Topic: Customer Experience
To some, enhanced consumer protection rules (like the upcoming GDPR and ePrivacy regulations) are a bad thing that will hamper marketing efforts and lead to increased overhead, liability and hassle. To others, it is merely further confirmation of a broad and positive trend towards opt-in relationships between companies and consumers.
Research overwhelmingly confirms that relationship marketing informed by explicit, self-reported consumer preferences is exponentially more effective than the spray-and-pray model of the interruption marketing past. With that in mind, companies that have used regulatory changes as an opportunity to pivot towards interactive models of preference management and persistent consent have not only enhanced risk mitigation but also increased marketing ROI.
By framing the consent and preference collection process as a progressive conversation, enterprises are better able to understand and plan for customer communications in the era of GDPR and ePrivacy. Customers reveal their preferences in iterative steps related to their evolving interest in what a business has to offer and their perception of what the business will do with the information that is disclosed.
In many ways, consent and preference collection lie at the intersection of a customer’s interests and the interests of the company hoping to serve them. Seen in that context, it is clear that the interaction can be compromised when one party’s interests outweigh the interests of the other party.
For example, a lengthy and complicated registration page can act as a barrier to a trial software download because the customer’s interest in the product is not significant enough to justify the time required to fill out the form. The company over-emphasized its own interests at the expense of the customer and as a result, lost a valuable prospect. When trust is not established slowly between the customer and the company, the customer is more likely to question how the information being collected about them will be used. In fact, according to recent research from Oracle Eloqua, mean conversion drops significantly when more than six fields are on a form.
If you’re having difficulty reaching customers or converting website hits into tangible signups/opt-ins, consider these potential barriers. Is your process too complex? Are you emphasizing your desire for details over their convenience?