Analytics start-up Formisimo has launched a new platform to tackle the problem of checkout and form abandonment in online shopping.
Nudgr monitors the behaviour of potential customers on a website, identifying visitors who are about to abandon the site by using Machine Learning. It triggers timed 'Nudges', or messages that offer a discount/incentive or show social proof, that rescue abandoning customers and increase conversions.
Current exit-intent tools use simple metrics to understand user behaviour, such as monitoring mouse movements to see if the user is heading to the top of the page. The pop-ups can sometimes "annoy and frustrate users" who were already going to convert into customers, says the start-up's founder and CEO, Al Mackin.
"Nudgr uses a more complex and wide-ranging sources of information, centred around data entry and interactions with a website, to build a more nuanced way to predict if a visitor is about to leave a website," explained Mackin.
Nudgr reacts at the right time, with flexible and testable messages, aiding website visitors who are considering leaving the site, but leaving other potential customers alone.
"Early testing has yielded promising results for the team in terms of the accuracy and reliability of predicting abandoners."
The predictive accuracy of Nudgr in alpha testing was an average of 84 per cent. Nudgr’s predictive abilities improve over time, as it gathers more data, so its ability to increase conversion rates becomes stronger as it gathers more behavioural data.
Nudgr can also be used to change the user experience, for example, removing optional fields in a checkout, highlighting key areas of the checkout, or firing live-chat or support messages.
Integrating analytics tools is critical to marketing teams, and Nudgr can easily integrate with tools like Google Analytics and Mixpanel, pushing data into those platforms so marketing managers can see the success of each Nudge.
“Website abandonment is a complex problem that requires a smart solution. We built Nudgr off the back of the five billion data points that Formisimo has recorded to date. It’s super smart and incredibly flexible."
There are two areas for driving up conversion rates: personalisation and deep data-driven understanding of users.
"The challenge for marketing teams is that the solutions to these can take up significant time to deploy and often require significant upskilling. Nudgr combines both and is deployed in minutes, without needing developers.”
Nudgr sits alongside its analytics platform, Formisimo, and aids the tech company's mission to improve online forms and checkouts.
“What makes Nudgr unique is our approach to making predictions, primarily based on interactions with online checkouts and forms, rather than mouse movements and page views."
To help build the innovative platform, Formisimo recruited Luiz Aguiar, a machine-learning expert who previously worked with Petrobras. His experience with complex, wide datasets was vital to build the underlying intelligence and machine-learning aspects of the product, Mackin concluded.
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