Ready to learn more about Signifyd? Click here and we’ll put you in touch with the Signifyd team.
Video Transcript
0:03 – Happy almost holidays, everyone. You’re obviously here on Yottaa’s site because you care about site speed and performance. And we all know that site speed equals conversions.
0:11 – So while Yottaa’s trying to help you and all of our merchants get as many conversions as possible this holiday season, we also want to tap in the help of our partner network.
0:21 – So our partners are here to give you some of their recipes for success. So I’m Christina Carrdellio at Yottaa, one of our senior partner managers.
0:29 – And to kick off this series with our partners, I want to tap in Libby Poje, our Partner Manager over at Signifyd.
0:37 – So while Yottaa is helping you with the conversions on the front end, Signifyd has some great insights on what happens on the back end and post purchase.
0:46 – So Libby, what is Signifyd hearing leading up to the holiday season that’s really top of mind with merchants?
0:55 – So to your point, you guys help with the conversions and at Signifyd we want to help you keep that revenue.
1:02 – And one thing that we’re seeing is a rise in first party fraud and abuse, also known as consumer abuse.
1:09 – And this is really due to inflation and increasing prices.
1:14 – People are trying to work the system to get the more value out of their money as well.
1:18 – And in fact, Signifyd’s data shows that there’s been a year over year increase, including a 15% rise in June compared to last year in consumer abuse.
1:31 – So for those of us who aren’t familiar and don’t live in this world, what is one type of first party fraud?
1:38 – Yeah. So promotional abuse is really the biggest that we see. And this occurs when dishonest shoppers or bad actors create multiple e-mail accounts or use different IP addresses or VPN’s to appear like they’re not the same shopper so they can take advantage of single use promos.
2:02 – So as you might imagine this this sort of behavior can really quickly erode at revenue.
2:08 – And in fact there are there are a few ways that merchants can mitigate this type of abuse.
2:15 – One is developing custom policies that you can define and manage the abuse.
2:21 – And in fact, Signifyd has a tool called Decision Center, which provides insights on serial abusers with the flexibility of being able to limit those abusers based on your risk threshold and business policies.
2:36 – That’s actually really interesting here.
2:37 – And I know you and I, working and living in this industry would never do that and create a million fake e-mail accounts to redeem promos.
2:45 – But you know, for those of us who are trying to protect businesses in this industry, you know, what are some of the benefits of what Signifyd is providing, especially in this Decision Center?
2:56 – Here are a few benefits.
2:57 – We have a prediction in revenue leakage.
3:00 – So again, keeping the top of the funnel as large as it can through the purchase.
3:07- So capture as many users and purchasers as you can.
3:13 – So reduction in revenue leakage.
3:15 – There’s also a reduction in customer acquisition costs.
3:19 – So you’re spending this money.
3:21 – How do you stretch the most out of that so you can keep those customers as as purchasers?
3:28 – And then also we talked about the promo abuse, but in context to resellers, we can help limit with that as well.
3:36 – So this is somebody going in there and buying in bulk, using this promo and then reselling it on a marketplace like eBay, Walmart, whatever, and getting more money out of their margin because they scammed your system with that promotion.
3:55 – That last one is huge.
3:57 – I cannot tell you how many times myself or friends of mine have tried to buy, let’s say a shoe drop, for instance, and they’re immediately sold out because everybody’s putting them on 3rd party marketplaces.
4:10 – That’s tickets, concert tickets.
4:13 – That gets me every time.
4:16 – So that is what you have from Signifyd this holiday season, everyone.
4:21 – So while Yottaa’s trying to increase all of that conversions on your website and really optimize that website so everybody’s having an amazing experience, Signifyd really wants to be the partner that helps protect that purchase and helps protect you as the merchant.
4:38 – So that’s what you have from us today.
4:41 – We’re Signified and Yottaa, a winning combination to not only get that conversion, but also to keep that revenue from that conversion.
4:49 – So thanks so much everybody for tuning in from Libby and myself.
4:53 – Happy early holidays.
4:55 – Happy holidays everyone.
