The Challenge With Increasing Customer Loyalty and Retention
In a world of global competitive markets, thanks to the ease and availability of the internet, customer loyalty and retention are prized commodities that are difficult to obtain and elusive to keep.
But their necessity is reflected in the longevity of successful organizations. One notable shift is in the way to achieve each – while loyalty programs are still popular amongst organizations as a way to encourage retention, they don’t hold the same value for consumers anymore. In addition to discounts and point systems, customers expect data protection and comprehensive privacy.
The stakes are high. A single breach could compromise a brand’s reputation and consumer trust indefinitely, making security potentially the most influential factor in achieving customer loyalty.
While internal security posture is not customer facing, compromised security could become public-facing.
The problem is twofold. From an IT perspective,
It can be challenging to determine precisely which regulations (domestically and globally) pertain to your customer base
It can be tedious to uncover the scope of unstructured data and determine how to put controls around it effectively
Standards are high for ensuring a good user experience for consumers.
From an executive level, it can be:
Challenging to position the business value to leaders not directly involved in IT
Competitive between budget expenditure on loyalty programs
Necessary to involve multiple departments for approval
Want to Increase Customer Loyalty?
Our advisory team can help you to build loyalty by creating a customer experience that blends the physical, emotional, and the value element into one cohesive experience.
In order to drive the loyalty necessary for long term customer retention, you need cross-departmental engagement and starts with the IT team.
IDMWORKS understands that strong information security practices are at the core of today’s business cases.
Our team of experts is adept at articulating those strategies cross-functionally throughout the decision-making groups of your organization to gain sponsorship. We keep our focus at the core of your business concerns, retaining customers that drive business, and we build in operational efficiencies around the security frameworks that keep those goals intact.
IDMWORKS helps you:
Determine and interpret regulations that pertain to your business, uncovering applicable data and ensuring policy enforcement to maintain compliance with CIAM solutions
Implement CIAM solutions like CIAM OKTA to solve security needs and enhance the user experience
Position business value to all applicable executive sponsors and provide market overview for customer identity and access management (CIAM) solutions
Focus only on identifiable vulnerabilities in your environment, capitalizing on existing technologies to limit budget expenditure
Data integrity is the new loyalty program, and compliant security is a new driver of customer retention.