Effectively and efficiently building customer trust with your consent and preference management practices requires strategic planning. The landscape that companies face in light of heightened consumer privacy expectations and regulations is complex, siloed, diverse, and fast-changing. However, the financial incentives to overcome these challenges have never been greater. In addition to incentives revolving around building trust in the customer relationship, reducing regulatory risk exposure, and automating these processes for efficiency, the deprecation of 3rd party cookies has also created urgency to bake privacy and data collection into CX in a more strategic way for supporting revenue generation programs for customer acquisition and retention.
Below, we offer guidance on how best to plan your consent and preference management strategy.
Additionally, for a short time, we are making the Gartner® Market Guide for Consent and Preference Management available for download at no cost. This research allows companies to evaluate consent and preference management capabilities, and make a balanced, forward-looking product choice.
The Situation
The privacy and consent landscape is shifting rapidly in a way that’s critical for brands to adjust to both provide effective CX and comply with new regulations and technology changes. Based on Tealium’s 2023 State of the CDP Report, Privacy is the #1 goal for organizations heading into 2023.
No matter whether you don’t own a CDP or you’ve had one for 4+ years, better protections for customer data privacy is a top marketing priority, based on Tealium’s annual State of the CDP report.
Diverse regulations are emerging that give consumers rights over their data. To comply, brands need to have control over data.
Siloed data not only leads to poor CX, but also an inability to honor preferences, build trust, and comply with regulations.
Brands need a central tool, integrated throughout the tech stack, that automates enforcement of privacy across the customer experience. Complementing this enabling technology, is the overall customer experience strategy. Here are some tips for building effective consent and preference management capabilities:
Some features the central solution technology should include:
For more information check out the Gartner® Market Guide for Consent and Preference Management available for download at no cost.
Tip 1: Make Privacy Purposeful
The first step towards creating a trusted dynamic with your customers is to only collect necessary data in a way that respects customer privacy. To achieve this foundational goal you can create (or optimize) a Data governance program with the following steps:
Tip 2: Give Customers a Reason to Opt-in
When it comes to consent and preference management, how you collect your customer data is as important as what data you’re asking for. Customers are tired of being asked for permission and the fatigue from being constantly asked to provide privacy preferences when visiting websites is real. Follow these steps to ensure the customer comes back for more instead of taking their data and running:
Dive into more specifics on How to Design an Ongoing Data Collection Strategy in this blog post.
Tip 3: Map Out a Customer Journey that Builds Trust
62% of customers expect brands to personalize every interaction and 74% said they feel frustrated enough to abandon an experience when the offer is irrelevant to them. By mapping out your customer’s unique and personalized journeys, you can obtain a better understanding of your customers and deliver one-to-one marketing communications that build trust. Make to plan with the following in mind:
To get more specifics about these recommendations and more, check out Tealium’s In Data We Trust ebook, A Guide for Establishing Customer Trust Through Privacy.
How Tealium Fits In
Tealium plays a multi-faceted, flexible role in helping organizations build trust with customers through privacy and consent and preference management practices. Here’s how Tealium can help:
Check out the Gartner® Market Guide for Consent and Preference Management solutions for additional information on what other capabilities can be incorporated into your consent and preference management strategy.
Gartner, Market Guide for Consent and Preference Management, Nader Henein, Bart Willemsen, Bernard Woo, 31 October 2022.
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