Maximize revenue by reducing account sharing
A significant challenge that businesses face is account sharing, especially in the competitive landscape of per-user product sales. A considerable number of user accounts are often utilized by more than one person, resulting in revenue loss.
Imagine what would happen if all those freeloaders suddenly created their own accounts. How much revenue would you unlock?
On average, companies miss out on 5-20% of potential revenue due to account sharing.
For many companies, they are still doing nothing. Account sharing prevention is incredibly complex that involves tracking user signals and analyzing them to accurately identify shared accounts.
This can quickly become a full-time job for an entire team. However, there are other ways that companies can prevent and completely eradicate account sharing.
- Implement multi-factor authentication (MFA):
Strengthen your account security by implementing MFA. This adds an extra layer of protection by requiring users to verify their identity through multiple means, such as a one-time code sent to their mobile device. MFA makes it more challenging for unauthorized users to access shared accounts.
- Regularly Update Terms of Service (ToS): Clearly define your policies regarding account sharing in your Terms of Service. Regularly update these terms to ensure that users are aware of the consequences of sharing accounts. Transparency about the potential risks can deter users from engaging in such behavior.
- Educate Users About Security: Educate your user base on the importance of account security. Encourage them to create strong, unique passwords and discourage sharing login credentials. By fostering a culture of security awareness, you can mitigate the likelihood of account sharing.
- Sign up for Rupt Rupt is a trusted third-party account sharing prevention service that tracks, detects, manages, and converts account sharers. By taking all of the heavy lifting off the companies, Rupt allows teams to focus on other business initiatives.
With Rupt, companies have complete control. They can dictate how harshly account sharing is prevented by setting device limits and deciding how to engage account sharers. Rupt can engage sharers through on-brand challenges that require users to verify that they are the account owner or sign up for their own paid account.
Reducing account sharing and maximizing revenue requires a proactive and multifaceted approach. By implementing Rupt, businesses can not only strengthen their security measures but also create an environment that encourages users to invest in individual accounts. As the digital landscape evolves, staying ahead in the battle against account sharing is crucial for sustained growth and profitability.