GDPR is considered a huge win for consumers and the new control they have over how their data is used. But when it comes to the articles, guidance and social chatter we’ve seen on what GDPR will mean for business, everyone’s talking burdens and fines.
Yes, the sanctions for non-compliance have significantly increased, but it’s not all doom and gloom. Complying with the new GDPR regulations is not only incredibly important, but also an opportunity to make some long overdue changes to your data processing practices and marketing strategy. Here are some opportunities that will arise out of preparing for GDPR.
Opportunity 1: An Up To Date And Engaged Email Marketing List
This means that anyone you automatically added to an email marketing list will now have to expressly opt-in to carry on receiving your emails. For those who have built their email marketing efforts on such lists, this may not sound like good news.
Yes, you may lose contacts from your email marketing lists. However, you will now have the assurance that the recipients you’re left with will be engaged, interested, and more receptive to your content. You’ll exclusively be reaching out to people who have recently interacted with your brand and expressly said that they want to hear from you.
We would predict that you should start to see a higher engagement rate for your email marketing. And while your contact list may be shorter, you’re a lot less likely to waste time and money crafting emails for people who will never open them.
And with the public receiving less unwanted emails in their email inbox, you would assume that this will have a knock-on effect on the chances of your email getting those important opens and clicks – as long as you keep giving them high-quality content!
Opportunity 2: Subtle Improvements You Can Make To Your Website
This is an opportunity to review all your data collection points – do you need so many? Are there any pages that would benefit from a contact form? Whatever your website’s main objective is, make sure your most visited pages are working as hard as they could be to drive those enquiries, downloads or sales.
Opportunity 3: Time To Get Creative
Gone are the days in which companies can get by on spamming thousands of contacts from bought lists. Our own Simon Badman has just published this blog about some of the marketing practices which will probably become obsolete after GDPR takes effect.
The new regulations mean that everyone will have to think more creatively about how they generate leads and keep existing customers engaged. Not only will this weed out the competition that resorts to these dodgy marketing practices; GDPR preparation is the perfect time for you to update your marketing strategy, perhaps placing more emphasis on social, SEO and PPC to drive traffic to your website.
Opportunity 4: Finally Getting Your CRM In Order
The possible fines for non-compliance with GDPR are admittedly eye-watering, but they mean that your data processing practices now warrant attention at a board level.
This means you’re now in a better position than ever to put forward your case to get budget for a better CRM system or get the resource signed off that you need to cleanse the customer data you have. Data cleansing is often one of those tasks that get put off; dismissed as important-but-not-urgent – now it’s both!
This is a perfect opportunity to review and restructure your customer data. By complying with GDPR and only storing necessary, up to date personal data, you will improve your company’s ability to maintain good customer relationships, improve your organisation’s overall efficiency, and any insights you can draw from your customer data will be more accurate too.
Disclaimer: This material is provided for your general information and is not intended to provide legal advice. To understand the full impact of the GDPR on any of your data processing activities please consult with an independent legal and/or privacy professional.