Cybercrimes are threatening both consumers and companies.
According to the June 2017 McAfee Labs Threats Report, there were 244 new cyber threats every minute in Q1 2017 — that’s more than four threats every second. The report also found that total malware samples reached 670 million that same quarter and that the total number of mobile malware samples reached 16.7 million.
These malware infections can impact brands’ bottom lines. A Q3 2017 benchmark report by digital malware solutions provider Namogoo discovered that 15% to 25% of its 500 million user sessions analyzed were infected with digital malware. Within these infected sessions, 40% to 70% of malware ad injections featured ads for competitive products — potentially deterring site traffic, notes the report.
In addition, the study – which was conducted throughout the first half of this year – revealed that 7% to 12% of sessions featured browser bots, which misconstrue web analytics by performing high volumes of automated behaviors. The remaining ad injections, the report notes, consisted of non-competitive banners, pop-ups, and text.
“Online businesses need a better way to compete with marketplace giants like Amazon and Walmart,” Chemi Katz, cofounder and CEO of Namogoo, stated in a press release. “That starts by ensuring their own sites provide an optimal customer experience – one free of distracting pop-ups and competing product ads that lure hard-earned traffic away from their store. Not only are shoppers unaware of why this is happening, but retailers have zero visibility into this disruptive activity. The disconnect manifests in a negative impact on customer experience, unexplained decreases in conversion rates and, ultimately, millions in lost revenue.”
According to the report, the range in figures reflects seasonality – suggesting that more people shop online during key seasons and, as a result, are targeted more heavily by malware creators. For instance, data from previous years shows that infection rates surged from the average 15% to 17% up to 20% to 30% during the back-to-school shopping month of August, notes the report, and all the way up to 25% to 30% during the holiday shopping period of October to December.
This history provides context for Namogoo’s Q3 to Q4 predictions. According to the report, the solutions provider says infection rates could grow between 30% to 50% during these quarters this year.
There are a number of ways consumers can accidentally download malware throughout their shopper journey. Using bad extensions, trying free software bundles, and accessing unsecured WiFi networks are a few methods mentioned in the report.
However, Namogoo makes the case that companies can protect their customer experiences by leveraging security solutions — citing its own customer data as proof. According to the report, e-commerce sites using Namogoo saw a 15% to 20% increase in customer retention rates within the first 30 days and an 85% to 95% increase one year later. In addition, analyzed customers saw a 10% to 25% increase in conversion rates over the short term and a 20% to 30% increase over the long term.
Cart abandonment and bounce rates also decreased, according to the report; although analyzed bounce rates fell more over the short term versus the long term (10% to 17% within the first 30 days versus 5% to 10% one year out).
“Retailers that protect their customers from journey hijacking experience immediate increases in customer retention rates, as well as a decrease in both cart abandonment and bounce rates,” Ohad Greenshpan, cofounder and CTO of Namogoo, stated in a press release. “In addition, those protecting the customer journey experience significantly higher conversion rates – winning back potentially stolen revenue.”