There are plenty of reasons why businesses should consider using address verification.
The main reason is that it is a simple and effective way to identify your customers. AVS (address verification services) is an automated process that helps in reducing the risk of fraud, improve the checkout conversion rate, and maintain a clean, fresh, and updated database.
It has been proven that any business that invests in AVS will experience an increase in conversion rates by up to 50%. It also reduces returned orders from customers due to incorrect addresses or missing information. This can save you up to $4 approx for every order.
Here are some of the most compelling ways to use address verification solutions:
Address Verification Service (AVS) is a powerful tool to help businesses prevent fraud and scams by tracking fake addresses before they can do any harm. This need for fraud prevention cuts across every industry—from eCommerce platforms like Amazon to companies like Uber and Airbnb. Companies like these rely on their ability to verify addresses accurately.
AVS typically works by comparing the billing address customers provide on their credit card statement with what's listed on file at the issuing bank. If there are any inconsistencies between them, they will be prompted for further verification before completing the purchase or booking process.
AVS also helps you reach your local customers. Most service businesses, like plumbing and cleaning services, have a specified geographic area that they primarily serve. An electrician doesn't want to travel five hundred miles to fix a wire cut or check the air conditioner. They prefer to stay in the local market where they can easily get repeat business from their customers and quickly turn around on jobs.
AVS helps businesses target customers in the local market by verifying their address information with the USPS database. This will help them avoid wasting time on prospects who do not exist at that particular location or who may live too far away for them to consider viable prospects for their services.
In addition to helping you avoid fines, AVS can also help your business avoid penalties for sending mail to invalid addresses. By regularly using this service, you can keep your database fresh and clean.
This means it will be updated with the most up-to-date information about your customers' addresses. AVS is a powerful tool that helps businesses keep their customer databases accurate and up-to-date. It also helps them avoid fines from the USPS by ensuring they only mail to valid addresses in their marketing efforts.
One of the most compelling reasons to use an address verification service is that it can help boost your checkout-cart conversion rates.
AVS helps reduce cart abandonment and increases checkout conversion rates by ensuring customers provide accurate shipping information upfront. This reduces errors and saves time and money on returns caused by inaccurate shipping addresses.
AVS (address verification services) is a simple and effective way to identify your customers. It helps reduce the risk of fraud, increase the checkout conversion rate, and maintain a clean, fresh, and updated database. By using AVS, you can easily determine whether an address exists before accepting any payments from your customers.