Your Secret Weapon for Reducing Friction at Checkout
By Sarah Beldo /
18 Aug 2015
“I love filling out forms!” …. said nobody, ever. Especially when shopping for something online. And SUPER-especially when shopping for something on mobile. All that pinching, zooming, and fat-fingering. It’s painful.
That’s why, over the past few years, e-commerce shopping carts have been getting smarter and more streamlined so there are fewer clicks, more auto-filled info, and ubiquitous guest checkout so folks don’t need to create an account just to buy a t-shirt.
These are all smart optimizations for what’s arguably the most important step in any e-commerce business flow. But what if you had a bit of extra intel that helped you make it even easier for your customers – even the new ones – to complete checkout quickly and easily?
Here at Sift Science, we spend a lot of time thinking about how large-scale machine learning can give businesses an edge. While our main focus right now is predicting who the fraudsters are before they take advantage of your site, our customers have found that machine learning is also incredibly accurate at predicting who’s very, very unlikely to be a fraudster. These are your low-risk users, your good customers – the ones you want flying through checkout without a hitch.
So, here’s your secret weapon: machine learning can identify trustworthy customers before they complete a transaction. And once you know who these good customers are, you can usher them into a tailored checkout experience, with fewer form fields and security checks to make it even easier for them to buy. Think about Amazon’s 1-click ordering. It’s seamless. Frictionless. Delightful. Wouldn’t it be great to offer something similar?
For example, do you ask users to enter their credit card CVV code to buy something on your site? It’s a standard security measure, so it may seem crazy not to. But why not remove this extra step if it’s unnecessary for some vetted users? After using Sift Science for a while, one of our customers found that Sift Scores (our way of displaying a shopper’s likelihood of being a fraudster) were so accurate that this customer removed the CVV requirement entirely for low-risk users.
So, is taking away a single form field really a big deal? If you’ve spent any time optimizing and A/B testing checkout, you know that every detail counts. And, anecdotally, I’ll admit to starting a purchase (from the comfort of the sofa) and then thinking, “Hmmm….I remember my expiration date, but not the CVV code…and my wallet is in the kitchen…and do I really feel like getting up now? (*Yawn*) Maybe I’ll just get this later…” And, of course, “later” never comes.
Curious about what else large-scale machine learning can do (and can do for your business)? We’ve got just the free ebook for you. And definitely let us know if you have questions. We’re always happy to chat!