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How Online Account Access Can Lose Customers

 
 
By Dennis McCafferty  |  Posted 11-09-2016
 
 
 
 
 
 
 
 
 
  • Previous
    How Online Account Access Can Lose Customers
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    How Online Account Access Can Lose Customers

    Concerns over online accounts are high given some recent data breaches, and businesses need to do a better job of explaining how account information is used.
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    Major Issue
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    Major Issue

    94% of survey respondents said they are concerned about data privacy, with 61% of these respondents saying they are "very" concerned.
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    Social Acceptance
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    Social Acceptance

    58% of survey respondents use "social log-in" options to gain access to an online account from a company, meaning they use their credentials from Facebook or Google to connect.
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    Convenient Matter
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    Convenient Matter

    Of those who use social log-in to gain access to company accounts, 43% said they don't want to spend time filling in registration forms to connect, and 42% said they don't want to create—and need to remember—another user name/password.
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    Agreeable Terms, Part I
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    Agreeable Terms, Part I

    47% said they are willing to share information with a company if they're assured the information will only be used by that company.
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    Agreeable Terms, Part II
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    Agreeable Terms, Part II

    45% said they are willing to share such information if the company makes it "very clear" as to how it will use the information.
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    Participation Barriers
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    Participation Barriers

    Of those who aren't using social logins, 56% said they don't want companies knowing about their accounts and account activities, and 49% are concerned about security/privacy risks.
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    A Better Way?
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    A Better Way?

    Two-thirds of survey respondents overall said they'd be open to the idea of using fingerprint scanning or voice recognition as a means to access accounts online.
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    Subpar Performance
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    Subpar Performance

    Only 21% of survey respondents overall said they feel companies do a good job of marketing to them online, in a way that's personal and relevant to them.
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    Spam Nation
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    Spam Nation

    56% said they receive no less than four irrelevant messages from companies every day, and 27% said they receive at least ten of these messages daily.
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    How Consumers React to Irrelevant Messages from Companies
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    How Consumers React to Irrelevant Messages from Companies

    Unsubscribe from email list: 85%, Ignore future communications from the company: 63%, Mark message as spam: 59%, Stop visiting company's website: 36%, Stop buying products from company: 27%
 

CIOs must help their organizations find an easier way for customers to access their online accounts, according to a recent survey from Janrain. Many consumers are fed up with filling in yet another registration form, while needing to memorize an endless number of usernames and passwords. A way around this, of course, is "social log-ins," which allow users to connect through accounts such as Facebook. However, many survey respondents avoid social log-ins because they don't want companies to acquire information about their social account activities. They also have security concerns about this technique. (When it comes to creating an account at all, it doesn't help that organizations still overload their customers with irrelevant marketing messages after users take the steps to do so.) "Social log-ins are table stakes for online businesses since most web users will no longer sign up to a new site without them," said Jamie Beckland, vice president of product for Janrain. "But privacy concerns are understandably high given some recent high-profile data breaches. Businesses need to do a better job in the way they use account data to market to users, as well as make sure they're clearly explaining how the account info they access is used and shared." The findings include insights about how customers feel about emerging account-access technologies such as fingerprint scanning and voice recognition, and we've included those here. A total of 575 U.S. residents took part in the research.

 
 
 
 
 
Dennis McCafferty is a freelance writer for Baseline Magazine.

 
 
 
 
 
 

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