The holiday season is upon us. If you are a typical retailer, you’re about to see a spike in business. This is a very good thing, as long as you’re prepared for it! At Pro, we talk to merchants of all sizes and we’ve heard a few common themes related to the upcoming holiday season:
Many merchants don’t understand the full cost of turning away good customers due to false fraud indicators. It’s helpful to do a quick “back of the envelope” estimate to see what a small investment in eCommerce fraud prevention might save your company. To help online retailers quickly estimate these costs, Whitepages Pro has built a fraud calculator that gives a quick and easy estimate based on industry standard data.
This analysis lets you quickly gauge how much you should invest in your eCommerce systems to ensure you’re not turning away good customers or allowing fraudsters to steal your products. Let’s do some math!
If you have 100,000 orders a month with an average ticket price of $45 you could be rejecting as much as $145,000 per month in good orders!
What can you do about the customers that weren’t fraudsters but had their orders delayed or rejected? Well, they might not return after having a bad experience. Being able to approve those flagged transactions faster with confidence will save you time and money. The right identity data can keep you from insulting your customers.
With Whitepages Pro Identity Check, you can reduce the number of orders flagged for manual review from 27% to 14% and get a positive impact during your manual review process by clearing up to 15% more orders faster. We can help this holiday season, so stop speculating and start knowing. Try the fraud calculator and find out what returns you could get on an investment in identity data.