Stop Customer Friction—not Access: Customer Identity and Access Management for Businesses

 Customer experience is where business successes are won or lost. Every interaction—from that very first visit to a website, to a last buy, shapes customer perception and thereby loyalty. Many businesses are unintentionally creating friction because of cumbersome login processes and fragmented identity management systems. Friction results in abandoned carts and increased churn rates, equating to lost revenue. Customer identity and access management deliver a strategic way to ease access and raise customer satisfaction.

The Cost of Customer Friction Is Real

Almost a quarter of the overall friction in the customer journey has an associated financial cost for enterprises. Indeed, a surprising 73.1% of online shopping carts are abandoned in the US alone because of checkout friction. More to the point, issues with logging in or managing accounts have raised the churning rate of customers by 23% (PwC, 2022). Aside from those direct financial losses, these obstacles taint perceptual brand value, meaning that customers will display less loyalty and advocacy.

The Business Benefits of CIAM

Embedding customers at the heart of business through implementing customer identity and access management has the potential to be transformational for customer experiences and business success. Here are some data-driven insights into the positive impact of customer identity and access management:

Efficiency Improvement: According to Microsoft, this can reduce times to log in by up to 50 per cent with a CIAM solution, facilitating user experience and reducing abandonment rates within applications.

Increased Customer Satisfaction: Organizations reported a 20 percent increase in satisfaction among their customers following the implementation of CIAM partly by smoothing out the process for logging customers in effectively (Forrester, 2023).

Heightened Security: This is where customer identity and access management binds strong security features, like multi-factor authentication and single sign-on, in order to protect customer data and build brand trust.

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