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Why CMOs Should Care About Customer IAM

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Why CMOs Should Care About Customer IAM 1

By Darshana Gunawardana, Associate Director/Architect at WSO2

The surge to move online in 2020, in turn, has driven demand for high-performance, cost-effective customer identity access management solutions. And as we kick off 2021, customer identity and access management (CIAM) have become essential for any business to really understand their customers which is why CMOs should actively engage with and care about their CIAM system.  I say this because within the various stages of a customer’s buying journey, such as awareness, consideration, purchase and service, more often than not a CIAM is running in the background ensuring the right solution enhances their digital experience by providing significantly better onboarding, personalisation, omnichannel experiences, and privacy controls and building that all-important trust with the customer.

So, let’s take a look at how CIAM works and the benefits it provides in the various stages of the customer journey:

The awareness stage is the very first step where a customer interacts with a company’s brand. This is where customers get to know about the product or the service offered by the business, which may lead them to access the company website or content on other platforms such as social media.

At this stage, customer interactions typically occur at an anonymous level. Therefore, the involvement of a CIAM solution will be minimal as no identifying information is available. However, it’s important to make use of products such as web analytics to preserve customer interest, which can be beneficial at a later stage.

At the consideration stage, customers will have more focused needs and they will show more engagement by downloading datasheets, following product demos/trials, etc. Typically, one or two customer attributes are captured in the CIAM at this level. Depending on the prominence of the attributes, this would be the starting point of representing the customer as a light user account in the CIAM system. These accounts do not have any credentials associated with them since customers have not gone through an onboarding process.

At this level, the CIAM’s inbound and outbound provisioning capabilities play a key role. For example, a prospective customer downloads a catalogue from a product website by providing their email; then, the website would create a light account in the CIAM system using a standard provisioning protocol like SCIM. Next, the CIAM solution will (outbound) provision that user account to different marketing tools – for example, Hubspot, and CRM tools like Salesforce, or web analytics such as Mixpanel.

Likewise, the organisation might correlate the light account with web analytics. This helps to obtain more insights about users, such as geolocation and what type of content they looked at during the awareness stage. These details can be used to provide more relevant, personalised information in the future.

The purchase stage is the level that receives the most amount of attention from most organisations. Depending on laws and regulations, it will be crucial to have verified user details. However, it’s important to ensure that the customer registration and onboarding process is simple and user-friendly.

Minimising the mandatory information fields requested from a customer helps significantly. This can be done by auto-filling information that is already associated with the light account. Another way to do this is by using progressive profiling so that the customer has to provide additional details only when they access a specific service that requires these details.

Having to maintain many accounts and credentials is a major pain point from a customer’s perspective. The ability to bring your own ID (BYOID)  to help simplify the registration process is important. This will also help to reduce self-service or call centre interactions in later stages as it will lessen the need of having to recover an account owing to misplaced or forgotten credential details.

Moreover, having direct integrations with identity verification services like Evident ID in the CIAM solution reduces the overhead of providing various documents or having to go through a manual process to verify customer information, such as proof of citizenship, insurance validity, and so on.

The service stage is also a key stage for many consumer businesses. The user experience at this level determines whether existing customers become champions or detractors for the brand.

From a CIAM standpoint, users should have seamless access to any product or service they consume. If there are multiple services involved, basic things like the ability to consume both services with the same account and having single sign-on among multiple applications have become must-have capabilities. Strong authentication with additional factors is also a need when accessing sensitive applications. In addition, adaptive authentication also plays a key role to balance convenience over security. Having mechanisms like account locking, and risk-based authentication gives more assurance to protect customers’ accounts from malicious parties.

This leads to another vital requirement: self-service. Customers should be able to update and review their privacy preferences, such as the use of different emails for different activities, change associated profile information, and update contact information. At the same time, a user should be able to adjust their security profile by configuring recovery mechanisms and register trusted devices for login. With the advancement of privacy regulations across the world, modern businesses must also give users data portability and the ability to deregister.

Additionally, during the service stage, a business might also go through changes, e.g., mergers and acquisitions of other brands, and these activities should not drastically impact the customer experience. The right CIAM solution can facilitate these moves in an incremental manner.

CIAM can even help initiatives such as loyalty programs, which aim to increase customer engagement. Loyal customers might opt for early access to new products and give more accurate feedback, which can be utilised in A/B testing for product or service changes.

As a CIAM solution is well connected with every system involving the customer, it enables organisations to generate enhanced and actionable behavioural data that can be used to predict and determine possible interests. Even during unprecedented times, this information helps to make better-informed decisions.

Enhancing the customer experience is at the heart of digital transformation. Today’s increasingly sophisticated customers view digital interactions as the primary mechanism to interact with products and services and, consequently, expect deeper online relationships delivered simply, securely, and seamlessly. CIAM plays a vital role in connecting applications and APIs to customers and provides all the capabilities needed to deliver a customer experience that is second to none.

Business

UK delays review of business rates tax until autumn

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UK delays review of business rates tax until autumn 2

LONDON (Reuters) – Britain’s finance ministry said it would delay publication of its review of business rates – a tax paid by companies based on the value of the property they occupy – until the autumn when the economic outlook should be clearer.

Many companies are demanding reductions in their business rates to help them compete with online retailers.

“Due to the ongoing and wide-ranging impacts of the pandemic and economic uncertainty, the government said the review’s final report would be released later in the year when there is more clarity on the long-term state of the economy and the public finances,” the ministry said.

Finance minister Rishi Sunak has granted a temporary business rates exemption to companies in the retail, hospitality, and leisure sectors, costing over 10 billion pounds ($14 billion). Sunak is due to announce his next round of support measures for the economy on March 3.

($1 = 0.7152 pounds)

(Writing by William Schomberg, editing by David Milliken)

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Discounter Pepco has all of Europe in its sights

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Discounter Pepco has all of Europe in its sights 3

By James Davey

LONDON (Reuters) – Pepco Group, which owns British discount retailer Poundland, has targeted 400 store openings across Europe in its 2020-21 financial year as it expands its PEPCO brand beyond central and eastern Europe, its boss said on Friday.

The group opened a net 327 new stores in its 2019-20 year, taking the total to 3,021 in 15 countries. The PEPCO brand entered western Europe for the first time with openings in Italy and it plans its first foray into Spain in April or May.

Chief Executive Andy Bond said its five stores in Italy have traded “super well” so far.

“That’s given us a lot of confidence that we can now start building PEPCO into western Europe and that expands our market opportunity from roughly 100 million people (in central and eastern Europe) to roughly 500 million people,” he told Reuters.

To further illustrate the brand’s potential he noted that the group has more than 1,000 PEPCO shops in Poland, which has a significantly smaller population and gross domestic product than Italy or Spain.

The company, which also owns the Dealz brand in Europe but does not trade online, has already opened more than 100 of the targeted 400 new stores this financial year.

Pepco Group is part of South African conglomerate Steinhoff, which is still battling the fallout of a 2017 accounting scandal.

Since 2019 Steinhoff and its creditors have been evaluating a range of strategic options for Pepco Group, including a potential public listing, private equity sale or trade sale.

That process was delayed by the pandemic, but Steinhoff said last month that it had resumed.

“The business will be up for sale at the right time. It’s a case of when, rather than if,” said Bond, a former boss of British supermarket chain Asda.

Pepco Group on Friday reported a 31% drop in full-year core earnings, citing temporary coronavirus-related store closures.

Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) were 229 million euros ($277 million) for the year to Sept. 30, against 331 million euros the previous year.

Sales rose 3% to 3.5 billion euros, reflecting new store openings.

($1 = 0.8279 euros)

(Reporting by James Davey; Editing by David Goodman)

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Fashion-focused livery launch reveals new colours for Gasly, Tsunoda in 2021

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Fashion-focused livery launch reveals new colours for Gasly, Tsunoda in 2021 4

Scuderia AlphaTauri debuted their colours for the 2021 Formula 1 season as drivers Pierre Gasly and Yuki Tsunoda unveiled the team’s new look with the livery for their AT02 racecars. The setting was a fashion-forward launch in the all-new showroom of AlphaTauri, Red Bull’s premium fashion brand.

Salzburg (AUSTRIA) – Formula 1 team Scuderia AlphaTauri served up a stylish preview of the new F1 season with a presentation of its 2021 livery alongside key looks from the upcoming Autumn/Winter 2021 collection of Red Bull’s premium fashion brand, AlphaTauri. The launch – held at AlphaTauri’s new showroom in Salzburg, Austria and presented digitally – marked the first time that drivers Pierre Gasly of France and Yuki Tsunoda of Japan have appeared together as teammates.

After a successful first season racing in AlphaTauri colours, the Italian outfit is looking to challenge the top of the ultra-competitive midfield in 2021, and the two young drivers have been assigned clear-cut roles. Gasly is Team Leader. The 25-year-old, who made his Formula One debut with the team in 2017 under its former name, Scuderia Toro Rosso, has earned two F1 podiums. During the 2020 campaign, Gasly’s maiden win at Monza was a defining moment for him and the team under its new name.

Tsunoda, 20, is the first Japanese driver to race in F1 since 2014, his promotion coming off the back of a fast, four-season trajectory from winning the 2018 F4 Japanese Championship and finishing third in the 2020 FIA F2 Championship to entering the top-level ranks this year. Expectations are high for his rapid style of learning to complement the experience of Gasly.

“The decision to go for Pierre and Yuki in 2021 was taken because Scuderia AlphaTauri’s philosophy is still to give talented young drivers from the Red Bull Junior Program the opportunity to step up to F1 and to educate them – this is why Yuki now gets his chance,” explained Team Principal Franz Tost. “With Pierre on Yuki’s side we have an experienced driver, who can help our Japanese rookie to develop faster, but at the same time we can aim for good results. I think this pair is the best possible scenario to achieve both our targets, and I’m also confident this will be a successful one.”

In 2020, Scuderia AlphaTauri won best livery by a landslide, and the team’s all-new, matte blue and white racecar livery took center stage with the drivers at the fashion event, anticipating the 2021 model that will debut at pre-season testing in Bahrain on 12 March. The test is the precursor to an unprecedented 23-race schedule, and in preparation for the demanding calendar both drivers have spent time at Red Bull’s Athlete Performance Center for intense fitness testing.

“I’m ready to take on the role of team leader. Yuki is a very quick driver, and he will help us move the team forward – we will work together to achieve that,” said Gasly, the team’s all-time top points scorer. “I really believe last year was the team’s best in terms of the way it worked, the development, the performance and the way it managed the race weekends. I’m always hungry for more, and I’m sure we can achieve great things in 2021.”

Tsunoda, who was honored with the Anthoine Hubert Award for best Formula 2 rookie in 2020, added, “I’ve been lucky enough to spend some time with Scuderia AlphaTauri ahead of the season, so I’m already developing strong relationships and learning a lot from them – including Pierre, who is an incredible talent. My main goal is to learn quickly and deliver results as soon as possible, and I’m really excited to get started.”

The launch at the AlphaTauri Showroom not only gave Gasly and Tsunoda a preview of the AlphaTauri Autumn/Winter 2021 fashion collection, but the drivers had the chance to select their new off-grid looks ahead of the season start.

Ahmet Mercan, CEO AlphaTauri, summarized: “This is a triple reveal at a unique point of time: a new AlphaTauri Showroom where fashion meets F1, a first look at the AW21 AlphaTauri collection and the unveiling of the new Scuderia AlphaTauri F1 livery and driver pairing.”

Scuderia AlphaTauri fans don’t have long to wait for racing action: The FIA Formula 1 season kicks off at the Bahrain Test on 12-14 March, in preparation for the Bahrain Grand Prix on 28 March.

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