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Why Marketing Consent & Preference Management?

Why Does Marketing Consent Matter?

Whether or not you’re in marketing, you’ve most likely interacted with an email unsubscribe link or wanted to adjust your preferences and how a certain company interacts with you online.

These interactions between consumers and advertisers are nothing new.

Still, the big difference now is that regulations and lawmakers are catching up – and the penalties can be massive if companies aren’t complying with consumer marketing consent & preferences.

For some context, here are some companies that have already been dinged for not complying with the localized laws in places where they are doing business:

  1. H&M | $35.3 Million | GDPR Fine
  2. Tik Tok | $92 Million | CCPA Privacy Class Settlement

This may seem scary, and it is – but don’t let this pending dread over privacy regulation get you down.

There is a strong chance these regulators won’t be coming for your business…yet. The fact is that these companies are big and popular and regulators are using them as an example.

There is still time for your business to get ahead of the pending tsunami of fines that are inevitably headed our way.

Consent Management is Getting Easier

The good news is the privacy industry is catching up with these laws and regulations. It’s easy to monitor, update, and store the data associated with your customer’s consent and preferences.

You need a SaaS system from an industry leader that can get you there…hint, hint.

In summary, the industry is shifting and changing fast. New laws are being passed all the time. In fact, Gartner predicts that by 2023, 65% of the world’s population will have its personal data covered under modern privacy regulations.

The good news is it’s never been easier to navigate such a complex and intense industry – TrustArc is here to help.

Key Takeaways

  1. Regulators are catching up with the rapidly changing privacy laws being introduced all around the world
  2. Big companies are feeling the pain as regulators are starting to enforce the law – and the fines are massive
  3. Privacy specific SaaS companies, like TrustArc, can help your company get compliant fast, so you can start working with more confidence
Key Topics

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