GDPR – Why is it a good thing?
With the looming deadline for the General Data Protection Regulations (GDPR) now only a couple of months away (25th May 2018), businesses are frantically trying to get their heads around the new legislation. There has been a lot of scaremongering and so many news articles, seminars, presentations and workshops about the new regulations with worrying statistics and consequential fines. It is important to remember that being GDPR compliant can bring so many benefits, not only for your clients and potential clients but also for your business.
Here are our top GDPR benefits:
1. Attract real contacts with more accurate data
The days of buying data lists will be long gone but having opted in permissions to send your marketing communications can only be a good thing. If prospects or existing clients have opted in, then they are interested in what you have to offer as a business and if they are not already a client, there is greater potential for them to become one. This could also be an opportunity to look at your overall marketing strategy and how you attract subscribers to your channels. Can you add lead magnets to your social media and website, add more content and blogs, giveaways to get interested individuals to sign-up? For example, subscribing to download a free guide, webinars, offers or price guides. This way you are targeting people who already want to know more about your product or service.
2. Create targeted campaigns
GDPR will allow you to send more targeted campaigns to your subscriber list. As individuals have more power over their information, you will be able to more accurately segment and target their interests, in turn leading to higher conversion rates. It also gives you the chance to cleanse, update and manage your data.
3. Compliant GDPR organisations will be ahead of the game
Being compliant from the start could create a competitive advantage by improving your reputation as a safe manager of data. Having clear, transparent and accessible information on your personal data processes will only lead to more client confidence and longer-term loyalty.
4. Being Cyber Safe makes it easier to avoid bad PR
Being cyber safe and letting the outside world know that you are, creates a safer reputation for your business, reassuring and attracting clients as well as reducing the risk of cybercrime. There are also cybersecurity accreditations that you can undertake to reassure customers that you work to secure your IT against cyber-attacks and have appropriate and robust cybersecurity measures in place.
If you still haven’t got your head around GDPR and haven’t started to plan or implement the required steps, a good starting point is the ICO website and follow their guidelines and very useful templates.