How a Tadpull connection led to impactful results for Mystery Ranch
Founded in 2000 in Bozeman, Mont., by Dana Gleason and Renee Sippel-Baker, Mystery Ranch is a premier load-carriage-focused backpack manufacturer in the U.S. Built to withstand missions for hunters, special forces, wildland firefighters, hikers, climbers, and everyday users, Mystery Ranch thoughtfully designs and handcrafts their packs to withstand strenuous conditions.
Having a clear vision of their end-user and how they’re using the pack allows Mystery Ranch to innovate constantly and apply those learnings across product lines.
Becoming a target for fraud and its impact
Before partnering with Bolt, Mystery Ranch used two fraud solutions. Fraud hit the company hard because of Mystery Ranch’s premium, specialized products with a cult-level international following. People were placing fraudulent orders, then reselling the products on alternative markets.
Ryan Holm, Director of Marketing at Mystery Ranch, said, “Our accounting team was being hammered with fraudulent charges. We had no defense—no way to track, no way to fight.”
The finance and accounting teams were consumed by fraud, and the customer service team got hit hard, too. Holm said that the internal team spent countless hours manually reviewing the fraudulent charges, taking away resources for other impactful initiatives.
Mystery Ranch was facing a potential financial loss, and the tax on their internal team was undeniable. So Holm’s primary goal in finding a fraud-prevention partner was to “stop the bleeding.”
“Tadpull creates top-tier relationships with top-tier vendors. They create an ecosystem that allows clients to move through the fuzz quickly and efficiently, connecting clients with vendors and solutions."
Bolt + Mystery Ranch: A Tadpull connection
Bolt landed in the lap of Holm at the Tadpull Mountains & Metrics Conference in 2020. He states, “Tadpull creates top-tier relationships with top-tier vendors. They create an ecosystem that allows clients to move through the fuzz quickly and efficiently, connecting clients with vendors and solutions. I didn’t find Bolt. Tadpull found Bolt.”
Tadpull and Mystery Ranch have a long, trusted relationship. Holm knew that if Tadpull recommended a vendor, they did not require further vetting. So Bolt and Mystery Ranch teamed up one lunch and a phone call later.
“A customer’s information is the top priority in the modern age. Bolt keeps Mystery Ranch secure from fraudulent attacks while keeping customer finances safe as well.”
Take a hike, fraud
The Bolt team went to work right away, and fraud charges immediately dropped off.
Since go-live in October 2020, Bolt has approved over 39,000 transactions placed on the Mystery Ranch site while maintaining an average order approval rate of 99.1%. During this time, there were transactions indemnified by Bolt that were later found to be fraudulent orders.
Due to the focus on win-win partnerships with our merchants, Bolt provides a 100% Fraud Chargeback Guarantee for precisely these types of scenarios. Bolt made the merchant whole in the amount of $4,248 for the lost merchandise. Considering the high incidence of fraud within this retail industry segment, the 99.1% order approval rate over the last two and half years has been a true asset for Mystery Ranch.
“A customer’s information is the top priority in the modern age. Bolt keeps Mystery Ranch secure from fraudulent attacks while keeping customer finances safe as well,” said Holm. He gave Bolt a 4.6 out of 5 for decreasing its fraudulent charges by 87% in 2021. “That’s a big win—not just for the fraud but for the workload behind the fraud [and] the frustration behind it,” he added.
Bolt uses a multi-layered approach of machine learning, rules, and manual review from an in-house risk team to ensure Mystery Ranch and its merchants no longer feel the impact of fraud on their business.
An unexpected bonus
Mystery Ranch partnered with Bolt primarily for fraud protection but has found many benefits in one-click checkout. Before Bolt, Mystery Ranch used two different services and experienced issues with both autocomplete features. Bolt’s autocomplete system is more accurate and has decreased mis-shipped items significantly.
Typically, online stores ask new shoppers for the same personal data and payment information over and over again—and if one number or letter is wrong, they have to start all over again. Bolt makes it simple for new shoppers to complete their first purchase with one click. Shoppers with Bolt accounts can breeze through the checkout—even on sites they’ve never shopped before.
Climbing up from here
The partnership with Bolt (thanks to Tadpull) is allowing Holm and the team to focus on future initiatives—like offering international currency at checkout—starting with Canada—and expanding to other countries from there.
As Mystery Ranch ventures out into the advantageous world of cross-border ecommerce, Bolt’s reliable partnership will help them optimize their international checkout experience.