The much-talked about GDPR is soon to become a reality in under 100 days. According to the EU, the aim of GDPR is to "harmonize data protection laws in the EU to ensure they are fit for purpose in the digital age." So how does this really affect organisations, and more specifically, how can marketers continue their role successfully and feel confident that they are not breaching any regulations?
Our digital economy with its' proliferation of devices, IoT and Artificial Intelligence creates an ever-increasing flow of data. Even on a personal level, I find managing my own data challenging at times, and the level of planning and strategy required to stay compliant with the data deluge at an organisational level is no easy task.
Marketing is much more focused on an inbound approach now, which means constantly working to improve the customer experience at every stage of the buyer journey. Ultimately, we strive to create a personalised experience which drives customer loyalty and long term relationships. Achieving this involves data and analytics at every step of the way; customer profiling, churn analysis, basket analysis....the list goes on.
Whilst GDPR is focused on protected citizen's data in Europe, any global organisation located outside of Europe with customers in Europe is equally bound by the new legislation. Non-compliance will result in hefty fines which could potentially be very damaging for business.
Is it possible for organisations and their marketers to become a successful data-driven business given the complexities of GDPR?
Thankfully, there is a rich source of valuable information available online. I thoroughly recommend a read of this post by Marketing Week "GDPR: Five questions marketers must answer before May".
As every marketer should be well aware, the new EU General Data Protection Regulation will be in force from 25 May – just over three months from now. Marketers have had plenty of warnings about the penalties for breaching GDPR, and plenty of optimistic reassurances about the opportunity for improving customer relationships. But what are the most important things they actually have to do to ensure their use of personally identifiable information is within the law? Marketing Week asked two experts in the field for their views on what marketers should be prioritising right now, to stand the best chance of being compliant by the deadline. This guide doesn’t constitute legal advice, but is intended to be the most useful and practical summary of responsibilities that marketers will get before the transformational new regime comes into force.