As preference data continues to collect, it's imperative that the data is thoughtfully interpreted, and that you and your team are on the same page. Moving from preference management implementation to improvement hinges on defined and applied business rules and what meaningful metrics are used. These metrics may range from "hard," measurable key performance indicators (KPIs) to "soft" KPIs that are oriented around baseline customer expectations and customer interactions.
There are five categories of hard KPIs that can be measured when considering preference management performance. Those include:
Preventing Loss of Customers
Centralizing Preference Collection and Availability
Mitigate Compliance Risks
In this 12-minute webinar, Eric Holtzclaw walks viewers through the ways to define return on investment and success factors with KPIs. Do any of them ring true to you?
Don't forget to consider those soft KPIs, too. Customer conversions are easy to quantify but customer retention, engagement and lifecycle are about qualified perceptions. However with preference management tools in place, tracking soft KPIs becomes much easier. Customers will select useful or timely communications and opt out of ill-conceived campaigns. In the short term, the data will empower marketers to course correct, reducing churn and improving marketing efficiency. Over the long term, that data will represent an actionable sample size from which to make large-scale marketing decisions.
In the following weeks, we'll continue to roll out videos to guide you through interpreting preference data. If you haven't yet explored our Resource Center, you can download the Interpreting Preference Data whitepaper here.
Eric Tejeda is the Director of Product Marketing for PossibleNOW and CompliancePoint. Eric supports the organization’s growth objectives by productizing and launching innovative new products and services that fill critical needs in the marketplace.
With 25 years of experience, Eric firmly believes that permission-based marketing and preference management is a mega trend and the path to success for marketers today.