In this video, Natalie Hahn, VP, Alliances, discusses why a shocking percentage of transactions are abandoned during the onboarding process and how you can avoid being part of the statistics.
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As we're working with our customers on building out their digital experiences, one of the most important elements that we look at is what does the digital onboarding process look like?
So for customers who are creating a subscription environment, who are creating a members only center, or who have products they're trying to sell and they're just trying to collect enough customer information to complete the transaction, digital onboarding is key.
Forty percent of online transactions are actually abandoned by the customer because they run into some sort of glitch in the onboarding process. It's not accepting their ID. It's not accepting a document or something that they have to upload in that process.
Which means forty percent of transactions either aren't happening or going to a competitor, who has a smoother easier to manage onboarding process.
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