The Curse of Abandoned Lead Forms

For years, the success of many marketing campaigns was the number of “leads” the company received. A “lead” is a name that was generated when a consumer filled out a form online to connect with the retailer or use the technology on the website to gain more information.

The importance of online forms cannot be overstated in the eyes of business owners, as they serve as the gateway for businesses to collect valuable customer data and generate opportunities for sales teams to follow up and sell their products or services. However, despite their significance, many businesses fail to realize the potential revenue and sales opportunities that are lost due to this approach. The loss is caused by things like abandoned forms on their websites and poor success in re-engaging a consumer who has left the website or online showroom.

Abandonment occurs when website visitors click the button and are confronted with a form. Some consumers abandon because they were not expecting a form while some start filling out a form but then abandon it without completing the submission process. Some of the reasons are due to user frustration, technical glitches, or a lack of interest in continuing the process for the product or service being offered.

One of the most common reasons for abandoned forms is misleading text on the submission button. Dealership websites often use text like "Check Availability" or "Get E-Price" on their buttons, which can make users feel as though they are going to get an answer once they click the button. When the form is presented, they just leave the website at a high rate. But many leaders do not inspect this “delta” of what is lost, especially if they are receiving a positive number of leads in their mind.

For example, if the company received 100 leads from a certain website tool or form, this could be seen as a positive. But when the data shows another 600-700 consumers clicked and ignored the form, this is the delta of opportunities missed.

“81% of people have abandoned a form after beginning to fill it out. More than 67% of site visitors will abandon your form forever if they encounter any complications”. (The Manifest )

This data can be found in Google Analytics by setting up events to track website activity like button clicks. This data should be reviewed monthly as a sign of engagement. If the engagement with the buttons decreases, it could mean the website page needs attention or pricing or images of the product

Another reason for abandoned forms is they can be too complex or lengthy. Users may lose interest or become overwhelmed if they are required to fill out too many fields or provide too much information. Or providing information that is not readily on hand or understood like the VIN (vehicle identification number) when using a trade tool on a dealer website. If the button said get a trade value but the consumers is asked too many questions about future purchase intentions before receiving the value, they quit.

To reduce abandonment rates, dealers should keep their forms as simple and concise as possible, while still collecting the necessary information. A good rule of thumb is for business owners to test all the forms on their website for the user experience.

Furthermore, businesses should ensure that their forms are optimized for mobile devices. With mobile website traffic now exceeding desktop by 2:1, it is crucial that forms are easy to use on smaller screens and can be completed quickly and easily.

There is a whole industry within industries for helping sales teams increase performance on lead follow up. In the book “Selling Cars in the Digital Age” the data is shown that a solid performing team, the expectations are a final selling percentage of leads to be 10-15%

This means the team engaged 2 out of 3 leads and convinced one of them to schedule an appointment. The initial delta or loss was one out of three opportunities solely due to not being available when the initial click happened. The next missing piece is even when the consumer re-engaged, it was not a convenient time for the consumer. They were back at work, or home or just getting on with their life and they now must rethink what questions they had previously.

It is highly recommended to see what the salespeople are saying or sending out because if the salesperson is not answering specific questions or providing value, another one opportunity will be lost due to the consumer not committing to an appointment.

In the book, the goal was 60% of appointments show up. Again, the delta of lost opportunities grows since 40% did not. When the business leader considers the amount of labor it is employing to chase after these opportunities it can be staggering. Let along the marketing investment to create the initial engagement and traffic to the website.

What if the business was able to communicate with all the consumers who clicked the button to engage with the staff in real time? While every consumer who clicks may not be ready to buy today, since your business is assisting them when the consumer needs it, the data is showing an increase in sales over time.

Conversational commerce, also known as chat commerce, is a growing trend that is changing the way some dealers interact with their customers. It is the use of messaging apps, chatbots, and live chat to engage with customers and facilitate sales. The idea is to make the customer experience more seamless and convenient, barriers to communication.

Customers may have questions or concerns that they would like are not addressed by the form, and they may become frustrated if they are unable to get the help they need in real time. By contrast, conversational commerce allows customers to engage with a business in a more natural and intuitive way. When a customer clicks on a CTA button, they are immediately connected with a chatbot or a live employee who can help them with their questions or concerns. This can be a much more efficient and effective way to keep the customer engaged in the moment and help to move them along the purchase path.

The benefits of conversational commerce are clear, and many dealerships have already started to implement this approach. It has been shown to be superior in several ways, including improved customer engagement, higher sales conversion rates, and increased customer satisfaction.

It is not a simple process or something that can be accomplished with just removing the forms. It must be a new way to engage with customers and be willing to give them the information they desire. It takes planning and a specific team of individuals who are prepared and available for the consumer. I have written previously about this topic here.

Abandoned forms can have a significant impact on a business's revenue and sales opportunities. By paying attention to the text on submission buttons, simplifying forms, utilizing technology, and optimizing for mobile devices, businesses can improve their form performance and increase the chances of generating leads and converting customers.

And if conversational commerce is the next evolution, it would make sense to invest in the process before the competition in your market does and it becomes standard practice.

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Please join me at the upcoming Digital Marketing Strategies Conference in Austin, May 21-23rd. I will be presenting a workshop on this and other metrics that need to be reviewed each month. The full agenda is here and is covering many relevant topics like First party data, marketing automation, artificial intelligence, CDPs and so much more.

Get your tickets here before it sells out.