Introduction
In this 3rd blog post on navigating the FCC's explicit consent, we’ll draw insights from how the legacy brands have been pivoting their customer acquisition strategies to reach their marketing goals by running campaigns that are already compliant with explicit consent. Matt Curtis, who leads media strategy at ADT, and Gabe Allen, the CEO of Royal United Mortgage, have extensive experience in the industry and will provide valuable insights into how their companies have always been compliant with explicit consent in their own respective strategies.
This blog is based on the third session of the webinar sequence, ‘Navigating FCC Regulations on Explicit Consent,’ which we recently hosted together with Verisk Marketing Solutions.
Recap of previous sessions
In the first session, we reviewed the proposed and accepted changes that will be implemented in January 2025. Michelle Schuster also joined us to provide a detailed breakdown of the legal implications of these changes. You can read more about it here.
In the second session, we delved into how technological solutions like Brand Explicit Consent can simplify and automate the FCC's implementation of these updates. We explored different consent capture scenarios that our solution supports and can integrate with your workflows. Dive deeper into our blog from Session 2.
Some core topics that we’ve covered in terms of what we expect to change in the customer acquisition landscape as a result of these updates are:
Best practices from ADT and Royal United Mortgage on compliant customer acquisition
ADT and Royal United Mortgage provide industry-leading examples of how legacy companies can adapt to and thrive under the FCC's explicit consent requirements.
ADT's customer acquisition has three core pillars: branded flows, diversified engagement channels, and a foundational emphasis on transparency and trust. ADT has always taken a conservative approach to customer acquisition by largely moving to branded experiences and consolidating TCPA language across the board. This helps mitigate any compliance risk to a large extent. By concentrating on branded, exclusive customer acquisition, ADT guarantees that each potential customer has given explicit consent before any contact is made, significantly enhancing the quality and conversion rates of these leads. Understanding the importance of customer preference, ADT offers a wide array of engagement channels, from online platforms to in-person interactions, ensuring that consent is informed and respected at every point of contact.
The idea is to meet the consumer where they want to be met. Consumers don't want to speak to multiple providers on the same query, so the shift to branded experiences was initially based on respecting consumers' consent to contact and elevate the whole experience for a consumer right from the inquiry stage. Some consumers may want to purchase fully online, while some might want to submit the lead form and then talk to an agent, and some might want to schedule an appointment for a home visit. The idea is to offer as many paths as possible for the consumer to interact, get their questions answered, and follow through to a purchase stage.
One key outcome of this is higher answer rates by prospects because hundreds of calls do not wear them down. Giving the consumer multiple paths—inbounds and e-commerce—gives the consumer the option to meet us where and when they want and deliver the conversion that we want. If consumers know who is calling them and the expectation is set, it leads to a better experience for them.
Royal United Mortgage's approach is to pay close attention to manual dialing, a transparent consent process, and proactive compliance measures. By adopting a strategy that prioritizes manual dialing, Royal United Mortgage ensures that each customer interaction is deliberate and rooted in explicit consent, emphasizing the importance of personalization and adherence to regulatory standards. The clarity and straightforwardness of their consent process are designed to eliminate any potential confusion, thereby upholding the highest levels of customer respect and privacy protection. Beyond merely meeting existing regulations, Royal United Mortgage takes a forward-looking stance on compliance, actively preparing for potential future regulatory changes. This proactive approach not only demonstrates their commitment to responsible business practices but also establishes Royal United Mortgage as a leader in the industry, dedicated to both customer satisfaction and regulatory foresight.
Shared vs. exclusive leads
Shared vs. exclusive leads is also an interesting perspective that was discussed in our webinar session. Historically, for more well-established brands, it made sense to do exclusive leads and play on their brand recognition and presence, but for medium-sized companies, which probably do not have a widespread brand presence, it made sense to go for shared leads, which are cheaper.
However, with FCC regulations, exclusive leads might become more and more relevant, with more and more brands making the shift. We are heading towards an enviroment where the brand name becomes more important than it ever has, if your brand is less well known to the consumer, they might actually not opt for consent to your brand while submitting the lead form. ADT sees a 3-5x yield on web leads after shifting to exclusive leads at every point in the process (contact rate, conversion rate, etc.), leading to gains at every step of the journey. It is not just consumer experience; it also contributes to a significantly better rep/agent experience- better contact rates, better transfers, etc.
Our speakers share the perspective that the value of a lead is determined by how efficiently we can reach out to it and convert it into a customer. Exclusive leads bring a lot of efficiency to the whole funnel for all parties involved and, hence, are more valuable than shared leads.
Conclusion
In conclusion, the FCC's explicit consent rulings have set a new standard for customer acquisition practices, emphasizing the importance of transparency, customer respect, and privacy. Legacy companies like ADT and Royal United Mortgage showcase how adapting to these regulations can not only ensure compliance but also enhance customer trust and improve lead quality. Their proactive approaches—ranging from innovative consent collection methods to enhancing customer experiences—highlight a path forward that values ethical engagement and personalization at every step of the funnel. For the customer acquisition industry, this represents an opportunity to evolve and adopt more customer-centric strategies that align with today’s regulatory environment and consumer expectations.
Engage with us
If you have any further questions on this topic or would like to collaborate with PX, make sure to get in touch.
Curious to explore the full webinar series on Navigating FCC Regulations on Explicit Consent hosted by PX and Verisk Marketing Solutions?