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Why Startups Get Millennials and You Don’t

By Brock Gettemeier on April 24, 2017

You have a new killer website or app where your users can get right down to business after completing a standard sign up form. Sounds great, right? Then why are mobile abandonment rates so high? The number users who view your site on their mobile phones is enormous and growing. If you’re tired of leaving money on the table when frustrated users ditch your lengthy mobile signup flow, it’s time to take action. Cognito can help.

It’s no secret that the attention span of millennials can be a short, and that’s ok. Who wouldn’t get bored with a ten field sign up form that needs to be verified by 12 different forms of government ID and all three of your neighbors? That might be a slight exaggeration, but the point is, the more fields there are to fill out in your signup, the higher your abandonment rate is going to be.

We’re all avid phone users, we love using our mobile devices for so many things because it’s easy. Want to order a pizza? No problem. Need to do some shopping? Two clicks and done. Want to apply for a loan? 12 forms of ID and your right arm please.

What can you do about it?

By making your verification process easy. All you’ll need is your customer’s name and phone number. No wasting time with sending scanned pictures of IDs or making unnecessary visits to the bank just to show you’re really who you say you are. Cognito has developed an automated way to reliably pull back rich, regulated KYC data including name, date of birth, SSN, past addresses, and more with just a customer’s phone number. Our goal is to help you decrease customer abandonment and increase your profits.

Using a powerful ID verification method is a proven measure that leads to a higher conversion rate. Don’t leave money on the table by distracting your valued leads with a lengthy signup flow. In a world where attention comes at a premium, you can’t afford to lose customers simply because the verification process is too long. Cognito is the solution for improving your mobile signup conversion rate.

If you want to dramatically decrease your signup abandonment, see Cognito.

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