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It’s Not Stalking, It’s Social Selling. Three Lessons for Corporate Social Success

It’s Not Stalking, It’s Social Selling. Three Lessons for Corporate Social Success

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A few years ago, while working with SAP, I setup a social selling program for our leading global sales team. Given their initial reluctance – and the bad wrap that social media held within corporate circles – I developed a deck with the title “It’s Not Stalking, It’s Social Selling”. The title alone got us over the first hurdle – the natural distrust of technology and social networks that almost all of us feel when first venturing into the vast social network space. But what followed was an eye-opener for both me and the teams. And those lessons continue today.

Here are three vital lessons that I learned years ago, but continue to learn from today:

1. You’re only a leader when you have followers

When I boldly pitched this program to senior executives, I had a sense that it was groundbreaking. That no one had done this before. But it also needed to succeed, so I had to tread carefully. It had to be successful. The first focus for “social selling” was Twitter. We built a program, trained the teams and gingerly began engaging with customers. What response did we get?

Crickets.

Then a couple of clients emailed to explain that they LOVED that we were engaging this way. But they were not ready yet. Don’t expect engagement. Interaction. Sales progression. The program was too early. It was worth nothing.

2. Go with your instinct but follow the data to reach a discovery

Following on from my disastrous first steps, I realised that I had followed my instincts not the data. While my instincts were correct, they led to the wrong conclusion. Yes, the shift was on for digital engagement and social selling. But no, at that stage, Twitter was not the right channel (but these, days, hmmm – maybe we should talk). When I conducted a personal branding audit, I realised that the teams had an untapped resource right at their fingertips. LinkedIn. There was a network already in place. They were comfortable in using it. And our clients were also present.

Go with your instincts – but back it up with data. Setup a hypothesis, test it and learn. Save yourself the grief of a too-soon failure.

3. We are all experts

Hardly any of us can view our skills, experience and achievements objectively. Naturally, we judge our own capability according to our own efforts and the activities of those we trust most – and if we all work, operate, collaborate and share with like minds, we often don’t end up with innovation but with “group think”. Keep this in mind.

When I began shifting the social selling program from Twitter to LinkedIn, I conducted a brief audit. I rang participants to understand their online behaviours. I asked about how they used LinkedIn, what worked for them and why. I also looked for best practices. I found there really were LinkedIn gurus within the company whose abilities and profiles were far superior to my own. They used LinkedIn in a qualitatively different way. So I canvassed their opinions and insights too.

I learned that each person’s view of expertise is limited to their worldview. The first step in transforming practice is to open that worldview to the “glare of the guru”. And this is where data comes into play again. If you have been using a social platform for years, have a few hundred followers or connections and feel like you have “joined the conversation” – then you’ll be an expert. But are you an expert at scale?

If only I had LinkedIn’s social selling index back then. It’s a daily-updated dashboard that measures how effective your personal brand is, how well connected and engaged you are on the LinkedIn platform, and how well you build relationships. Importantly, it also measures you against your existing network – as well as your industry – so you know how you compare across two measures, not one.

Of course, it’s focused entirely on driving greater use of LinkedIn, but if that is where you are starting with your social selling program, then it’s perfect.

Based on my profile, it seems I need to engage more on LinkedIn (ie consume content, comment etc) and find more prospects (no doubt with the LinkedIn Sales Navigator). At least I now have action points based on data. So look out, if we’re connected, I’m coming to talk to you about what I’m good at. But don’t worry, it’s not stalking, it’s social selling.

LinkedIn-ssi

Marketing Transformation Chief Marketing Officer

ServiceSource®: Customer Success Management for a Post-Sale, On-Demand, Attention Economy (Part 2)

ServiceSource®: Customer Success Management for a Post-Sale, On-Demand, Attention Economy (Part 2)

Welcome back to Part 2 of my vendor profile of ServiceSource® (part 1 available here). If you’d like to view the table of contents plus a few pages of the report, just scroll to the bottom of this post!

Customer Success Management Field Sees Tremendous Growth

Through conversations with clients, prospective buyers, system integrators, partners, and vendors, Constellation sees five big themes in customer success management (see Figure 1)[1]:

  1. Delivering a brand promise instead of a product or service requires new approaches. The onus of delivering on the brand promise – providing great experiences with a company no matter when the customer interacts with it – is putting new pressures on brands and software vendors. This means the business model of both must shift. A company’s business model must move post-sales care to a more mature level. This evolution requires a different mindset and approach to customer lifetime value.

Figure 1. Four Areas Needed to Master Customer Success Management

4trends

[1] See “The State of Customer Success Management 2015” by Natalie Petouhoff, Constellation Research, December 22, 2014.

  1. Companies who believe in customer experience build CSM organizations. Not all CSM organizations are created equally. In an opt-in economy, the economic value of a customer is realized over time, instead of in the upfront sale. This means that organizations that want to become CSM-oriented are looking at three main areas:
  • Hiring, training and rewards for employees
  • Becoming a center of excellence for CSM
  • Strategy combined with data
  1. CSM cultivates more customers, lowers churn, and improves margins. The reason many companies have adopted the opt-in business model is that they realize, when they consistently deliver great experiences, they have loyal customers who advocate for the brand and often will make referrals. Advocating for the brand can be in the form of a post in a social network or offline in telling friends or family of their experiences.
  2. Predictive analytics identify known attributes and reveal previously unknown attributes that drive customer success. The only way to preserve a company’s revenue stream is to keep customers opting in. To become a CSM organization, a company has to actively manage customer relationships to ensure the customer is getting value. This critical step requires data in the form of real-time and predictive analytics.
  3. Integration of the Internet of Things and predictive analytics improves precision of decisions. The amount of data and analytics that CSM platforms provide is important, especially when data from sensors and other sources (that make up the Internet of Things) is integrated into the solution to provide a company with predictive analytics and actionable insights that drive better and more precise decision making throughout an organization.

Be sure to check out my vendor profile of ServiceSource®. An excerpt of the profile including the table of contents is available to download.

DOWNLOAD EXCERPT 

View part 1 of my vendor profile of ServiceSource. 

@drnatalie

VP and Principal Analyst, Constellation Research, Covering Customer Success Management, IOT, Analytics and Customer-facing Applications that Deliver Enhanced, Trust-building Customer Experiences via Customer Service, Sales and Marketing

 

Next-Generation Customer Experience Chief Customer Officer

5 Major Trends Affecting Human Capital Management

5 Major Trends Affecting Human Capital Management

Here are the five major trends affecting human capital management right now. Watch the short video below for a more in-depth explanation from Holger Mueller

 

5 Major Trends Affecting Human Capital Management

  1. Aging workforce
  2. Globalization
  3. Efforts to make talent management work
  4. Five generations of workers. Is your organization prepared to accommodate millenials?
  5. Real analytics. Analytics that take an action or make a recommendation. 

Download the slides

​5 Major Trends Affecting HCM - Holger Mueller

Download the slides

 

Future of Work Next-Generation Customer Experience Data to Decisions Tech Optimization HCM HR Employee Experience AI Analytics Automation CX EX Machine Learning ML SaaS PaaS Cloud Digital Transformation Enterprise Software Enterprise IT Leadership Chief People Officer Chief Customer Officer Chief Human Resources Officer

ServiceSource®: Customer Success Management for a Post-Sale, On-Demand, Attention Economy (Part 1)

ServiceSource®: Customer Success Management for a Post-Sale, On-Demand, Attention Economy (Part 1)

I'm in the process of writing profiles of vendors in the customer success management industry. These vendor profiles are a tool for buyers to evaluate their customer success management options before selecting a vendor. In addition to an overview of the vendor, these documents identify key differentiators, product offerings, and provide a short list guide for buyers. 

The first vendor I profiled is ServiceSource®. Stay tuned, as more profiles will be published in the weeks to come. 

Customer Success Management: ServiceSource® provides B2B companies with technology-enabled services, cloud software and best-practice processes to improve customer success, drive revenue growth and decrease churn from existing customers. It began as a managed services firm and evolved by adding a software platform. ServiceSource had $272.2 million in revenue in 2014.

salessourceWhat Does ServiceSource Do? ServiceSource’s solutions help companies manage the end-to-end customer revenue lifecycle, including onboarding and adoption, upsell and cross-sell, retention and renewals. With more than 15 years of experience focusing on customer success and revenue growth, ServiceSource has the depth of expertise companies need to manage their revenue lifecycle. With deployments across 40 languages and 150 countries and a recurring revenue technology platform, ServiceSource manages billions of dollars of recurring revenue for clients annually.

Why Customer Success Management Important Today: Today’s cloud businesses have unprecedented visibility and data on customers that can be harnessed with a customer success management platform. This opens up new opportunities and smarter ways to connect and engage with customers to maximize revenue and to determine what customers need and want so they remain loyal and provide high customer lifetime values.

An Overview of Customer Success Management: Before the opt-in economy, many businesses were focused on the initial sale. A great deal of money was spent advertising and marketing to potential prospects, enticing them to convert from a lead to a sale. However, little attention was paid to the after-sale experience and financial longevity of the client, even though poor customer experiences and churn still exist today after decades of research showing that after-sales service directly affects the financial stability of a company. In fact, it never made sense for companies to spend millions, or in some cases, billions of dollars in advertising, marketing and sales to then drive the customer to a competitor when the after-sales service experience is horrible. Yet poor after-sales service occurs every single day in many, many companies.

Before, During and After the Sale: Customer Success Management (CSM) is based on the ability to deliver a consistent customer experience process – before, during, and in particular, after the sale – which results in maximized customer lifetime value and enhanced revenue that leads to increased margins and profits. A shift to CSM happened because we live in a continuous, opt-in economy, where the value of customers is determined by how long they stay customers and if they continue to increase their purchase amounts over time. Because of our opt-in economy, companies must prepare themselves to deliver great, continuous and consistent customer experiences.

This seismic shift to a post-sale, on demand, attention economy transforms the value exchange among customers, partners, suppliers, and brands. And as organizations move to digital business models, CSM plays a critical role in enabling brands and organizations to keep and deliver their brand promise as well as enhance their bottom line.

What’s the Best Option for Your Company? When choosing the best option for CSM software for your organization, the choice will depend on the business goals of CSM initiatives, the degree to which CSM has been integrated into your culture and how well employees have adopted this mindset. It may be that some organizations will be further along the adoption cycle, while others will need internal champions to encourage and enforce the use of customer success software, processes and best practices.

Data to Decisions Drives the Democratization of Insight: The CSM field has been spurred on by the need to provide after-sales service intelligence that can be turned into actionable insights and decisions. Holistic, data-driven decisions require a multi-disciplinary approach that incorporates performance monitoring with traditional business intelligence technologies.

A multitude of data sources can be transformed into information streams guided by business process. As context is applied to information streams, patterns emerge that provide nuggets of insight. That insight then drives the ability to take action and make better decisions. This shift to using insight not only can serve high-margin, “luxury” brands, but also should be considered for all businesses through an investment in CSM. By transforming business models to include processes that immediately turn data into decisions, brands and organizations gain the ability to provide great, loyalty inspiring experiences that reduce churn and increase revenue.

Make sure to stay tuned for the next part of the mutli-part study!

Check out my vendor profile of ServiceSource®. An excerpt of the profile including the table of contents is available to download.

DOWNLOAD EXCERPT

@drnatalie

VP and Principal Analyst, Constellation Research, Covering Customer Success Management, IOT, Analytics and Customer-facing Applications that Deliver Enhanced, Trust-building Customer Experiences via Customer Service, Sales and Marketing

Next-Generation Customer Experience Chief Customer Officer

Why GIS is still stuck in the 1990’s

Why GIS is still stuck in the 1990’s

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When I was doing my undergraduate degree and started working as a (Geographic Information Systems) GIS professional over 20 years ago GIS was considered cutting edge across a range of industries from retail, to environmental management and defence. It drove so many issues from store location, weed management and mining analysis.

At Lend Lease back in the late 1990’s we were able to differentiate ourselves as leaders in the retail property sector because of the GIS investments and prowess particularly around trade area analysis and competitive modelling. It enabled us to have a point of difference against the larger Westfield group for leasing managers and fund managers alike.

We are now in 2015 and the best use cases of GIS are still store location, environmental location and demographic analysis. Every vendor case study I see has store location and resource management just as it was in the late 1990’s. Every user and even (sometimes with a gentle arm twist) laments the lack of progress in GIS.

The contrast to the explosive growth of other technology is overwhelming. In that time we have seen the rise of the laptop, Microsoft Office, email, the Internet, iPhones, Tablets, SaaS, Cognitive Computing yet GIS still appears to be stuck in a time warp of the 1990’s.

Even though I was primarily an Atlas GIS user, I was smart enough to realize that ESRI dominated then as it does now from an enterprise perspective; it has many challengers across the environmental, education and broader enterprise industries perspective but no-one has been able to match the depth of ESRI. For mine, that is the heart of the problem. I am a big believer that innovation comes from competition. Too many GIS markets that lack innovation, lack competitive scale from the platform, data and users and this is the central handbrake from the industry.

Of course there is Google Maps. Alongside ESRI this has been both a blessing and a curse for the industry. It has opened up location and mapping to be a central part of professional life and of course personal activities, but it has not lead to enough evolution.

Focus Point

The promise of mobility, analytics, IOT and many other facets of the Digital experience rely upon location as the central core. The location industry needs to wake up from the peak 20 years ago and help drive the relevance of GIS and location for enterprises large and small. Without it, the digital experience will not be enough.

If you require further information, please contact Phil Hassey,  Founder capioIT. capioIT is an advisory firm focused on helping organisations to understand emerging technology as the world becomes Digital. Phil may be contacted by email below,

[email protected]

 

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The secret lesson for corporates from the world of startups

The secret lesson for corporates from the world of startups

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When ANZ chief economist, Warren Hogan recently explained Australian business’ aversion to risk, it made a lot of sense. Not only are corporates concerned about project success, they are also geared and structured towards large projects which makes it more difficult to innovate in a more “agile” manner. This gives rise to several other challenges. Without flexibility, Australian corporations are subject to:
  • Unnecessary competitive disruption – smaller businesses can easily capture mindshare, momentum and a raft of unhappy customers simply because companies don’t have the agility to address emergent threats.
  • Higher levels of customer dissatisfaction – if customer experience projects are subject to this same lack of responsiveness, then customer satisfaction is more likely to quickly result in customer churn and lower NPS.
  • Market irrelevance – today’s customer is hungry for differentiated experience. Slow response to market challenges simply means that your market moves elsewhere. And they do so “at the speed of digital”.

But all is not lost. There are four key lessons that corporates can learn from the world of startups. And they can all be easily implemented, trialled and scaled with a minimal investment. I explain more here.

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Jive Circle: Useful Employee Directory App That’s A Secure Way To Quickly Search, Discover And Connect With Colleagues

Jive Circle: Useful Employee Directory App That’s A Secure Way To Quickly Search, Discover And Connect With Colleagues

Jive Software, Inc. (Nasdaq: JIVE), announced a new mobile application with the release of Jive Circle.  Jive Circle is a secure app for employees to quickly search and discover other employees in their organization. Jive Circle seamlessly integrates with the Jive Chime real-time messaging app, which provides employees a fast way to connect with colleagues.

I generally don’t write about the future of work or employee-facing applications. However, I see the importance of them. Why are they so important? I cover the customer-facing applications. And how an employee treats a customer is directly related to how they feel about the company they work for, the tools they have to work with and how easy it is to get their work done. If the employee experience is bad, it’s difficult to expect the customer experience to be good.

With the world increasingly mobile and with workforces are more dispersed than ever, people are looking for new ways to instantly reach colleagues. Jive Circle, is driving innovation in the way employees connect. And when employees connect, customers get the help they need, and the customer experience is better. It’s really that simple.

Mobile directory for employees @drnatalie natalie petouhoff JIVE Circle

What is Jive Circle? It’s a:

  • A dynamic employee directory for quick search, discovery and connection with teammates. Employees can quickly search a visual organization chart and identify subject matter experts across the organization. A simplified browse feature allows employees to easily filter and find information about their colleagues. Once a colleague is identified, a press and hold feature prompts connection icons for immediate contact via click-to-call, email or Jive Chime. Soon, Jive Circle will also feature a new calendar sync function that gives insight into who within the organization is joining meetings.
  • Enhanced security with the ability to add, edit and deactivate users. An ISO 27001 certified company with more than fourteen years of experience in the communications software space, Jive developed Circle with industry security best practices such as third-party testing and leverages the security of the Amazon Web Service environment. Additionally, IT administrators can easily import employee information to create accounts and build out their organization for the app, plus Jive Circle is built as SaaS, cloud-based software, which does not require any IT maintenance or installation.

If you are really curious, go see more at www.jivesoftware.com/circle. You can subscribe to updates regarding the Jive Circle early access program. It is available across iOS and Android devices.

How are your employees connecting to make better customer experiences?

@DrNatalie VP and Principal Analyst, Constellation Research

 

Next-Generation Customer Experience Data to Decisions Future of Work Innovation & Product-led Growth New C-Suite Sales Marketing Digital Safety, Privacy & Cybersecurity Chief Customer Officer

Articulate Your Business Case or Lose Customers To Competitors

Articulate Your Business Case or Lose Customers To Competitors

We Are Out of The Hype Cycle: Digital and Social Applications Must Solve Business Issues: I know when I first started to learn about social media and digital applications, I could see how they could change business. It made sense to me. I think because I am an early adopter. I’m referring to Geoffrey Moore’s technology adoption curve. There’s the innovators, who create all this cool new software. And then there’s early adopters like me, that look at those innovator’s inventions and realize the impact they can make.

Having been in this business for a long time, one of the things that I realized was that not everyone can see the value of social and digital. It’s not an intuitive thing for them. And there’s nothing wrong with that. It just is what it is. And that’s why businesses (vendors) who are in the business of selling products and services really need to take a look at their product management and product sales teams. Are they organized to sell to those that “already” get the value? That’s like selling ice to Eskimos. The people who get it, already bought your product.

MY POV: Where the rubber is now meeting the road is learning how to articulate the business value that digital and social applications, products and services provide. I am lucky to hear a lot of briefings on new things. However, what I am finding is that some companies need to really look at where the marketplace is in adoption of the new technology and perhaps shift some of their marketing messaging, but even more important to look at who are the persona(s) that they are developing products and services for? Are they for the early adopters? It’s a small part of the marketplace. Or is is for the early / late majority? That’s a much larger part of the marketplace.

Early Majority Want Your Help to Say Yes: And that part of that part of the marketplace (early majority) requires something different to convince them that they need this “new” product. They want to know what business challenges does it solve? They want to be shown how someone else had a “burning issue” and this product or service solved it and what the outcomes were.

If your sales pitch is not lined up that way, you maybe missing the market on the largest part of the marketplace. Don’t take it from me; reread  Geoffrey Moore’s Crossing the Chasm— it’s all about changing how you market and sell as the marketplace matures. Those who do, will find prosperity and those that don’t, won’t.

Digital Disruption Transformation Chasm

What Do You Need To Do Now? The key is to be able to articulate the business value. What is the business issue that your product or service solves? To know that, a business has to be really clear on who they are selling to. That means they need to define various personas and know what those personas face as daily challenges. They need to map out the-day-in-the-life of that professional. And they need to do this by going and talking to 10 or 20 or 100 of them. Don’t assume anything. Then align the challenges those professionals face with the solution you offer and can show an early majority person how your new “product or service” can solve their issue better than anyone else.

References, References, References: And having customer references is key, especially early majority customer references. Why? Because early majority folks convince other early majority people to take a chance at these new technology, processes and services. They believe each other more than they believe the vendor or even sometimes an analyst.

Watch Your Language: There’s lot’s of language issues in the current marketing of software and products / services. Almost everyone can claim to be influencing some aspect of customer experience. And by not articulating the business case of how that product or service clearly affects the bottom line, the buyer is confused and that slows the sales cycle down.

Understand Buying Signals: Your potential customers probably won’t say anything; they might say things like, “Hmmm looks interesting. Call me in a few months.” or “Send me a brochure.” NOTE TO SELF: Those are NOT buying signals. They are polite ways of saying, “I don’t have time for this; I don’t see how this applies to why my hair is on fire; I am not sure how I would apply this to what is happening in my department or company and I certainly have no idea how I am going to explain this in a business case to get my boss to say yes.

Do The Work: Don’t make your customer do the hard work. Create those business use cases. Create scenarios that the early majority can see themselves in. Articulate, even if it’s a back of the envelope calculation, the return on their investment. If you do this, it will make all the difference in your sales cycles, in your revenue and profits and your market position. If you don’t, someone else will.

Time to take another look at where the marketplace is in the maturity of the digital disruption and stop all the fanatical “speak” and get down to business. At least that’s my take. What’s yours?

@Dr. Natalie Petouhoff, VP and Principal Analyst, Constellation Research

 

Next-Generation Customer Experience Innovation & Product-led Growth Tech Optimization Future of Work AI ML Machine Learning LLMs Agentic AI Generative AI Analytics Automation B2B B2C CX EX Employee Experience HR HCM business Marketing SaaS PaaS IaaS Supply Chain Growth Cloud Digital Transformation Disruptive Technology eCommerce Enterprise IT Enterprise Acceleration Enterprise Software Next Gen Apps IoT Blockchain CRM ERP Leadership finance Customer Service Content Management Collaboration M&A Enterprise Service Chief Customer Officer Chief Information Officer Chief Technology Officer Chief Digital Officer Chief Data Officer Chief Analytics Officer Chief Information Security Officer Chief Executive Officer Chief Operating Officer

Hootsuite and the Instagram Integration You’re Still Waiting For

Hootsuite and the Instagram Integration You’re Still Waiting For

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Instagram has been wildly successful in building an alternative and deeply connected community of users. And I say “community” for a reason. Far more than the one-to-one-to-one connection that has made Facebook so popular and adoptable, Instagram’s connection architecture provides an easy way to connect people with similar interests and passions. And it does so whether that passion lasts only an instant or a year.

And while some brands have been able to build vibrant communities around their Instagram accounts, it’s often a hit and miss affair. It’s hard to keep track of the growth of a community base, almost impossible to gather key metrics, and even the simplest publishing functionality is notably missing.

Until now.

Hootsuite has announced that Instagram will now be integrated into their social media dashboard. This means that Hootsuite users will be able to:

  • Schedule and publish Instagram content
  • Monitor and engage with conversations on Instagram
  • Create team based workflows.

With content marketing becoming an ever-more important component of marketing strategy, this new integration provides marketers with a simple and easy way to bring that content marketing strategy to life.

Insta-Hoot

To get started:

  • Ensure you have the latest version of Hootsuite installed on your smartphone
  • Turn on Instagram notifications in the Hootsuite Settings
  • Start publishing.

Now, for the bad news.

While you can schedule Instagram posts, you still need to manually post to Instagram from your device. The Hootsuite integration just notifies you at the appropriate time that the post is ready to go. So, unfortunately, those wanting to seriously engage with Instagram as a brand and marketing channel will need to struggle with the lack of API integration.

This means Instagram will remain a promising but ultimately immature channel for most serious brand marketing activities. At least for now.

Marketing Transformation Future of Work Innovation & Product-led Growth New C-Suite Sales Marketing Next-Generation Customer Experience Digital Safety, Privacy & Cybersecurity Chief Marketing Officer Chief Customer Officer Chief People Officer Chief Human Resources Officer

Card Not Present fraud trends (sadly) back to normal

Card Not Present fraud trends (sadly) back to normal

The Australian Payments Clearing Association (APCA) releases card fraud statistics every six months for the preceding 12m period. For years, Lockstep has been monitoring these figures, plotting the trend data and analysing what the industry is and is not doing about it. A few weeks ago, statistics for calendar year 2014 came out.

CNP trends pic to CY 2014

As we reported last time, despite APCA's optimistic boosting of 3D Secure and education measures for many years, Card Not Present (CNP) online fraud was not falling as hoped. And what we see now in the latest numbers is the second biggest jump in CNP fraud ever! CY 2014 online card fraud losses were very nearly AU$300M, up 42% in 12 months.

Again, APCA steadfastly rationalises in its press release (PDF) that high losses simply reflect the popularity of online shopping. That's cold comfort to the card holders and merchants who are affected.

APCA has a love-ignore relationship with 3D Secure. This is one of the years when 3D Secure goes unmentioned. Instead the APCA presser talks up tokenization, I think for the first time. Yet the payments industry has had tokenization for about a decade. It's just another band-aid over the one fundamental crack in the payment card system: nothing stops stolen card numbers being replayed.

A proper fix to replay attack is easilt within reach, which would re-use the same cryptography that solves skimming and carding, and would restore a seamless payment experience for card holders. See my 2012 paper Calling for a Uniform Approach to Card Fraud Offline and On" (PDF).

Abstract

The credit card payments system is a paragon of standardisation. No other industry has such a strong history of driving and adopting uniform technologies, infrastructure and business processes. No matter where you keep a bank account, you can use a globally branded credit card to go shopping in almost every corner of the world. The universal Four Party settlement model, and a long-standing card standard that works the same with ATMs and merchant terminals everywhere underpin seamless convenience. So with this determination to facilitate trustworthy and supremely convenient spending in every corner of the earth, it's astonishing that the industry is still yet to standardise Internet payments. We settled on the EMV standard for in-store transactions, but online we use a wide range of confusing and largely ineffective security measures. As a result, Card Not Present (CNP) fraud is growing unchecked.

This article argues that all card payments should be properly secured using standardised hardware. In particular, CNP transactions should use the very same EMV chip and cryptography as do card present payments.

Digital Safety, Privacy & Cybersecurity Security Zero Trust Chief Information Officer Chief Information Security Officer Chief Privacy Officer