The e-commerce industry is seeing a trend: it's getting harder and harder to convert first-time visitors into paying customers. Such a problem is not new and it’s high time you should have an effective solution to induce online sales.
When talking about conversion optimization, the key priority is to discover any factors influencing the difficulty for users to complete the conversion process.
Authentication can help you convert sales if done right. Authentication tools provide the overall protection and security of users' assets and personal information. The investment in such tools can help improve business security and greatly reduce fraud. It also improves the efficiency and effectiveness of the business and reduces labor costs.
To move ahead of cut-throat competition, below are a few authentication tools that will help you in offering a more secure login experience for your customers.
4 Authentication Tools that Every Retailer Should Know About
#1. Multi-factor authentication
Multi-factor authentication or MFA is one of the most preferred authentication methods to increase the security of your web applications. Most customers are aware of that.
However, experts believe that the MFA tool enables businesses to win more customers. Imagine yourself as one of the decision-makers in a Fortune 500 firm. As your organization has a huge brand name and reputation, you would have a lot to lose in case of a security breach.
If your organization invests in security measures such as MFA, the customers would feel that that organization has the data-security as a priority. Till a decade back, MFA wasn't as popular as it is now where most leading organizations are implementing MFA as their authentication tool for security purposes.
Without proving that you provide top-notch security, it might be difficult for you to win the trust of your customers. Once you have implemented MFA, you can start pitching it to your customers. The higher the coverage of MFA within the organization, the more trustworthy your brand becomes.
#2. Biometrics Authentication
Biometrics use human behavior or characteristics to confirm the user's identity. Performing biometric verification of customers through various channels (in-person or at the store; and remote, such as on a call or using an app) minimize the possibility of identity theft.
Additionally, it reduces the need to create digital contracts and also the waiting time of customers. Moreso, biometrics minimizes the possibility of fraud and also the risk of impersonation for in-person channels. Other advantages include:
- A major minimization of time required to complete a process.
- End-to-end digitization of the consumer interaction process.
- More satisfactory and smooth customer experience.
- Storing highly confidential data and documents securely.
- Stricter and stronger control over access to data and various processes.
- Reduction of manual errors by human beings.
- Improvement in the customer experience at various stages of the sales lifecycle.
As a result of the above advantages, customers are more likely to engage with your brand and be loyal to you. Additionally, with more customers, you are more likely to get more data. Proper analysis of it can lead to a further high conversion rate.
#3. Social Logins
Gradually, social logins are becoming one of the most preferred authentication tools for businesses. It is one of the most popular ways to drive the growth of your business and increase sales. Social logins increase the interaction with the customers.
The option to collect user data using social logins can help businesses eliminate promotions that are not relevant to them. Personalization of content can go a long way in converting sales. Additionally, several users trust the security offered by social login. Thus, the combination of security and personalization can boost the conversion rates considerably.
#4. Passwordless Authentication
Recently, passwords have not been as effective as they were before. They have been considered inefficient in protecting a customer's confidential data. Additionally, they prove to be unintended inhibitors in terms of the user experience. Thus, it is not surprising that several organizations are exploring passwordless authentication tools as a more secure, user-friendly medium.
If your business is in direct contact with the customers, you want their experience to be as smooth and hassle-free as possible. As a leader, you will not want to compromise on the security bit either.
Moving away from traditional authentication tools such as standard authentication would mean adopting other tools that the users can easily use. Passwordless technologies can simplify the authentication process and protect your customers from unwarranted phishing attacks. For instance, email magic links can be used for applications where users don't have to log in regularly. It enables the users to enter the application with a single click.
There is no doubt that using an authentication tool can improve your website's conversion rate. This is because you will protect your customers better while keeping out hackers, fraudsters and other malicious individuals. However, you should take the time to look for the best authentication solutions in the market today. Contact us for more information on how we can help!