Why is address verification important for your business

(STL.News) Address verification is essential for businesses to ensure that the address data they collect is standardized, up to date, and accurate.  As a business, your databases need to store the correct address to deliver shipment to your customers in a precise manner.  Delays in shipment due to inaccurate addresses result in customer frustration, missed sales opportunities, higher instances of fraud, unnecessary costs, and lower levels of customer loyalty.

What is address verification?

Businesses want to ensure that their shipments reach the customer in time and without delays.  Address verification helps you as a business owner to maintain accurate mailing lists.  An address validation API can check and correct address information collected from disparate sources such as a website, CMS, customer databases, or call centers.

How does address verification benefit businesses?

Some of the main benefits a business gets by implementing address verification are:

Minimizing the return of shipments

Shipments sent out to an incorrect address are usually returned to you.  Not only will you incur delays, but you will also end up wasting time and money.  Hundreds of returned mails can result in your business incurring a substantial cost, which is avoidable.  Verification of addresses before sending out any mail helps you save money and minimize the return of shipments.

Achieving higher levels of customer satisfaction

Delayed delivery, undelivered shipments, or getting an erroneous delivery are a few common customer complaints received by businesses.  In a lot of cases, even a simple typo in the address results in shipments ending up in wrong mailboxes or ending up as “returned to sender.”  Such mishaps mean unhappy customers and lower levels of customer satisfaction.  By implementing address verification, you can reduce typos or formatting errors in your customer database.  Shipments will be delivered to your customers in time and will improve overall customer satisfaction.

Increasing the conversion rate

A large number of online customers do not complete purchases as they find the checkout process complicated.  Simplifying the checkout page helps convert more prospects into customers.  Address verification allows you to provide your customers with auto-complete forms.  They just need to enter partial addresses, and the remaining information is auto-populated.  As a result, the checkout process becomes simplified for your customers.

Getting access to accurate data analytics

Businesses rely on data analytics to check the effectiveness of their marketing efforts. Location analytics help businesses understand and target customers better.  You can increase sales, control costs, and improve your return on investment.  Implementing address verification in your software systems helps you to get accurate data analytics.

Avoiding lost time and effort

Undelivered shipments result in extra work for your business.  Your team has to deal with returned shipments instead of focusing on other tasks.  They need to find out why the package was not delivered, correct any issues, and re-send the package.  These result in a loss of time and effort for your team.  A valid address database can help prevent such unnecessary and time-consuming activities.

Reducing fraud

Businesses that only interact with legitimate addresses can identify any fraudulent activity at the outset.  Scammers use empty houses as delivery addresses for fraudulent orders.  By using address verification, businesses get alerts about possible instances of fraud and can take steps accordingly.  Address verification is also an integral part of AML and KYC processes for the gaming and financial sectors.  Businesses reduce risk by serving only legitimate customers and preventing instances of fraud.

In summary

The integration of address verification helps businesses focus on their core competencies and achieve higher levels of customer satisfaction.  You save money, time, and effort by ensuring that all your shipments reach the correct address.