Wednesday, July 2, 2014

Framing the Decision: Build vs. Buy - Part 3 of 5

A five-part series about making the case for preference management


With the need for preference management established and its benefits defined, many organizations face a growing dilemma of awareness –
is it something we must engage a third party to implement or can we build it internally? 
It’s a complicated but necessary question that should include each of the considerations listed here:





Consideration In-house Outsourced
Subject matter expertise What resources do you have in-house? EPM providers think about preference management every day from all perspectives; customer engagement, privacy, technology
Are resources available?
Is there a risk that they will be pulled off the project?
If you have in-house resources, are you willing and able to commit them to this project on an ongoing basis to implement and maintain the system?  Resources are available and have experience implementing and maintaining preference management solutions with both feature updates and compliance requirements.
When do you need it deployed? Design, development and deployment can take 2 to 3 years. Have you created a timeline for this project? Typical deployments take 1 to 3 months
Can you absorb the expense? Large up front capital expense of $3 to $5 million is common.   Have you estimated the cost of your project? Typical implementation fees are relatively small since the solution is built out.
Are your systems designed to house and archive customer preference data? CRMs, Marketing Automation, Marketing Databases – No Preference Management - Yes
Can you centralize your preference data?
?
Yes
Can it be designed to easily setup new programs?
?
Yes
Can you develop an API toolset to share data across the organization?
?
Yes
Can you develop configurable reports?
?
Yes
Can you develop validation and alert process?
?
Yes
Can you develop comprehensive data collection and delivery?
?
Yes


Executed correctly, a robust preference management program can power the personalization, privacy and interactivity modern consumers demand.




Eric Tejeda is the Director of Product Marketing for PossibleNOW and CompliancePoint. Eric supports the organization’s growth objectives by productizing and launching innovative new products and services that fill critical needs in the marketplace. 

With 25 years of experience, Eric firmly believes that permission-based marketing and preference management is a mega trend and the path to success for marketers today. 

Follow me on Twitter: @EricTejeda | Connect on LinkedIn: Eric Tejeda

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