How your Preference Management Tactics are Impacting your Opt-in Rates
Preference management tactics can easily be used to increase opt-in rates. Transparent preference management is closely tied to customer engagement and retention.
When you think about it, actively collecting, maintaining, and distributing consent and preferences should be the first stop for new customers and a perfect way to interact with existing customers.
Understanding what would make someone a repeat customer and sending them messages in ways they’ve self-identified gives brands power to nurture customers to stay with them for the long run.
In fact, executing your preference management tactics well – from preference centers, to cookie banners, to privacy policies – can mean the difference between a one time customers and one who remains loyal for life.
When 77% of consumers want to choose how, when, and where companies communicate with them, preference centers are a must.
But a basic preference center just won’t do the job anymore. It’s imperative brands gives users a variety of detailed options so they’re in control of the level of personalization and customization they receive.
To increase opt-in rates, preference center options should include:
- Demographic data
- Control over frequency of messaging
- Channels by which accepted messaging can be delivered
These preference center options should be available not just on a company’s website, but on all their properties where a customer may interact with your brand.
Most importantly, companies shouldn’t ask for information they won’t use.
This would abuse the true purpose of this preference management tactic. To allow brands to target messaging at consumers based on consent and personal preferences.
After one negative experience, 51% of customers say they will never do business with a company again.
That means consumers who struggle to understand a brand’s cookies banners or who are overwhelmed with their display frequency are most likely not opting in to receive additional information.
To avoid this negative affect, design cookies banners to match your brand. Don’t hide behind complex, legal jargon either. Keep language clear and simple so consumers know exactly what they’re opting in to.
Also make sure your cookies banners display on all devices and mobile apps, but not to users who’ve already responded to them. Displaying them to every user, every time, on every page is a turn off for users who’ve already responded to them.
Today’s consumers are well informed about their individual rights when it comes to preference management.
With consent at the heart of preference management, it’s critical brands invest in accurate privacy policies.
Conclusion: The Future of Preference Management
Focusing on preference management tactics can pay off big for brands.
Building preference centers, cookie banners, and privacy policies that put the user experience first leads to higher engagement and opt-in rates.
In fact, today’s consumers are more willing to opt in to give brands their personal information.
If companies can deliver on their promises to use this data to increase personalization and convenience, preference management represents a huge win now and in the future.
OneTrust PreferenceChoice can help your company with every aspect of your preference management tactics. Reach out today to schedule a 1-on-1 meeting with an expert to learn more.