Data has long been a workhorse – serving a multitude of purposes across a single organization, ranging from tailored advertising to revenue generation. As a result, managing and complying with customer data preferences is often a nearly impossible task. This is where a consent management platform (CMP) can be your workhorse’s workhorse – providing the foundation to ensure data compliance based on evolving regulations.
In the face of mounting but patchwork privacy legislation across the United States and Europe, more companies than ever before are finding themselves in search of a consent and preference management (CPM) solution. Unsurprisingly, the market size of CPMs is exponentially growing. These platforms help businesses of all sizes remain compliant while they build a framework that delivers a consumer-centric experience based on trust. The effects can be powerful, and those who ignore the opportunities risk legal consequences and PR nightmares.
Let’s cover the ins and outs of consent management platforms: answering the question "why is consent management important" before addressing how to find a platform that will work for you.
Consent management platform requirements
When it comes to respecting privacy, consent is the first step.
So, first things first — what is consent management? Consent management is the process or system that allows customers to determine what data they feel comfortable sharing with a business. For example, if your company uses third-party apps, you'll need the user to consent to cookies.
Today's privacy regulations require you to obtain users' consent before collecting and using their data. Unfortunately, many businesses use outdated consent management platforms. These companies might think they are protecting themselves and their users. However, their cookie consent management system often no longer meets current requirements.
Since it is your responsibility to remain compliant and up-to-date, understanding consent management platform requirements is essential. These platforms can help you with a range of content management use cases, ranging from the needs of financial companies to those in the manufacturing industry.
Consent management platform requirements include:
- The ability to capture insights into what customers want concerning the use of their data. Are they comfortable offering their data for analytics? Advertising? Both? A platform like Ketch can help you seamlessly sort through the noise, ensuring consent preferences are met based on purpose-specific data controls.
- The option to set privacy choices across all devices, interactions, and platforms.
- The ability to enforce privacy choices across your data ecosystem.
Learn more: 3 requirements for effective consent management
Free consent management platform
If your website processes visitors' personal data, you need a consent management platform — but how do you choose between a paid vs. free option?
The answer depends less on the cost of the platform and more on the features provided. For example, does the platform offer cookie consent, policy management, mobile app consent, privacy requests, etc.? If so, it will give you the support you need from a privacy tool, especially when developed by a company that specializes in privacy compliance and management.
Are you looking for a free consent management platform? Ketch Free offers comprehensive tools to help you respect consumers' rights to privacy and data dignity. When opting for this complimentary choice, you benefit from:
- Future-proof data privacy compliance, including CCPA/CPRA, GDPR, etc.
- Access to a flexible preference center that maximizes customer control.
- Tools for creating pixel-perfect banners to deliver notices and disclosures across web and mobile applications while recording user consent.
- Quick, seamless deployments, thanks to templates and privacy language.
When you require more features, you can always opt for the next step up, benefiting from options designed for enterprises and developers.
Read more: Explaining Ketch Free: a free consent management tool for privacy compliance
Consent management platform comparison
You'll want to run a consent management platform comparison when aiming to find the right consent management tool for your business. Which features matter most to your business based on your present and future goals?
When comparing, revert to the requirements listed above. Also, consider whether you want a standalone consent management platform or an integrated option. The latter helps businesses save time and money because everything is in one stack.
Here are some options to consider.
Ketch
As Ketch says, anyone can collect consent, but when leveraging its consent and preference management platform, you benefit from enforcement too. Unlike most consent capture platforms, Ketch helps protect your business from risk while building customer trust. Through the power of APIs and a coordinated set of applications, Ketch collects and implements privacy choices across all vendor and internal systems.
This fast, easy-to-deploy privacy system includes everything needed to deploy responsive, identity-aware consent and personal preference management for your business.
Cost: $0 with Ketch Free
TrustArc
TrustArc will help you scale your global cookie compliance while personalizing customer experiences at scale. Like Ketch, it has some great features and focuses on GDPR, CCPA, and other privacy regulations. However, it does not offer APIs, reducing the level of integration and customization.
Cost: The basic version is free. For more features, you'll need to request a quote.
OneTrust
With OneTrust, you can capture user consent to understand preferences better. This process will allow you to develop more effective campaigns based on personalization and segmentation. While this is a popular consent management platform, it won’t enforce consumer privacy choices in downstream systems which puts your compliance and your customers' privacy at risk.
You can compare Ketch vs. OneTrust here.
Cost: You can access a free trial and then build a paid plan based on your needs.
Want to learn more?
Read the following resources:
Have questions? Contact us to discover the possibilities today!
