What bots cause Black Friday losses — Daniel Avital // CHEQ
- Part 1The need for GTM security — Daniel Avital // CHEQ
- Part 2 What bots cause Black Friday losses — Daniel Avital // CHEQ
Show Notes
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02:41The prevalence of false conversions in eCommerceeCommerce retail is one of the most susceptible industries to the fake web because the customer base sits across many verticals. Moreover, data indicates that in the US, one in three shoppers visiting sites online during Black Friday was fake.
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03:43How eCommerce retailers are impacted by false conversions on Black FridayIf fake users are using stolen credit card information to complete purchases, this could result in chargebacks for retailers. Shopping cart stuffing refers to instances where bots are sent to a competing website to deplete the inventory and force shoppers to go to the competing website.
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06:12How shopping bots operateShopping bots are programmed automation tools that can go onto a website and complete the actions to make a purchase. This can lead to actual customers feeling as though they have to compete with bots for high-demand items.
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07:29Ways that eCommerce brands can protect themselves from false conversionseCommerce retailers like Nike have developed policies to combat the issue. However, the best way forward is for eCommerce brands to adopt go-to-market security as it is really a technological issue and not one policy can efficiently address.
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09:46Using data and analytics to combat fraud and false conversionsThe first layer of go-to-market security is visibility, and retailers must be able to identify whats going on with their funnels, traffic, and conversions. Data and analytics enable this visibility and allow companies to make better business decisions and optimize their performance.
Quotes
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"In our global bot report last year, it was reported that an average of 32% of all traffic in eCommerce retail sites is not real or falls under the definition of the fake web." -Daniel Avital, CSO, CHEQ
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"We did a postmortem on Black Friday in the US and found that one in three shoppers online in the US was fake." -Daniel Avital, CSO, CHEQ
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"Chargeback fraud is a massive, multi-billion dollar problem, and one of the main software is eCommerce" -Daniel Avital, CSO, CHEQ
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"As a brand, do you really want your customers to have an experience where they feel that they're competing against bots to buy the items? I think that is a terrible experience." -Daniel Avital, CSO, CHEQ
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"Go-to-market security has two layers to it as a principle. The first layer is visibility, and that's in the data and analytics. The second layer is remediation." -Daniel Avital, CSO, CHEQ
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"Affiliate fraud is a 3.4 billion dollar problem right now." -Daniel Avital, CSO, CHEQ
- Part 1The need for GTM security — Daniel Avital // CHEQ
- Part 2 What bots cause Black Friday losses — Daniel Avital // CHEQ
Up Next:
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Part 1The need for GTM security — Daniel Avital // CHEQ
Daniel Avital, Chief Strategy Officer at CHEQ, talks about go-to-market and why you need to think about security for it. In a world where approximately 40% of all web traffic is fake, your go-to-market funnels are at risk without go-to-market security. From third-party tags on your website that can expose customers to malicious code compliance issues to bots getting into your BI systems, fake traffic is costly and concerning for B2B SaaS companies. Today, Daniel discusses the need for go-to-market security.
Play Podcast -
Part 2What bots cause Black Friday losses — Daniel Avital // CHEQ
Daniel Avital, Chief Strategy Officer at CHEQ, talks about go-to-market and why you need to think about security for it. Black Friday and the holiday season are fast approaching which means eCommerce retailers will be preparing for a high influx of customers, conversions, and overall traffic. However, eCommerce retailers are most susceptible to fraud and abuse from bots, automation tools, etc which poses a huge issue for both retailers and actual customers as well. Today, Daniel discusses why bots cause Black Friday losses.
