Improve Engagement Rates with Preference Management
Preference management has become an essential business practice.
When done right, it puts consumers in the driver’s seat. Users decide what data companies can use to market to them, what promotional messages they want to receive, and when they want to receive them.
Transparent preference management is the key to protecting customer privacy and giving individuals the personalization they’ve come to expect with modern marketing.
In fact, there are multiple ways companies can significantly improve customer engagement rates by pursuing consent management best practices.
Benefit 1: It Builds Trust with Customers
If you want to increase engagement for your brand, the answer is in making data security, protection of personal information, and consent permission-based consent a priority.
That means savvy companies will use preference management tools and processes to make the status and use of their data crystal clear.
It puts the reins in the hands of your customers. And when you put consumers in control, it increases their brand trust.
This has a beneficial snowball effect: The more your brand is perceived as trustworthy, the more open consumers will be about sharing their data. This increased data sharing gives brands the ability to execute personalized, permission-based marketing that increases engagement.
In addition, companies offering in-kind value for consumers’ data will earn more points.
Smart brands understand the intrinsic value consumers place on their data and give equally valuable information, products, and services in return for it. This transparency and respect builds invaluable brand confidence and trust.
Benefit 2: Optimize the User Experience
Even though people have put less trust in brands to use their data with integrity, they’re actually more willing to give brands personal information if it leads to convenience and personalization.
In other words, consumers will do a trade-off of their data if it means they get the right message, at the right time, at the right place.
This presents a momentous opportunity for brands to balance personalization with data privacy and optimize user experiences. Well thought out preference management processes cater to a consumers’ choices, benefitting how they interact with the brand and vice versa.
And delivering on these promises on the back-end with efficient and accurate processes, people, and technology will be essential to maintaining a flawless user experience. It goes well beyond a simple email unsubscribe:
- Giving users granular opt-down settings versus just a global unsubscribe.
- Maintaining accurate consent and preference details.
- Adhering to cookies compliance preferences on all devices and mobile apps.
- Quickly processing consumer data rights requests.
- Updating external privacy notices and alerting customers when necessary.
- Targeting messaging at consumers based on their shared data and personalization preferences.
While following these best practices opens the door for companies to increase customer engagement, consumers are still wary of brands who abuse the sharing of their personal data. Only brands that stick to transparent preference management will reap the rewards of a better user experience.
Conclusion: Successful Preference Management
Preference management is a way for brands to ensure when consumers hand over data, everything possible is being done to keep it safe and use it for the consumers’ best interests.
What that means is companies shouldn’t be collecting data they don’t need. They shouldn’t be keeping their customers in the dark about it. And they certainly shouldn’t be asking for forgiveness later rather than for permission first.
Being a brand that operates this way isn’t only selfish, it’s shortsighted.
Companies who understand the synergy between transparent preference management and increased customer engagement will be the ones who come out on top. Successful brands will build a culture of privacy, make it clear transparency is a priority, and deliver on their promises by using accurate and efficient preference management technology.
Want to learn more about preference management? Request a 1 on 1 consultation with a member of OneTrust PreferenceChoice.