We spend a lot of time talking about preventing opt-outs
through preference management - the active collection, maintenance and
distribution of unique consumer characteristics, such as product interest,
communication channel preference and frequency of communication.
And rightly so. Anytime a customer chooses to remove
themselves from all future communications – the so-called “atomic opt-out” –
they are likely gone forever and represent a dangerous erosion of the prospect
To avoid this, we work with companies to provide opt-down
functionality that empowers customers to narrow their focus and ensure that the
content they receive is timely, relevant and delivered through the appropriate
The importance of preference management was driven home for
me yet again when I stumbled across a surprising statistic: a recent study
from the International Customer Management Institute found that 49 percent of
consumers reported they would be willing to move to a competitor who provides
the same product or service but in their preferred channel.
The only distinction that, according to recent research,
would move roughly half of all consumers from one company to the next is
whether or not that company serves their channel of choice.
It’s a remarkable finding and one that underscores just how
high the expectations are for personalization. Kudos to the companies that
already have preference management functionality in place and find this stat to
be a confirmation instead of a wake-up call.
Eric V. Holtzclaw is Chief Strategist of PossibleNOW. He's a researcher, writer, serial entrepreneur and challenger-of-conventional wisdom. His book with Wiley Publishing on consumer behavior - Laddering: Unlocking the Potential of Consumer Behavior - hit bookstores last summer. Eric helps strategically guide companies with the implementation of enterprise-wide preference management solutions.
Labels: channel preference, consumer characteristics, International Customer Management Institute, preference management, smart customer service, statistics