The EU GDPR law protects the data privacy of citizens across Europe. Any violation of GDPR affecting the data subject can lead to the imposition of a fine up to 4% of the global revenue of the company. In light of the various data privacy scandals over the years, the most recent and outrageous being Cambridge Analytica, the need for GDPR across the world seems essential.
What exactly does GDPR mean though?
Not only will people have more control over their personal data but the playing field between consumers and businesses, and small and big businesses will be level. GDPR will demand transparency from companies on the use of the data they obtain and thereby protect consumer rights to privacy. It will give back to the consumers the right to data correction, the right to be forgotten or erasure of their data, notification on data endangerment and the right to restrict processing. It also requires explicit consent requests.
The impact on the Marketing world
With the rise of digital marketing that relies quite heavily on data to strategize and improve customer experience and brand engagement, GDPR can greatly stunt the growth of the industry. The laws would mean that marketers would not be able to access and use data as freely as they could before.
Here are 3 tips to be GDPR compliant:
1. Honesty is the best policy
We’ve all learned it as children. The more transparent you are with your consumers, the less likely you are to end up in an ugly situation. Every time you are obtaining data from your consumers, inform them of the purpose of this data: what will this data be used for, when and how often will it be used?
2. Who’s in charge?
Having a person responsible for worrying about GDPR and the legalities involved decreases the chances of having a scandal on your hands. By hiring a Data Protection Officer (DPO) who would be familiar with the intricacies of the GDPR laws, you would ensure that you don’t slip up.
3. Rig alarm bells
For instance, Cambridge Analytica through a loophole was able to use Facebook to access the information of more than 87 million users and create voter profiles for the 2016 elections. Set alerts for when your data is used and where. If any unauthorized attempts are made to access your database, ensure that you know then and there. The more you are prepared, the less likely you are to be caught by surprise.
Businesses are yet to be accustomed to GDPR but there’s no doubt it has been introduced in the best interest of the consumers. Considering that consumers are the backbone of a successful business, in the long run, GDPR enforcement can possibly lead to healthier and long-lasting brand engagements.