This can be a handy update for consumers to have more influence over their ad experience. Moreover, brands can display relevant ads in alignment with the dictated consumer preferences and personalize communications.
Privacy and personalization have often been considered at odds. But the arrival of such consent and preference management solutions gives marketers the opportunity to shift to a privacy-first and customer-centric approach.
With the proliferation of ad platforms and media, it’s clear that consumers want to see relevant advertising tailored to their interests and preferences. And this move from Meta aims to simplify ad preference management from a single place.
The new account centre will empower consumers to fine-tune their topical interests. Besides, users will also be able to view how it correlates to the ads being shown on the platforms, making them more open to sharing their data.
This is several notches above consent-led opt-ins, as it enables marketers to communicate according to the customers’ actual stated preferences. Such data, offered voluntarily by the customer, is also called "zero-party data." Needless to say, it is the strongest kind of first-party data a brand can hope for.
Perhaps, marketers can take a cue from Meta’s move to consolidate and maintain user preferences in a central hub. This can be a reminder for companies to review and implement their data privacy policies by embracing preference management to maximize transparency and brand credibility.
Teams that are unable to embrace preference management in their customer experience strategy may, alas, risk losing market share to competitors that do.