Research conducted by the Data and Marketing Association and OneTrust reveals the importance of Consent and Preference Management Systems is crucial according to 73% of respondents, up from 60% in 2020. The survey was conducted on 224 marketers working in UK companies. Awareness has also risen to 78% from 60% in 2020. However, only 51% had implemented a specific consent and preference management system. The report also highlighted a number of benefits to operating with a consent management system in place. The advantages reported include database size increases for 64% of businesses, engagement rates up for 55%, sales revenue growth for 54%, better conversion rates for 47% and increased opt-in rates/sign-ups for 47%. The report concluded that for every £1 invested in a consent and preference management system returns an estimated £38.
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