The New Digital Norm
In these changing times, global organizations continue to execute against their strategic goals to increase revenues, lower costs, and grow their business. According to IDC, digital transformation projects are accelerating – global spending on digital transformation technologies and services is forecast to grow 10.4% in 2020 to $1.3 trillion. A vast majority of digital transformation projects are focused on improving the digital customer experience. Why? Because organizations that provide great customer experiences outperform others by 80%, according to HubSpot. Organizations recognize this important and growing trend as more and more digital services are being shifted over to digital channels. Those digital channels are where great customer experiences can make or break a business.
Digital Customer Journey Obstacles
Organizations want to build customer loyalty and profitability through a fully integrated digital customer experience. While many organizations boast about having a “seamless” digital customer journey, many obstacles still remain. Some digital journeys are disjointed, some are semi-automated, and some are a mix of semi-automated with manual steps. This increases friction in the customer experience. As a result, organizations experience operational inefficiencies and frustrated customers.
Organizations with high-friction digital customer journeys tend to have low customer loyalty and even lower revenues because of these business obstacles:
Lower Customer Acquisition
- High account registration abandonment rates
- Complicated registration processes
- Loss of orders from customer frustration
Bad Customer Experience
- High account lockouts
- Lost revenue opportunities
- High-friction process drive customers to competitors
Poor Security and Privacy
- Data breach fines, loss of reputation, customer loyalty, and trust issues
- Outdated security controls
- Manual processes leads to weak compliance controls
While many organizations continue to struggle with friction-laden digital customer journeys, there is a light at the end of the tunnel. That shining light is a modern consumer identity and access management solution. A solution that delivers a fully secure and seamless digital customer experience: the ForgeRock Consumer Identity and Access Management (CIAM) solution.
The ForgeRock Approach: Modernizing the Digital Customer Journey
ForgeRock’s CIAM solution takes a modern approach that allows organizations to acquire customers faster and deliver great customer experiences while protecting their customers. With ForgeRock CIAM, organizations can ensure all customers securely move across all stages in the modern digital customer journey. The following ForgeRock CIAM capabilities are how customers can seamlessly move across the digital customer journey stages:
- Registration: Simplified registration options including: identity, device, and social registrations (examples: LinkedIn, Facebook, Instagram, and Apple).
- Authentication: Single sign-on (SSO), web, and mobile authentication options to quickly acquire customers and keep them coming back.
What Does Customer Success Look Like?
Global organizations that leverage ForgeRock’s CIAM solution realize direct business value on three fronts:
- Acquire Customers Faster: Organizations like BBC accelerate conversion and customer retention rates while improving customer loyalty and trust.
- Deliver Great Experiences: Organizations like GEICO increase omnichannel revenue, lower customer churn and improve long term profitability.
- Protect Your Customers: Organizations like Toyota secure access experiences, mitigate identity-driven fraud and provide privacy and consent compliance to their customers.
A Path Forward: Modern Consumer Identity and Access Management
Global organizations still face many customer journey obstacles. Many digital journeys are still disconnected and full of friction. This leads to operational inefficiencies and a poor customer experience. Organizations can overcome these obstacles by modernizing their digital customer journey with ForgeRock’s modern CIAM solution. CIAM delivers a fully digital, secure, and seamless customer experience – an experience that ensures customers securely and seamlessly move across all stages in the digital customer journey. This helps increase long-term growth, profitability, and customer loyalty.
To learn more about how a modern digital customer journey allows organizations to quickly acquire customers, deliver great customer experiences, and protect your customers, download your copy of the ForgeRock Modernizing Your Digital Customer Journey white paper now.
*** This is a Security Bloggers Network syndicated blog from Forgerock Blog authored by Tim Bedard. Read the original post at: https://www.forgerock.com/blog/modernizing-digital-customer-journey