The terms “consumer privacy” and “marketing return on investment” do not always elicit a positive response from CMOs. How can a marketer achieve more return when their target audience continues to shrink either through opt-outs, government regulations such as Do Not Call or CAN-SPAM, or internal do not contact databases developed from irritated customers.
Privacy requests and preference management requires an introspective view as an opportunity to market more succinctly and with more efficiency to consumers. Preference management is at the core of any successful data-driven marketing campaign as the consumers are actively telling you how they want to be communicated with.
Consumers want to engage with your brand and your marketing message, but only through the channels that they can control and manage. Sales and marketing teams should leverage this valuable information that each individual has provided as a way to target the message to improve sales. Marketing efficiency should increase as the brand message is focused on the channels requested by the consumer. Companies should leverage the unique aspects that each channel provides to help improve conversion rates and consumer engagement.
Marketing waste also decreases as channels that were not effective in reaching a specific consumer are dropped which saves marketing dollars to spend elsewhere. Why telemarket to a consumer that has asked to receive only emails about your product?
Using these channels to create engaging relationships with your brand is what then creates the coveted ROI. Knowing which channels to deliver the right marketing message yields a higher return and better revenue opportunities. Another benefit is improved and measurable customer engagement. Customer satisfaction rates increase because consumers appreciate the respect provided to market in the indicated channel. Over time, as the engagement improves, the consumer may open up closed channels as they value the continued conversation with your brand.
By managing and appreciating the privacy and preference management requests of each individual consumer, the marketing organization has an opportunity to collect and embrace the communication requests of that consumer.