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Increase Your Conversions With Exit Popups | ReadWrite

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Armen Baghdasaryan


In the ever-growing era of the internet, people rely on eCommerce to satisfy their wants, on several social media for marketing and being self-employed, being a developer for a top company, and many other things that seemed impossible if you ask someone in the 2000s.

With the introduction of the internet, the whole world is at a fast pace. Fast forward this to the 21st century, right now. People are battling for their spot on the internet right now. The battle is to gain as much audience or followers as possible. Exit popup plays a crucial role in this race.

How to Increase Your Conversions With Exit Popups

But first, we have to know the meaning of the term ‘exit popup,’ and for what purposes it is used.

What is an Exit Popup?

Exit intent popup is basically a technique that retains people from leaving the website. In simple terms, it is a popup that can convince people to sign up, buy a product or even subscribe to a newsletter. You might have seen these popups on several websites, especially eCommerce websites.

The main purpose of these popups is to increase conversion rates. Exit popup basically gives your viewers a second chance to leave your website. This technique is based on the position of the mouse cursor in a computer, whereas there is a time interval between the appearance of the popups. While your viewer might have left, when you use an exit popup, the chances are that the viewer will stay.

It has been recorded that by using exit popups, email sign-ups skyrocketed by 1200% and more! This increase is huge.

Where are Exit Popups Used?

Exit-intent popups are almost everywhere on the internet, from blogs to SaaS businesses. Even retail businesses use it.

Most of these are used by the fashion industry, followed by consumer electronics, travel, food and health, etc. But there is a common thing about all these industries. The common thing is that they are promoting a physical product with which people can interact with. Of course, it doesn’t mean that digital products don’t work. Take an example of a hosting website. They sell digital products, yet they have huge sales.

The thing is, the products that people are selling should be beneficial to the people. That’s why targeted marketing is necessary.

Exit popups have increased the conversion rates of these products. Hence, most websites use these techniques.

Exit popups were specifically made for computer users. But due to the advancements of electronics like smartphones, exit-intent popups are shown in smartphones too. Although the mechanism is different, popups on smartphones basically work on the scrolling patterns and they can also be time-based.

Exit popups can literally be used on every website. It can range from email signups, purchasing a product, subscribing to a newsletter, anything!

Exit popups have become highly famous among eCommerce websites. You could say that these popups were made for eCommerce websites. Although, as I mentioned before, it can be used for any website.

There are even chances that these popups might be used in the social media platform in a few years. Even though the chances are slim currently, it might just be possible for you to show someone who visits your profile a popup.

But in order to reap the benefits, there are certain conditions. Let’s talk about what benefits we could get by using Exit Popups.

The Benefits of Using Exit Intent Popups

There are numerous benefits from the use of these popups. The number one being an increase in conversion rates and a decrease in people bounce rates.

Increased Conversion Rates

This is probably one of the most amazing benefits of using an exit-intent popup. If implemented well, they are recorded to boost conversion sales by up to 53% to 1200%. This is a huge jump.

Conversion rates can vary by how interactive your popup is. It might be humorous, aggressive(like a discount) or something else.

Decrease in Bounce Rates

Bounce rates are basically the percentage of people leaving the website when they are not interested in your product or service.

If you make a well interactive popup, you can decrease bounce rates. There are reports that in some websites, the bounce rates decreased from 70% to 35%.

Customization

The amazing thing is that you can show these exit popups how you want them to be to others. It means that you can customize how a popup will appear on a viewer’s screen. What this does is creates a sense of specialty that it was made just for the viewer.

There are huge chances that a person will do whatever the popup says if it is customized.

Guide to Increase Your Conversions With Exit Popups

Even though there are many benefits from the use of exit popups, the wrong implementation will lead to the failure of this technique. Then what is the correct implementation of exit-intent popups? Let’s answer that.

Implementation of this technique can only be successful by understanding the behavior or psychology of the viewer. By correctly understanding their behavior, we can assume what product or what type of content does the viewer likes.

Implementation of these techniques can be a tough job. But we are here to ease up the toughness of your job.

Design

The design can make or break your journey. It is advised to keep the design of exit popups as user-friendly as possible. Use eye-catching colors, improve the overall quality of your design.

Use good colors with which almost everyone is comfortable. The reason why you should choose good colors is that specific colors show specific signals. For example, red is considered a danger signal in our brain.  So using too much red color could negatively affect your visitors’ experience when browsing your website.

Image

It is not at all necessary to use an image in your popup. But when you use it, make sure it speaks to the viewer, has good colors, and is relevant to the niche of your website, product or service.

Also, make sure that you have a license to use that particular image or you are using Creative Commons images. If not, you might face copyright infringement. Pixabay and Pexels have a wide range of copyright-free images.

Main Title

The title is the first thing your viewers will notice. So, it should be interactive and it should persuade them. Like, offering a limited-time discount, bonus offers to make your viewers feel special. An eye-catching title is necessary.

Description

After the title, people will choose to look at the description of your popup. This part will explain why your viewers should do the action you are stating, and by doing this, what benefit are they getting.

It can also make or break a particular customer’s decision. An eye-catching description is deemed to perform better than the ones having a less structured and informative description.

The CTA

The CTA (call-to-action) tells your particular viewer on what he/she should do to earn the bonus or benefits. It could be a sign-up, discount offer, download link, anything that makes the viewer interact with your exit popup.

The CTA increases gradually when you put relevant CTAs like sign-ups, downloads, etc. One thing you should notice is that these CTAs should consume as much little time as possible of the customers. It should not be able to increase the burden of your viewers.

Privacy

It is also important to address the privacy of the viewers. Make sure that you respect their privacy and mention it. It not only builds trust but also helps in future endeavors.

Link your website or your popup to a privacy policy page. People should feel safer while buying your product, not be in constant fear of being a victim of fraud.

Exit Popups Customization

When it comes to anything online, people differ in their opinions and choices. So you should never treat all of your visitors the same. By this, I mean that you should offer different viewers different choices with which they are able to cooperate.

Conclusion

Exit popups are a great way of generating sales, sign-ups and more. But using it the correct way, as mentioned above, is important to see results. It works especially well on eCommerce websites. Of course, all others can reap the benefits of these exit popups.

Pro tip:- Don’t be discouraged if you don’t see the result from day 1 or day 30. Good things take time.

The thing to note is that you should experiment as much as possible with your popup and stick to the one that gave better results than before. It’s all about understanding customers and experimenting with what they would choose.

Armen Baghdasaryan

Armen Baghdasaryan is an experienced digital marketing specialist who is always keen to keep up with the latest updates in the industry and come up with the best marketing solutions.

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Fintech Kennek raises $12.5M seed round to digitize lending

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Google eyed for $2 billion Anthropic deal after major Amazon play


London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.

According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.

The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:

“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”

The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:

“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”

The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.

The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.

Featured Image Credit: Photo from Kennek.io; Thank you!

Radek Zielinski

Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.

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Fortune 500’s race for generative AI breakthroughs

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Deanna Ritchie


As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.

Goldman Sachs’ Cautious Approach to Implementing Generative AI

In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.

According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.

One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.

To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.

Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.

Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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UK seizes web3 opportunity simplifying crypto regulations

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Deanna Ritchie


As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.

Streamlining Cryptocurrency Regulations for Innovation

To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.

The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.

Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.

The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.

Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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