Stop Whining, GDPR is Actually Good For Your Business
GDPR = General Data Protection Regulation
- Is there such a thing as too much data?
- Data is power, but it is also a massive responsibility.
Marketing vs. Lawyers
Everyone is interpreting GDPR differently because it is in fact HUGE and confusing. Don’t be alarmed or anything, but experts say you are going to struggle.
The CAN-SPAM act came out in 2003 and people thought email was going to be dead for marketing.
GDPR gives us a single set of rules on data protection, valid across the EU. Companies will only have to deal with a single national data protection vs. 28 national data protection regulations.
You can’t just haphazardly grab information anymore. And buying email lists is not going to fly either, because you don’t have permission to use the information.
Better Consent Leads to Better Marketing
It’s a voluntary path for the consumer. They’ve given you permission to market to them.
- How old is your data and when was the last time you used it?
- 85% of data stored by companies is not being used.
New data protection process may reduce risk, and companies can take control of their own compliance. If you have a valid reason to send marketing and prove that it’s in the consumer’s interest, you don’t need permission. (Be very careful, though, in your determination of whose interest is being served.)
- If you screw up, 4% of your annual revenue or 20 million euro fine.
What happens Now? Honestly, No One is Sure.
- Information Commissioner’s Office (ICO) has a website has a lot of good information.
- Return Path’s website can assist as well.