Do you know that, on average, 70% of eCommerce shoppers abandon their carts before checking out? Customers leaving their carts is one of the most common issues in all eCommerce sites.
There can be various reasons behind this abandonment: for example, the high shipping charge or the customer is simply not ready to buy! However, in most cases it is data theft or payment frauds that prevent customers from trusting the merchant again.
So, how do you prevent consumers from abandoning their carts? The simple answer to this is CIAM for eCommerce. Customer Identity and Access Management (CIAM) is an emerging SaaS solution that emphasizes security to improve the digital customer experience.
So, let’s take a deeper look into how CIAM can stop the issue of abandoned carts.
CIAM is a cloud-based SaaS solution that uses robust security protocols for a smooth and protected customer experience. This emerging solution benefits not only the customers but also the organization. CIAM for eCommerce allows merchants to securely store and manage all customer identity and profile data. This helps ease the customer access to their applications and services without adding to the organizational risk factor.
In a broad sense, CIAM can be defined as an omnichannel pathway for both customers and the company. By deploying multiple security protocols like authentication, data governance, deployment and customer profiling, CIAM enables a liberal and seamless customer user experience.
Customer identity and other credentials are sensitive information that hackers can easily misuse. Most eCommerce sites struggle to provide proper storage to prevent hackers from reaching and exploiting such data.
Thankfully, CIAM helps you collect data as well as secure it. What makes it even better is that you can collect customers’ data that is beyond just registration! That’s right, through CIAM, you can even collect helpful information such as customers’ shopping patterns, buying choices, etc. And of course, you can use this information to boost your targeted marketing strategies and other ventures.
Talking about security, CIAM solutions tokenize customer identities to detach them from sensitive data while it's in storage. Furthermore, these solutions also use robust data encryption and hashing to ensure the privacy of sensitive information and credentials.
Overall, CIAM benefits the organization by allowing them to maintain visibility over the data they collect. In this way, the data collected can be monitored, stored, and accessed much more securely. Not to forget, the security of all of this information also plays a significant role in fulfilling legal compliance like GDPR.
As mentioned above, the risk of data breaches and payment gateway scams prevents customers from checking out their carts. Strong authentication protocols are the best way to secure customers against these issues.
CIAM for eCommerce uses various authentication protocols that help achieve this goal. Specifically, multi factor authentication (MFA) enables passwords to be just a part of the authentication process. Here, the consumers need to provide a few more factors to prove their identity, for example - a PIN or a fingerprint.
In addition, the customer’s device can also be a part of the authentication process. For example, when you must've tried to log in to your Google account from a new device, you might have received a similar email notification asking if that’s you or not.
Another authentication process included using social media logins as the means to connect with the merchant. Not only is it an added security feature, but it also helps maintain strong identity management.
These simple yet powerful factors only take a moment and do not disrupt the customer experience. Thus CIAM’s robust authentication process gives customers a better sense of security while online shopping, preventing abandoned carts.
CIAM for eCommerce can be easily integrated into both modern and old applications. That’s why we can see CIAM being used by many new and legacy enterprises striving to make the process more straightforward.
It helps enable the organizations to have greater control of their information across every platform and application, from websites to apps and more. This ensures the streamlined user experience regardless of the device and location of the customers.
Consumers expect simplicity and speed with new-age authentication like the use of biometrics that replace passwords for secure and seamless login. Likewise, CIAM helps streamline the data storage and authentication to secure your customer experience and provide you with a competitive edge. The combination of these factors makes CIAM a powerful platform for any eCommerce enterprise.