SOLE Fitness Case Study
Revenue Increases by 45%
Overview
A go-to solution
SOLE Fitness is dedicated to producing high-quality, durable exercise equipment that’s accessible to everyone. With a focus on both home and commercial use, SOLE has built a reputation for providing gym-grade performance at prices fit for anyone’s budget. By prioritizing customer feedback and employing a dedicated team of engineers, SOLE continuously strives to improve its products while maintaining a strong commitment to customer satisfaction. The company’s core values of quality, affordability, and innovation have solidified its position as a premier fitness equipment provider.
As the company successfully built a strong brand and loyal customer base, it also became a fraud target. Tron Graham, CFO of SOLE Fitness, shares their story.
See Our Accurate Real-Time Fraud Screening for ecommerce in Action
See Our Accurate Real-Time Fraud Screening for ecommerce in Action
Challenges
When Manual Fraud Prevention Starts Eating Profits & Productivity
Before partnering with Wyllo, SOLE Fitness relied on standard credit card processor controls and another company for fraud mitigation, which was a manual and time-consuming process. “We started with basic fraud prevention measures, like matching addresses and CVVs,” says Tron. “It worked fine when our transaction volume was lower.”
As the company experienced rapid growth, they became a target for more fraud attacks. “Our business is very cyclical,” Tron highlights. “Winter sales are big, but then chargebacks start to trickle in at the beginning of the new year.” And during one particular sales cycle, Tron realized they had outgrown their manual ways.
The aftermath of the holiday season brought an overwhelming wave of chargebacks, with 64% deemed fraudulent — mostly attributed to stolen credit cards and friendly fraud. SOLE’s finance team was forced to spend countless hours reviewing orders and disputing chargebacks, diverting valuable resources away from growth initiatives. The time had come to enlist a more effective solution that would support their growth — not block it — so they turned to Wyllo.
Results
How SOLE Fitness Achieved a 45% Revenue Increase
Because Wyllo integrates seamlessly with Shopify, where SOLE runs their business, implementation was a breeze. “We were up and running in minutes,” Tron recalls. “We were easily able to see all the orders going through the system broken down by status — pass/fail or in review — and this helped us feel confident in the platform.”
SOLE Fitness uses Wyllo’s full-service Chargeback Management and Fraud Protection. The solutions have helped the company reclaim more revenue from shoppers who were already coming to their shop but were being mismanaged by outdated systems and processes. Here’s how they did it.
Before Wyllo, SOLE’s fraud filters were causing inaccurate pass/fail decisions that blocked legitimate orders and passed fraudulent transactions, causing an increase in manual review and, consequently, chargebacks. Wyllo’s AI-powered decision engine transformed SOLE’s fraud prevention.
By analyzing customer inputs, third-party sources containing thousands of data points, and a powerful global merchant network, the Wyllo decision engine generates the most accurate and instant decisions. The legitimate orders that were previously blocked by gateway filters were no longer an issue, resulting in fewer false positives, a 2.61% increase in approvals, and more time for the team to focus on growing their business.
“Wyllo has helped us recover revenue that was previously compromised by fraud and we saw a drastic reduction in chargebacks,” Tron explains. He highlights one of his favorite aspects of the partnership is the relief Wyllo provides in managing chargebacks, along with its 100% financial guarantee to cover fraudulent chargebacks. Tron and his team no longer have to waste time worrying about building cases to fight chargebacks in representment. As he puts it, “Wyllo has relieved our team of a lot of manual hours spent fighting chargebacks and reviewing orders.”
With Wyllo, SOLE’s chargebacks have decreased by 98%. And for the chargebacks they have received, SOLE has seen an 18% increase in their win rate with Wyllo’s team of experts fighting on their behalf.
SOLE Fitness was drowning in chargebacks. NoFraud helped alleviate a lot of pain points that were a time-consuming nightmare, stealing valuable hours from the team. With NoFraud, SOLE was not only able to reduce chargebacks and manual review, but they also reclaimed over 43 hours per quarter. That’s time invested back into growing the business and boosting revenue.
Takeaway
Fraud & Its Related Costs Eat Away at Profitability
Wyllo Puts a Stop to This For Growing Businesses
Fraud isn’t just about lost revenue. It’s the hidden costs in time, resources, and stress. SOLE Fitness knows this firsthand. Basic fraud prevention often masks a deeper issue: operational inefficiency. While appearing to work on the surface, basic solutions typically fall short, leaving businesses vulnerable. More sophisticated fraud prevention solutions optimize fraud operations with precision technology to support profitability. By approving more legitimate orders, reducing chargebacks and related costs, and reducing time spent manually reviewing transactions and fraud-related issues, merchants are able to reclaim more revenue.
