A database of accurate, updated customer information is crucial for businesses of all niches. However, what’s more important than a customer’s personal details is their address. It’s because the address is a piece of necessary information for your company database to send an email or deliver a product shipment to the recipient in their desired location.
Address verification services have been gradually becoming a top priority for businesses. The primary reason is to ensure that shipments reach customers on time. Undelivered or late shipments can be harmful to the company as it leads to customer frustration, decreasing customer loyalty, and so on.
Address Verification Services – What are they?
As an entrepreneur, one would definitely want to ensure that their business mail reaches its destination, i.e., to the customer. This is precisely where address verification comes in handy. Companies providing this service help your company maintain an accurate list of mails. That helps in cutting out the problem of undelivered mails and the unnecessary issues that follow.
The address validator of the service provider company collects customer addresses and checks them. The personnel ensures that the company’s database has updated, accurate addresses. As customer addresses keep having anomalies and changes, hiring an address verification company is a great choice.
The Essential Benefits of Address Verification Solutions
1. More Customer Satisfaction, Fewer Complaints
Customers often enter their addresses with mistakes, but an erroneous shipment delivery will definitely piss them off. In fact, some of the most common eCommerce problems are delayed delivery and undelivered products due to address-related issues.
However, with the assistance of an address verification company, these issues can be mended. Address validation solutions ensure that every address is checked and prevented from having formatting errors or even typos. Rest assured, customer satisfaction increases when shipments reach customers at the right destination.
2. Preventing Delivery Failures
According to some reports, over 19% of failed deliveries result from inaccurate delivery addresses. This not just hampers the customer’s expectations but also proves to be costly for businesses. Every year, around $216,171 gets laid to waste due to delivery failures.
This can be turned around when companies start using a real-time address verification tool. Address verification and validation service providers vastly reduce the failure rates with their top-end tools. They ensure that accurate addresses are collected right from the point of entry.
3. Helps in Detecting Fraudulent Orders
eCommerce companies have no parameters to understand whether an order is fraudulent or legit. The address is the only risk indicator in any digital transaction. Empty houses or barren lands set as parcel delivery points have been the top choices for fraudsters. In the middle of that, over a billion parcels and mails are returned back to the sender. It costs hefty amounts to merchants, sometimes even exceeding $20 billion.
Therefore, it is more than essential for eCommerce companies to ensure that they have an address verification company to assist them in collecting verified data. Besides, address verification is also crucial for the KYC and AML processes.
The Final Conclusion
Today, customers are making online transactions faster than ever before. Address verification services have become more of a necessity for your company than an option. Not only does it help in increasing customer satisfaction and loyalty, but it also helps your business save a lot of money by avoiding returns.