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Grow Sales (Even If You’re Not a Latte-Sipping, Beret-Wearing “Marketing Guru”)

posted on: Tue Aug 12 2014

Dreams TimeWhy should those latte-sippers in Marketing get all the glory while you slave away on manual reviews? Be like the fraud prevention team at Reeds Jewelers. They got kudos for helping grow sales 24% -- 2,300 additional orders over the course of 14 months. A big reason was fewer manual reviews due to better pre-screening. In fact, manual reviews were reduced by up to 85% -- yet bad debt was down 80%. That combination boosted their online store’s bottom line by 8-9%. Or how about a tip of the hat for FoodServiceWarehouse.com’s fraud fighters? They slashed their order decline rate by 67%, leading to a 50% jump in sales. At the same time, they cut fraudulent transactions by 45% and spent 50% less time per manual. Or you could be like Busted Tees. They added about 30 “high-risk” markets they had previously avoided due to fraud concerns – and revenue jumped 40% to 50% with no increase in fraud. Better yet, they spend half as much time on manual reviews as they used to. And there are more stories. So go ahead. Make heads (and berets) spin in Marketing. Show them how fraud fighters can deliver big sales increases while reducing or eliminating manual reviews!

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