Plus 3 Benefits GDPR will bring to your Business
The countdown is on, the new GDPR regulations come into force on May 25th 2018. For those who don’t know what GDPR is… it’s time to start paying attention. GDPR (General Data Protection Regulation) is all about data privacy. The GDPR Report States “GDPR aims to make data processing more transparent and give data subjects greater control over how their data is handled.” There’s no question about it, the way your business handles, processes, stores and uses data will be changing! It’s time to act now. Just like GDPR, the financial implications for not becoming GDPR compliant are not something to be ignored either. Non compliant companies will have to shell out either 4% of their annual turnover or 20 million Euro, whichever is greater.
See full guidance on GDPR.
You might already be thinking what an absolute headache this new legalisation is, but don’t get too down about it, there are some benefits to be gleamed.
1. Accurate Data
It’s a chance to clean up your data. No doubt you have been thinking about doing this for months if not years on end, yet it’s always a task that seems to get thrown to the bottom of the to do list. By carrying out a Data Audit you will be able to see exactly what data you currently hold and can organise it once and for all. You will become legally obliged to delete any data that you no longer need and confirm that the data you hold is accurate.
2. Pro Active Marketing Database
Create a marketing database that actually want to engage with you. Up to now you might have been sending out mass emails or advertising campaigns to thousands of contacts and possibly getting a very low response rate. Under the new legislation as of May 25th you will only be able to market to those that have OPTED IN to receive your emails. With these new rules the majority of most businesses marketing data is going to have to be deleted. Start building a new database of contacts that have OPTED IN. Just think, your new database will have agreed to receive for example monthly newsletters or perhaps special offers from yourselves and are therefore actually interested in what you have to say or sell. This database is going to be much more likely to engage with your business and ultimately convert into a paying customer. Although, your database is likely to dramatically reduce in size, your conversion rate is likely to increase.
3. Great Credibility
If you need assistance with any of your GDPR compliance in regards to your website or marketing activities, then start a conversation with Carrick today.