Getting out from between the Rock and the Hard Place
In my previous blog I discussed how the ‘We are 3’ concept of persona helps ij’s clients (and can help you) to grow an identity market and develop and deliver services. In this post I’ll be looking at how using ij’s Identity Market Growth Dynamics model can help you get out from between the ‘rock and the hard place’ that sits between what the consumer, and what the service provider, wants.
Understanding Market Growth Dynamics
Most of us are ‘given’ our digital identities by individual service providers, and we can only use those identities when transacting with that particular service provider. The challenge for extending services and identities beyond that immediate community is this:
Consumers only want to sign up if there are lots of places they already deal with where they can use that ID, or if they can use a couple of personas in the same place – ‘The Rock’
Service Providers only want to sign up if there are loads of consumers they can reach – ‘The Hard Place’
To work out how to get out of this tight spot, and how to grow a market, you need to understand the dynamics that impact growth. One way of framing and inspecting this challenge is to look at it against the ij 3D model of market dynamics with the following growth axis:
What I’ve observed through ij’s work with clients developing identity services is that the tipping point from ‘stuck between the rock and the hard place’ to achieving market growth comes with:
- Establishing a reach of at least 10% of your target market
- Achieving a density of at least three services
- Achieving a usage frequency of at least once a day
If we take into account the examples cited in my previous post of Facebook Connect, MiiCard and .verify.gov we now have a simple way to assess the effectiveness of their services, and what they need to do to achieve growth. Interestingly this implies co-opetition (where competitors cooperate) rather than competition, and of course this can throw up all sorts of new complexity in compliance as well as new ways of working. But here again, there are great examples of organisations that are working together in reaching the whole customer through their different persona; and growing the overall market using standards (eg OpenID Connect) or Trust Frameworks (eg OIX].
Opportunities and practical applications:
As a starting point, you may wish to cross reference the services that I have highlighted above against the ij Market Growth Dynamics model as a means of understanding how it can shape and drive discussion and decision making. From ij’s own experience, there are numerous examples of scenarios where it has proved invaluable for clients, including the following:
- Product Portfolio analysis & roadmapping
- Product ideation and ID strategy development
- Support for legal and compliance analysis of identity and personal data services
- Identifying what’s needed to grow a market and the most appropriate Go To Market route
- Articulating the concept of identity
- Building business cases
- Setting product KPI’s
Want to find out more?
I’m passionate about driving greater understanding of the identity market so whether you have a specific scenario where you think ij’s services could help you, or you’re looking for someone with ID domain expertise to address a specific audience, please get in touch, I’d love to help.