Ping Identity has shared the results of a survey that suggests that businesses will keep losing customers if they do not deliver a good online experience. The findings are based on the responses of more than 3,400 consumers in the US, the UK, Germany, France, and Australia.
Digging into the details, the majority (77 percent) of the Ping respondents have abandoned an account creation process at some point in the past few years. In doing so, they identified several major pain points, citing the number of security steps (29 percent), an excessively lengthy onboarding process (33 percent), and intrusive personal information requests (40 percent) as the things that prompted them to walk away from the interaction.
According to Ping, those findings show that consumers are becoming increasingly impatient with poor customer service, and are increasingly willing to walk away in search of something better. That has obvious implications for a business’s bottom line. Fifty-six percent of the respondents have abandoned a service with a poor login experience, and 63 percent have indicated that they would leave for a competitor with simpler identity verification procedures.
Thankfully, the survey does hint at some of the steps that businesses can take to address the problem. The majority (58 percent) of the respondents would feel comfortable storing and using a digital ID on their smartphone, and almost half (46 percent) would prefer to use a service that does not force them to use passwords at login, and instead presents them with other, more streamlined authentication options.
Businesses should also give consumers more control over their privacy. Eighty-five percent want to know how their personal information gets used, but 72 percent had trouble finding that information and 60 percent have walked away from a service because they were worried about privacy. Those trends are likely to become more pronounced, since Gen Z is more likely to adjust their privacy settings than members of older generations (89 to 72 percent).
“Businesses need to integrate their security, privacy and user experience strategies to keep up with modern consumer expectations,” said Ping Chief Customer Information Officer Richard Bird. “Individuals have no hesitations about finding better experiences elsewhere, so companies that prioritize customer experience now will earn loyalty in the long run.”
Ping Identity currently offers a biometric onboarding solution that uses facial recognition to match new customers to an identity document. The company acquired the behavioral biometrics provider SecuredTouch back in June, and more recently discussed how modern identity technologies can help prevent fraud in a webinar with FindBiometrics.
September 22, 2021 – by Eric Weiss