Let us compare online stores to brick-and-mortar stores out there. 30% of the products which are ordered online are returned back in comparison to 8.89 percent in a brick-and-mortar store.
Most of these returned shipments usually occur because of not following effective address verification checks. According to recent studies, it is concluded that the global crisis has impacted how people utilize online shopping platforms and other existing digital tools. The e-commerce industry is the most famous industry with very wide acquisition especially since after the pandemic when people. This leads to the fact that it’s high time for enterprises and evolving online businesses as well as the e-commerce industry to acquire significant checks and solutions for the enhancement of business operations.
An appropriate mechanism to verify the address of individuals must be incorporated for customer due diligence, risk assessments, business operation enhancements, and for the prevention of any possible fraudulent activities. Address verification checks and solutions play a promising role to authenticate mailing addresses against the authoritative database to conclude that the provided address is valid or not.
Address verification systems are progressing very swiftly, providing a wide range of advantages to businesses. Let us have a look at how address verification systems are assisting businesses in the long run.
#1) Decreases Returned Shipments and Mails
Businesses face returned shipments every time they send mail to such addresses which even do not exist, or have not placed an order for than peculiar parcels. This problem is usually encountered when address verification systems are not incorporated. This progressing amount of returned shipments results in the wastage of time as well as money. One or two returned parcels may not cost very much, but hundreds and thousands of such parcels can turn into substantial expenses.
Incorporation of age verification checks and solutions can significantly reduce that evolving returned shipments rate. Once businesses make it mandatory to verify the address of individuals before sending parcels to their respective addresses, there would be no returned shipments left.
#2) Enhances Customer Experience
Providing satisfactory results to customers is the key to the success of every business. Just imagine this. The customer is ordering something and getting the desired product within 2 to 3 days. This will be no less than a moment of joy for that individual. This way they will also recommend those business products to other people with positive reviews which leads to business growth.
Simple typos and negligence can result in product delivery to the wrong address. Businesses will face unhappy and dissatisfied customers as a result. Address verification systems can detect such typos as well as formatting errors before sending parcels, ensuring that the product is delivered to the right customer. Business address verification checks assist in enhancing customer growth in the best possible manner.
#3) Saves Valuable Time
Dealing with such deliveries which are mailed to the wrong address is very time-consuming. Business teams can not focus on other mandatory tasks and projects while dealing with such undelivered mails. Marketing teams are likely to spend more time coming up with new strategies after getting ambiguous analyses of work.
This leads to the fact that it is mandatory for online businesses to acquire such checks and solutions that assist in the prevention of such encountering time-consuming tasks. Address verification solutions enhance businesses’ operations by verifying the address of customers before parcel delivery. Address verification systems prevent the reduction of employee efficiency and hinder business operations.
#4) Enhances Speed of Delivery
It does not have to bother with figuring out where to send the mail when an appropriate address is provided to the delivery service. Most of the time United States Postal service (USPS) may be willing to fix the typos as well as formatting errors instead of returning mail but this can possibly delay the process of delivery.
Address verification solutions assist in standardizing the address to suit what mailing services are utilized to work with. Address verification mechanisms enable risk-free business flow and enhance the speed of business operations.
#5 Assists In Keeping Mail List Up To Date
It is mandatory for businesses to keep their mailing list updated to ensure that the customers are getting only those services that businesses have promised them to provide. This operation must be performed by businesses on a regular basis. Performing this operation manually can lead to inefficient results and this can also be time-consuming.
AI-powered address verification systems assist in ensuring that the mail list is up to date by removing all the wrong mailing addresses for the prevention of wrong mail delivery and for the prevention of reducing the efficiency of business operations. Hence, the Incorporation of business address verification systems and solutions is worthwhile.
#6 Enhances Marketing Efforts
Address list that businesses develop for the purpose of marketing must be impeccable. Businesses get the wrong idea about the accuracy and efficiency of their marketing campaigns if one out of 10 mails is returned due to inappropriate addresses.
Address verification systems ensure that the correct information is provided about the working of marketing campaigns by cleaning the mail list. Address verification systems authenticate business operations which leads to business growth.
Conclusion
Consequently, address verification checks and solutions helps in the enhancement of business operations and provides customer due diligence. Also, address verification solutions with KYC and AML compliance assists in the management of chargebacks and counterfeits.
