OneTrust and DMA Report Finds 40x Consent and Preference Management ROI
OneTrust PreferenceChoice and the Data & Marketing Association (DMA) have released a new joint report: ‘Data Management: Breaking Down Consent and Preferences. The report finds a 40x consent and preference management ROI (£40 for £1 spent). Additionally, the report highlights the impact of investing in consent and preference management systems in reaching marketing goals.
The question is not if businesses have customer data, but rather how they are using it. All brands have data and it may be their most valuable—yet under-utilized—resource. By investing in customer data management systems, a business can better understand their consumers and communicate with their audiences.
Read the report: Data Management: Breaking Down Consent and Preferences
The research report found that marketers estimate that for every £1 spent on consent and preference management systems they receive a value of more than £40 in return. The ROI of consent and preference management is clear. Additionally, marketers can also expect more than just a revenue return by investing in a customer data management system. The report also found they found positive increases over 12 months in the following areas:
- Engagement rates (59%)
- Sales/business revenue (53%)
- Customer database size (52%)
- Opt-in rates/sign-ups (47%)
Marketers Can Leverage Report Findings to Reach Marketing Goals
“As highlighted by our latest research, there is strong consent and preference management ROI. Benchmarking against other organizations, brands and marketers is key to ensure you and your team are on the right track.,” said Claire Feeney, Product Marketing Manager at OneTrust PreferenceChoice.
The findings of this report highlight the importance of managing data from more than just a compliance standpoint. In order to utilize customer data management systems to their fullest potential marketers must work with compliance teams to think beyond regulation to reach marketing goals.
The information and statistics provided in this report can help marketers better understand and develop marketing strategies rooted in compliance, justify budgets, headcounts, and bandwidth decisions within their organizations.
To learn more about Consent and Preference Management ROI, read the report: Data Management: Breaking Down Consent and Preferences. For additional information or to request a live OneTrust PreferenceChoice demo, visit PreferenceChoice.com.
Further Consent and Preference Management ROI and Marketing Goal reading:
- DataGuidance News: EU: Navigating direct marketing in the era of GDPR and ePrivacy
- Watch the Webinar: Best Privacy Practices for Marketers
- Sign up for the webinar: OneTrust Announces Marketers Master Class, a New Virtual Event Series Designed to Build a Trust-Based Marketing Strategy
About the Data & Marketing Association (DMA)
The DMA is the UK trade association for the data and marketing industry led by customer-first principles and a Code of ethics. The DMA has over 1,000 member organizations across the UK and almost a century of experience pioneering approaches in the industry. Through the IDM, it continues to drive for marketing excellence through development and learning opportunities. DMA Talent’s range of initiatives is inspiring the next generation into the data and marketing industry to help meet the needs of today and tomorrow.
The DMA offers access to industry-leading events, the latest insight, advocacy, legal support, and guidance. It anticipates and campaigns for the needs of the data and marketing industry through its close relationship with government and regulators. From the classroom to the boardroom, the DMA is driving the force of intelligent marketing, moving the data and marketing industry forward – for the good of marketers, businesses, and most importantly, customers.