Data Management: Breaking Down Consent and Preferences

Customers data is the ultimate fuel in every business’ machine. Data inform marketers about where they can find their customers, what to tell them, when is the best time to talk to them and much more. Therefore, getting data right, is fundamental and the systems that manage these preferences are vital for businesses.

We partnered with OneTrust PreferenceChoice to explore the current state of consent and preference management and delve into the sources of data and its value to businesses.

We surveyed data and marketing professionals and their estimate is that for every £1 spent on consent and preference management systems, their business receive an average of £40.55 in return.

Moreover, businesses with preference management systems in place are more likely to report positive increases in their ‘Engagement rates’ (59%), ‘Sales/business revenue’ (53%), ‘Customer database size’ (52%) and ‘Opt-in rates/sign-ups’ (47%).

Given what the metrics say, marketers need to do more than just be GDPR compliant. Going the extra mile with customers data is what really makes the difference between ‘a brand’ and ‘a successful brand’. Indeed, data management systems allow brands to offer more personalised experiences (45% of marketers reported it as a benefit) and increased transparency (44%) – two key factors in fostering long-term customer loyalty and trust.

Download the full report to find out how you and your business can go beyond data.

Data Management: Breaking Down Consent and Preferences