Every click counts. But the fewer clicks it takes your customer to complete the transaction, the higher your chances of closing the deal are. It’s that one crucial but easily overlooked aspect that reigns supreme when it comes to revenue growth: user experience.
In fact, did you know that every $1 invested in UX returns $100? That’s an ROI of 9,900% which should provide just enough motivation to rework the customer experience!
But what about the sign-in and sign-up user experience? From our experience, it’s often either disregarded as unimportant — or even worse, security ends up being sacrificed for user experience, bringing about a whole other slew of problems, none of which result in higher revenue.
Picture this — a potential customer opens your mobile app, excited about what you have to offer. They’re just a few hurdles away from becoming a loyal patron when they’re hit by the wall. All too often, the sign-up and sign-in processes are clunky to the point of giving up, and result in lost revenue, before you’ve even had a chance to prove your worth to the customer.
What it comes down to is designing this process in a way that’s seamless yet secure. So, buckle up as we uncover the hidden treasure that lies within masterful user experiences, starting from the very beginning.
How sign-in and sign-up user experience impacts revenue
When you run a business, it’s easy to place your efforts in one basket — and that’s usually your product or service offering. However, the process of purchasing said product or service offering impacts the revenue significantly, too.
Of course, this process starts with the sign-up and sign-in processes. Let me share some eye-opening stats with you, helping illustrate the importance of user experience and customer frustrations with these processes.
To start with, 60% of users feel they are occasionally, frequently, or always slowed down or blocked from accessing services online. When this happens in an onboarding process, 43% of users simply abandon your app or website — a huge portion of users that you could otherwise win over.
Adding to the importance of this early-on user experience is the fact that the first 24 hours after downloading the app tend to be super important. Did you know that an average of only 14% of users come back to an app after the first 24 hours?
Yes! And 60% of users will never use an app if it isn’t used within a week of downloading.
That’s where you have to make sure your onboarding experience is frictionless to ensure they use your app within the first day of downloading it.
With all that in mind, developers usually focus on simplifying the sign-up experience. And that’s perfectly natural, customers obviously value that very much.
As far as mobile authentication itself is concerned, 70% of users prefer an authentication option for its ease of use. You’d be crazy not to try to capitalize on it, right?
Not only would that cater to their preferences, but it’s actually been proven to help increase your conversion rates.
A one-second delay in page load time causes a 7% loss in conversions! When you cross-compare that with the amount of time necessary to type our your username and password, submit a phone number, wait for the SMS code to arrive, and retype it to verify your identity, you start to understand just how much you could be losing out.
Users who find authentication convenient use various digital services 10-20% more than those who are frustrated by it, and it’s actually these customers who spend about 45% more than their counterparts. Cha-ching!
However, all that isn’t to say that you should ever sacrifice security for user experience. Today, you can and you should have both, to truly maximize your revenue.
Maximizing revenue through frictionless authentication solutions
Passwords, SMS OTP two-factor authentication, and even third-party authenticator 2fa aren’t authentication methods that will enable security and a seamless user experience.
Today, 80% of breaches involve passwords — and users are very well aware of this. In fact, 68% believe passwords to be the least secure method of security.
On top of that, although the users are familiar with it, the user experience is not that great. The same can be said for SMS OTP two-factor authentication.
SMS OTPs come with the SS7 technical flaw that can be used to intercept or reroute an SMS message containing your one-time password. Add to that the SIM swapping risks, and you can understand the vulnerabilities that this solution brings.
On the other hand, third-party authenticator app 2fa is much more secure, but seriously lacks in the user experience department. I’m sure you’d agree. Try to log in, get asked for the code, exit the app, open the authenticator, generate the code, copy the code, get back to the original app, and paste the code. It can get so frustrating!
Those were the main things we kept in mind when designing IPification. It’s a mobile IP address-based authentication solution that eliminates the need for passwords and it’s completely phishing-resistant.
IPification works by generating a unique Mobile ID key for each user based on their device, SIM card, and mobile network data. To verify their identity, the user has only to click once and they’re verified within milliseconds — and without actually sending any sensitive info over the network, ensuring maximum data privacy.
It’s the perfect solution for sign-up and sign-in processes — and it can even be implemented as part of a multi-factor authentication system with bank-grade security and a stellar user experience.
It’s just the right solution to meet today’s customers’ expectations and watch your conversion rates soar.
Of course, every mobile app is different so that doesn’t have to mean that IPification is right for your app. But you’ll be happy to know that our team of experts offers free consultations where we can together identify the best route your app can take to ensure security and user experience.
Just contact us to schedule a session. We’re looking forward to getting to know you!
