The changes in GDPR (General Data Protection Regulations) will have a significant impact in marketing approaches in 2018. Here are the key insights into what this legislation means for marketing experts and companies.
What is GDPR and why should I care?
GDPR are the General Data Protection Regulations. These regulations pose strict limitations to how marketing is carried out, most notably the use of personal data. Fines for non-compliance are substantial, up to €20 million or 4% of global annual turnover. This revised legislation comes into force in May 2018 and it is worth being ready for it.
How will it affect my email campaigns?
Individuals will need to have willingly decided to sign up to receive your marketing emails. Providing an opt-out button in emails will no longer be enough. This will be enforced equally for both B2B as well as B2C communications.
How will it affect the marketing data I store?
Anyone added to your database must be willingly signed up to receive marketing materials. Additionally to this, companies will need to be able to record and prove how consent to direct communications was collected.
How will it affect the way I collect leads?
The legislation in spirit is attempting to ensure that people only receive the marketing messages that they have explicitly requested. This means that individuals have to sign up to receive marketing messages, without being coerced into doing so. One example of this is a form with a pre-ticked box to receive marketing materials; this will be against the new regulations.
How will it affect my current contact database?
In future, companies must clearly explain why they are contacting each person, how they have sourced their information and not assume the consent to contact them has been given. Many companies are in the process of collecting confirmed consent from their current contact lists. This does result in a reduced list however if done effectively will increase the quality of that list. It is important to start planning for this sooner rather than later, a slap-dash campaign will not get the sign ups you need.
Will it matter after Brexit?
Although it is EU legislation, it is expected to come into effect in Britain in May 2018.
What will be the impact of this?
This legislation will have an impact on the way data is collected, stored and used. Some companies that have started to make the change have already seen a notable reduction in their lead generation numbers. However, there is speculation that the leads they have collected are better quality.
The legislation will also have an impact on data purchase opportunities. The impact will be most difficult to overcome for small and growing companies wishing to expand their audience who do not have the in-house capacity to increase their presence in other ways.
There will be an increased emphasis on quality content both on websites and in direct marketing as a way to combat this and encourage genuine sign ups.
We will be releasing more information and tips over the coming year. We will also be providing consultancy to support companies in tackling this change.