.
The get-rich-on-the-Internet crowd typically use what they call a “squeeze page” to garner this contact. Instead of seeing their membership site, the homepage or landing page has nothing but a free offer (often access to a video) that requires email opt-in to get to. The whole thing can get (a) hypey and (b) heavy-handed. And although it works well with specific demographics, it sends other demographics running for the hills. You have to know your audience (or test enough versions to get to know them.)
If your audience wouldn’t react well to a heavy-handed squeeze page, or if your site must by the nature of its business model have a lot of other public content such as headlines, so the real estate can’t be dedicated to “squeezing”, you can still use the squeeze idea. Best way — break up your paywall offer so it’s not a one-page hard offer. Instead, ask for email opt-in on the paywall as “step one” of the process and then on the next page ask them to pick their choice of payment. Want an example? See how we do it at Subscription Site Insider here.