Higher, Extra Private Buyer Experiences: 4 Issues Entrepreneurs Ought to Know and Do
As a marketer, your marketable database is your most desirable possession. Marketers are hungry for data today, and that's no secret. The more information you have about your customers, the better you can deliver content that drives conversions and revenue.
Brand loyalty is the sweet spot of marketing. Targeting current customers with personalized cross-sell or upsell messages across specific segments is a must. However, many marketers see global data protection regulations as an obstacle that can affect their marketable database.
For customers, data protection is a top priority and they have more control over their data. They want personalization, but they also want to know that a brand is looking out for their best interests. This is where a preference management system becomes key: you can show customers that you are listening to what they want while respecting and protecting their privacy.
Here are four ways you can use a preference management strategy to create a better, more personalized experience for your customer.
1. Reduce the number of opt-outs
Avoiding opt-outs and unsubscribes is one of the most common challenges for marketers. Although you cannot control customer behavior, you can give them alternatives that reduce the risk of them taking an irreversible "unsubscribe all" action.
In traditional preference management, consumers have three options:
- Unsubscribe globally
- report for spam
- Manage settings
Without an existing preference management system, you can be one click away from a global unsubscribe or a place in the spam folder.
By implementing a preference center or trust center, you can reduce the number of global unsubscriptions and spam reports. You protect your marketable database and don't miss the opportunity to contact your customer as a whole.
2. Place the user in the driver's seat
Creating personalized experiences for customers can lead to valuable brand loyalty by building trust with your audience. You show them that you are listening to what they want and that you are responding to their desires.
A preference management center allows you to gather detailed information on customer preferences to create the most targeted messages.
A preference management system not only offers options in addition to an opt-out, it also helps you understand your target audience members exactly and deliver them what they want, when and where they want it:
- Interests: Not every email you send is relevant to every audience. Let users segment themselves and choose relevant products and content that they want to hear about.
- Frequency: A major reason for unsubscribing is frequency fatigue – too many emails are being sent. Give users control over how much they want to hear from you: daily, weekly, monthly, or quarterly.
- Channels: Enhance your user experience by meeting them where they are: email, mobile app and / or SMS. Allow them to choose the channels they'll hear from you on.
3. Centralize your management
You communicate with your users through various channels, platforms, and business functions that may be isolated or not properly synchronized with each other. Without a centralized, single source of truth for consent and preference, you risk disappointing your audience.
For example, a user may unsubscribe from product updates through one channel [e.g. a webinar registration], but you would make the mistake of receiving product update messages a few days later through another channel, e.g. B. e-mail.
This is not what users expect. It associates a negative experience with your brand, which does the opposite of brand retention and loyalty. If you keep a central log of consent across all touchpoints, you can scale your messages and maintain trust with your customers.
Centralized management of data is also helpful to help marketers plan campaigns, maintain a consistent understanding of their addressable market over time, and demonstrate compliance with the least amount of effort and stress.
4. Go beyond regulated consent
Today more than ever, privacy is paramount for consumers. Compliance with regulations like CASL, GDPR, CCPA, and LGPD is just as important as meeting customer expectations for privacy and security.
Amid ongoing privacy regulations, marketers can use preference management to respect privacy and build trust with customers. The standardization of data protection and marketing corresponds to the general needs of consumers. They gain valuable trust knowing how their data will be safely used to relate to their terms.
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The most valuable component of your job as a marketer is building trust with your customers by better understanding what they want. Preference management should be seen as a tool to understand your customers and ultimately provide them with a satisfying and personalized experience with your business.