Using QR Codes to Accelerate Business Growth

Businesses are leveraging touchless services as a powerful selling point to survive the pandemic. For instance, at the very onset of the COVID outbreak, car retailer Carvana marketed its “touchless delivery and trade-in service.” The result: stocks soared more than 130% in the past year, making Carvana a member of the exclusive “pandemic darlings'' club. Likewise, food delivery companies such as DoorDash and Grubhub registered phenomenal growth in the early days of the pandemic. At a time when many businesses feared total economic collapse, e-commerce giant Amazon declared record profits.

QR codes symbolize this new touchless ethos. Fundamentally, they function as a touch-free medium connecting the real world to the virtual world. Consumers simply scan the ubiquitous black-and-white code on their smartphones to access designated web pages. QR codes have transformed our built environment, coaxing consumers to visit web pages, sign up for services, or register for contact tracing. 

With the pandemic slowly coming to an end in the US, businesses may have to reconsider touchless services as a strong selling point. Regardless, the fate of QR codes, alongside hand sanitizing stations and outdoor seating, looks promising.

High adoption rates and a unique ability to quantify impressions have been instrumental to the success of QR codes. As per estimates, 11 million households scanned a QR code in the US in 2020. China and South Korea are among the countries where QR codes are even more embedded in residents’ daily lives. Unlike traditional billboards or other out-of-home advertising assets that can potentially reach large audiences, QR codes automatically track the number of times they are scanned, allowing advertising executives to measure the efficacy of a specific campaign. High adoption rates and superior metrics are likely to accelerate the popularity of QR codes. 

With the increasing use of QR codes, the use cases are becoming more complex and creative. Nike, for instance, has impressed its ardent fans by setting up a vending machine at its Melrose Avenue store in Los Angeles. The machine dispenses free merchandise for customers who scan their unique member QR code generated through the Nike App. Interestingly, retailers aren’t the only ones innovating. Burger King created an interesting QR code commercial for MTV’s VMAs. 

Though businesses are finding ingenious ways to leverage QR codes, they are facing a significant challenge. While scanning QR codes on mobile phones is easy, filling out online forms on mobile phones to sign up for accounts or complete purchases is a major pain point for consumers. In fact, 84% of consumers prefer laptops or desktop computers to mobile phones for filling out online forms.

Ensuring a hassle-free experience for customers filling out online forms is critical for businesses banking on QR codes to drive sales. QR Pre-fill™ enables businesses to auto-fill a form using data from authoritative sources, making it easy for consumers to fill out forms on their phones and preventing account opening fraud schemes.

QR Pre-fill does not ask consumers to fill out online forms and verify their answers after. Instead, it accelerates the onboarding process by asking customers to confirm their personal data that has been retrieved from authoritative sources. Since this reversal reduces keystrokes by 80%, consumers are less likely to abandon online forms midway due to typing fatigue.

Prove’s QR Pre-fill not only speeds up the onboarding process by reducing the number of keystrokes necessary to fill out a form but also protects companies from account opening fraud. QR Pre-fill harnesses Phone-Centric Identity™ informed by bank-grade data to prevent potential scammers from opening fraudulent accounts. As with all technologies, consumers will soon view QR prefill not just as an added convenience but as a necessity.

This article is a synopsis of a full-length article published by Prove.