Boost conversion: Make app onboarding abandonment temporary - Beyond Compliance report
Mobile authentication can be far more than just a way to access services. More specifically, it can be a key differentiator in the way businesses onboard their customers to mobile apps, reducing abandonment and driving revenue. Discover how it’s done in the first section of our report about mobile identity: “Beyond compliance”.
# How do you keep people on board during mobile onboarding?
Persuading potential customers to become customers is hard. Once you’ve managed to convince someone that a particular service is for them, there is one final barrier: the onboarding process. We’ve come a long way, from multi-page paper applications to automated mobile sign-ups. However, many consumers still give up partway through.
# Make abandonment temporary!
The more complicated the onboarding process, the more likely it will be abandoned —a real challenge for financial service providers who have to meet KYC requirements. The move to mobile doesn’t help either, as it’s hard to switch between apps to gather information.
The problem we face here is not so much abandonment but asking people to repeat the whole process. The solution lies in allowing people to abandon the application and continue their onboarding process when they come back later.
# Authentication to the rescue
This is where authentication can help out. If the customer sets up an authentication profile as the first step of onboarding, they can stop the process at any time for any reason. Whether they need to find specific information, move to better lighting conditions for a selfie, or simply are being distracted. When the potential customer is ready to resume the process, they can continue where they left off thanks to the authentication profile.
# There is more: what about “reboarding” when someone uses another device?
You can lose customers when they get a new device. If they have to go through the app onboarding again, it can be seen as a poor user experience which may trigger them to change providers. Around 40% of smartphones are replaced every year, making this a significant challenge.