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The say-do gap on consent management systems
New research from the DMA finds that just over half (51%) of surveyed organisations have a consent/preference management system in place, despite 73% of marketers recognising its importance.
Consent in context
Since the implementation of GDPR, one of a set of rules policing consent around the world, the management of user data has become vitally important to pretty much any company operating an internet presence. It is, then, surprising to find that 49% of companies are going their own way.
But the research, a collaboration with the consent and preference management provider OneTrust, tends to dwell on the abandoned business value and enviable returns that outsourced management can bring.
While this doesn’t exactly mean that 41% of organisations aren’t addressing the issue, the report suggests that having a management system can keep customers for longer and at a lower cost.
The chart [pictured above] shows responses form those with systems in place – though not necessarily OneTrust’s platform – reflecting some of the key the benefits:
61% report customer database growth
55% report higher engagement rates
54% report higher sales revenues
47% report enhanced conversion rates
“Marketers state that for every £1 spent on consent and preference management systems, they receive around £38 in return,” reports Tim Bond, Director of Insight at the DMA.
“The benefits are extensive, with many professionals stating that they have higher customer lifetime values and lower customer acquisition costs.”
Sourced from the DMA
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