Address verification has become a critical component of online business security. While many companies invest heavily in technology to protect their customers and employees, they often overlook this simple but powerful tool. Address authentication can help you lower the risk of fraud while improving customer experience and increasing conversion rates.
As a business owner, you should know how vital address verification services are to protect the company’s reputation. Business address verification tools can help ensure that any orders placed with your company are legitimate.
Regardless, if you still want to find reasons why retail businesses can’t survive without these services, this article will guide you through it.
1. Authentication Services protect your Business by Improving Security.
Address verification is a service that helps you protect your business by improving security. Recent statistics show that the risk of fraud and identity theft is real—and it’s significantly higher when businesses don’t use tools like address verification.
In 2017, United Parcel Service (UPS) lost more than $200 million due to fraudulent activity related to incorrect delivery addresses listed on consignee documents. This happened because UPS didn’t have an effective method of verifying these addresses before delivery took place.
However, with the help of address verification, businesses can have a better security as every address in their database will be verified before adding.
2. Address Verification improves Customer Experience.
Address scanning and verification improve the customer experience by reducing the number of incorrect addresses. As a result, it also boosts customer satisfaction, loyalty, and retention.
Therefore, customers are more likely to engage with your business if they have a positive experience. The verification process also ensures that you’re able to reach as many customers as possible for them to have a positive experience.
3. Address Authentication increases Conversion Rates.
One of the main benefits of address authentication is that it increases conversion rates. Address verification allows companies to verify the business addresses of their customers and ensure that they are valid before sending them any marketing materials.
This helps reduce the number of abandoned carts and increase conversions overall by removing all doubt from your customers’ minds about whether or not your company is legitimate.
4. Helps Businesses reach more Customers.
Verification tools help businesses reach more customers by targeting those who are most likely to make a purchase. The key is to use an address verification tool that has been proven effective.
Besides, address verification tools can increase sales and improve brand image. It checks addresses against public records to make sure that any order placed using fraudulent information will be flagged as such before they’re even shipped out.
This means that not only are customers safeguarded from losing their money or having their credit card used fraudulently, but they also know that nobody else could access their personal information. It is essential because companies face legal complications even if they accidentally leak customer data publicly.
Final Thoughts
In conclusion, business address verification services are an essential tool for any business. Using this service, you can protect your customers from fraud, increase the conversion rate of the business website and improve the overall customer experience.
Address authentication is essential for many reasons. It helps you to avoid fake orders, fraudulent payments, and identity theft. Taking the time to verify your business address will give you peace of mind when dispatching orders to customer locations.