Bottlenecks at checkout affecting online sales for retailers adapting to lockdown
By Miles Clee, CEO
I’ve been having lots of interesting conversations recently with retailers who have had to shift their focus from shop sales to online sales. In a bid to protect their businesses from the full impact of lockdown, and the impending economic downturn, maximising online sales has become the number one priority.
My conversations with some of the best known names on the high street are all about the point of purchase. These businesses are pouring money into digital and social marketing, driving traffic to their sites, targeting both past and present customers, but also aiming to acquire new ones. And they are succeeding, achieving great stats for site visitors.
But the process isn’t always running smoothly. There are pressure points in the sales purchase, and one of the main ones is that critical point - where browsers have been seduced by advertising, or social content, come to the site, found what they wanted, put it in their basket, and now, they want to check out.
And here’s the pinch. They’ve forgotten their password. Despite several attempts, they can’t get it right. They don’t want to use a social login, because many people don’t like that route (for a number of reasons - not least because it doesn’t actual authenticate you each time, it just has you logged in already, so not particularly secure) and they sure don’t want to go through the password reset loop.
And new customers are having a similar experience- they are trying to create logins, having trouble creating a memorable password that meets the password criteria. They’re put off by the “you can’t use that one, it doesn’t have the right combination of letters, numbers, caps, symbols” etc.
So what are they doing? They’re bombing out. Walking away. Going to another site, where they can buy the same or similar products. Or giving up altogether, thinking they will probably come back another day, when they have time to sort out their password situation.
For the online retailers, this is a disaster. All the money spent on customer acquisition. ROI is dropping. Missed opportunities. Online sales are critical so this spells an emergency.
The conversations I’m having are around how using PixelPin - a different kind of authentication platform that uses 4 points on a picture in place of passwords - can ease this bottleneck and bring a greater percentage of customers safely and smoothly through the sign-in and check-out process.
The beauty of PixelPin is that it’s easy to remember as it uses a personal image, and it’s always the same one. It’s also highly secure. PixelPin has just graduated from the NCSC Cyber Accelerator program, so our platform has been vetted by experts from GCHQ among others.
So if you’re an online retailer who would benefit from a 15% uplift in login success on your site, I’ll be happy to explain how that can be achieved using PixelPin.