For most companies, a preference center is a basic data storage portal that visitors use to inform suppliers of their preferred communication requests (based on a limited selection of choices), which may include a choice to opt out of all future marketing communications. Typically, little time and few resources are invested in preference centers. Personal privacy regulations introduced by governments around the globe, in conjunction with a greater awareness of personal privacy, are elevating the importance of a comprehensive preference management strategy. In this report, we provide a justification for making preference management investment a high priority, along with key strategy components.