Data is arguably a business’ most valuable “asset.” Since the introduction of modern data privacy regulations like The General Data Protection Regulation (GDPR), consent fatigue is fast becoming a risk that businesses must guard against. As a result, businesses must implement strategies to maintain access to data without falling foul of the Data Privacy regulations in their jurisdiction and, at the same time, without frustrating their customers and web visitors.
Much has been spoken about how, through the introduction of The GDPR, consumers’ data privacy would be protected online, yet research by The Exchange Lab and Populus indicates a massive 72% of respondents said they feel annoyed about the number of times they must accept cookies to access the content.
Following the significant uptick of consent requests since The GDPR was introduced and the increased vigilance from the Regulators, it’s easy to see why consumers are becoming frustrated. Many organisations, in a bid to ensure compliance, ask their customers for consent multiple times, across multiple different touchpoints.
Attracting new customers is almost always more expensive than retaining existing customers. This is particularly true of online retail, where a seamless customer experience is pivotal to maintaining that loyalty. Bombarding customers with consent requests will cause frustration to build to the point where eventually, you lose their business to your competition.
Understanding the “consent” you have from customers is critical to avoid having to ask again and again. Allowing your customers to manage their consent preferences themselves builds trust into the fabric of your organisation, putting the customer at the centre of your business. This is where a powerful data consent and preference management platform is crucial.
In the face of continuous regulatory change, consent and preference management platforms allow businesses the ability to create a trusting relationship with their customers, leading to increased sharing of personal information that benefits both parties. A powerful consent and preference management platform enables a business to request and consolidate consent in a centralised, secure, and indisputable record, across domains, creating a seamless experience for the customer whilst also providing the ability to automatically demonstrate your lawful compliance.
Consent must be granular, concise, and freely given. As such, it can also be freely withdrawn. Consent of a consumer is an ongoing and dynamic relationship with your business. All businesses, regardless of sector, should prepare for and improve their consent and preference management processes to avoid consent fatigue resulting in a breakdown in the relationship with their customers.