Today’s consumers are increasingly concerned with protecting their personal data. Additionally, customers also demand more personalized experiences.
Consent management platforms (CMPs) are used by companies to legally document and manage a user’s consent choices prior to collecting, sharing, or selling user data from online sources such as websites and apps that use cookies, embedded videos, and other tracking technologies.
Establishing a relationship of trust between the consumer and the enterprise is critical to gaining and retaining customers, with 70% saying that it’s more important to them than ever before. So, how do you prove your dedication to honoring the privacy of others and establishing trust? Prioritize consent and preference management across marketing and advertising activities.
Here are 5 major Facts You Ought to Know About Privacy And Consent Management Platforms
1. The Nigerian Data Protection Regulation (NDPR) was initiated by the NITDA to protect Nigerians from allowing unauthorised individuals to process sensitive data of their citizens. A very laudable framework as this follows its counterpart framework in Europe (GDPR) and in the US (CCPA). More importantly, the framework helps create trust between companies and their customers if implemented using a Consent Management Platform.
2. According to a survey by OneTrust, our partner, and the Data and Marketing Association (DMA), 70% of customers say trusting a brand is more important now than before. Additionally, for every dollar spent on consent and preference management, businesses saw a 40x ROI.
3. Between compliance and profitability, NDPR expects that your websites provide avenues for your customers (called “data subjects”) to give their consent before you store, process, or transfer their data. This is called consent management, and NDPR is strict about it. Consent must be specific, clear, and in plain language. It’s not allowed to be hidden in legal notices or in groups of other notices. Your organization also has to be able to prove in detail to the governing authorities that users have given you consent to collect, store, and manage their data.
Understanding Nigerian Data Protection Compliance
4. NDPR compliance means meeting nine data subject rights requirements, including the right to withdraw consent. However, from what is obtained in most organizations, only a few of the data subjects’ rights may have been implemented.
The nine data subjects’ rights are:
- Rights to be informed
- Rights to view and request copies of their personal data
- Rights to update or correct information
- Rights to request for personal records to be deleted
- Rights to request for personal data transfer to another controller
- Rights to request for restriction or suppression of personal data
- Rights to object to the processing of personal data
- Rights to object to automated processing
- Right to withdraw consent
Consent Management Platform
5. You can’t run a modern privacy management program without a consent management platform that can be scaled across domains and devices. To make your privacy program profitable, your marketing team needs to be able to use the first-party cookie data collected from your website and mobile devices to manage its campaign and convert customers.
The ActivEdge consent management platform is designed to do just that.
It leads the consent management market, with over 350,000 websites and applications leveraging its technology to manage users’ consent and preferences. You can operationalize consent management using the most advanced, easy-to-deploy, and scalable solution in the industry.
This delivers technology that enables companies to empower their customers to take control of their data. This leads to better segmentation and personalization while making compliance simple.
With these, you will be able to
- Collect, centralize, and sync consent across domains, platforms, and systems to respect customer privacy and comply with 100s of global privacy regulations
- Collect preferences and first-party data from collection points and preference centres, centralize data, and integrate with other systems to drive personalization, trust, and loyalty
- Collect valid consent and demonstrate compliance on your website with the most widely used cookie consent solution – live on over 350,000 websites.
- Understand the tracking done in your mobile apps and deliver transparent and tailored user experiences to capture valid consent
- Capture consent for tracking and targeted advertising in over-the-top (OTT) and connected TV (CTV) applications
Transparency and trust with customers go beyond consent and preference management. The most successful consent & preference management programs are integrated with the broader privacy, security, and data governance initiatives in an organization
Ready to see how our solutions can help you operationalize your consent and preference management initiatives?
Request a 1:1 demo with our experts to learn more today.