(Consent Management Software & Experts)
Capture and honor your customer’s consent to create a foundation of transparency and trust while handing them control over their data.
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The Importance of Consent Management
Customers have lost confidence in how businesses use their data, protect their privacy and conduct business communications. This is resulting in new global privacy regulations as well as the elimination of third-party cookies, the need to collect consent, and more.
As the requirement for consent collection is becoming increasingly common and complex, organizations must create a consent management strategy to avoid significant fines and to maintain customer trust. To accomplish this requires four core components. You must...
- Be transparent by disclosing how you will protect and use your customer’s data
- Collect consent by type of communication (e.g., marketing or service communications) and specify in the disclosure language which channels will be used, and which affiliated companies will communicate with them.
- Give value in return such as personalization, relevant promotions or enhanced customer service
- Provide customers control over their data ensuring they can easily add, edit, and delete it at any time
The business benefits of doing so include improved lead generation, remarketing programs, audience building & profiling, omni-channel marketing, loyalty and customer service.
Consent Strategy Within Large Organizations
Consent management is more complicated within large organizations. Large companies typically do business in multiple jurisdictions. That means that they are subject to state, federal and international regulations in each of those geographic locations. All these unique regulations must be managed properly over time. Additionally, multiple business units, departments and databases make business rules and interoperability vital to the success of enterprise consent management. When a customer or prospect provides consent to any business unit, that consent must be honored across the organization.
And if you receive a regulatory inquiry, a full audit history must be readily accessible.
The EU GDPR consent requirements are currently the most stringent across the globe, but other countries (e.g. Canada or Brazil) and states (e.g. California, Florida, and New York) are quickly enacting their own regulations to keep pace.
So, not only must user consent be collected, but it is also vital to ensure consent is collected at the right customer touchpoint, with the correct content, in the right language and locale. Additionally, organizations must know where it is stored, how to access it, and how to update it.
Don’t know where to start? Learn more about Catalyst .More Information
How is Consent Strategy Different from Preference Strategy?
Today's technology is much different than it was 20 years ago. No one could have predicted how the Internet; smartphones and the widespread use of social media applications could have global implications. This massive technology evolution makes customer consent, preference, profile, and insight data, collectively referred to as zero-party data, the most important data available. third-party data is highly inaccurate, whereas, zero-party data is data provided directly from the customer, it’s very accurate, provides more insights, and it is proprietary.
The core differences that drive consent strategy are considering the impact of corresponding regulatory requirements and the requirement to obtain consent prior to engaging with prospects in certain jurisdictions. Whereas customer preferences and insights are optional and help businesses personalize their customer experiences. This makes it imperative to both successfully collect consent (“the art”) and to do so in compliance with respective regulations (“the science”).
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Our Strategic Consultants Can Help
Our expert consultants have in-depth knowledge of global regulations, technology, data integration and consent collection best practices. They can architect a solution design that both complies with regulations, builds trust and motivates prospects and customers to engage with your business, increasing customer retention and lifetime value.
We provide a holistic suite of services to help you regardless of where you are in your journey. Perhaps you’re in the initial stage of conceptualizing where to collect consent, or you need help optimizing technology that you’ve already deployed or are somewhere in between. We provide Voice of Customer research, discovery, thought leadership, solution design, integration and compliance expertise to help you establish a foundation of transparency and trust.
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