Best Consent & Preference Management Platform Features
Managing your consumers’ consent and preferences can be complex, but it doesn’t have to be a strain on your team. Consent management platforms help organizations comply with local and global data privacy regulations. Using a platform to streamline the process can ensure you remain compliant in the face of new and changing legislation while expediting data collection.
Those searching for a solution find that the best consent and preference management platforms not only streamline privacy operations, but also support marketing, sales, and customer engagement. This helps organizations to comply with privacy laws without exhausting organizational resources like time and money.
In this post, we’ll review what to consider when searching for a consent and preference management solution:
- Who can benefit from a consent and preference platform?
- What are the essential features to look for in a solution?
- Build vs Buy: Considerations between building and buying a solution
Who Can Benefit From a Consent and Preference Management Platform?
Any organization that is handling consumer data should consider a consent and preference management platform to track user consent and preferences and personalize customer experience. There are some organizations in particular that would benefit greatly from the streamlined services a consent and preference management platform offers.
Organizations that do any of the following should consider a platform in order to reduce risk associated with non-compliance:
- Use website visitors personal information to personalize ads, content, and marketing campaigns
- Use personal data to provide users with special access (i.e., form submissions)
- Collect data from consumers in certain geographical areas (i.e., Europe or California)
Organizations that don’t use a consent and preference management platform (CMP) are also at higher risk of losing consumer trust, which can significantly impact business revenue.
Essential Features of a Consent and Preference Management Platform
An effective consent and preference management platform simplifies the collection and governance of consumer requests. It should facilitate the process of informing consumers about the type(s) of data being collected and the intended use. It should also allow consumers to easily grant or deny the organization permission to collect their information and enable consumers to modify their preferences including cookies and other tracking technologies.
The best consent and preference management platforms allow organizations to:
- Simplify the data collection process
- Customize consent windows
- Collect consents and permit consent and preference adjustments
- Store a record of collected data
Simplify the data collection process
CMPs streamline privacy operations by providing brands and consumers with an easy to use interface for communicating consents and preferences. A consent and preference management platform also allows companies to stay compliant as global privacy legislation continues to evolve. Organizations can continue to collect data while putting the onus of compliance on the CMP and the privacy experts specialized in each regulation.
Customize consent windows
Consumers can access websites from anywhere in the world and depending on their location, the data privacy requirements might be different. Many data privacy laws and requirements have the same foundation, but there are still many differences between them. For this reason, it’s important that a CMP supports the creation of customized consent and preference portals and privacy experiences. A customized consent window provides the user with a relevant and simplified consent and preference experience.
Collect consents and permit consent and preference adjustments
Allowing consumers to provide their consent by opting in or out enables your organization to achieve data privacy compliance. Additionally, users are given increased control with the ability to request, edit, and revoke any consent or data containing personal information which your company has stored. This gives consumers (and prospects) an improved attitude towards your brand, and helps to build trust.
Store a record of collected data
Organizations must identify and record details regarding their data collection practices. This means you must be able to show among other requirements, what data you are collecting, the reason for collecting it, and the source of that data. CMPs help to keep a record of this information like names of consumers, email addresses, the dates and times when consent was received or revoked, and what exactly the consumer has consented to. It provides a clear indication of whether consent was given, and the legal basis for data collection at any point in history.
WireWheel’s Essential Consent Management Platform
As the demand to give consumers more control over their data grows, so does the need for a solution that makes managing consent and preferences easier for both consumers and companies. WireWheel’s consent management platform can help your company comply with consumers’ requests and privacy regulations today and into the future.