GDPR has been enforced on 25th May 2018, companies using the data of European citizens for their marketing efforts will have to comply with the new GDPR rules going forward. The risk of non-compliance is big including penalties up to €20 million or 4% annual global turnover – whichever is higher. So GDPR Compliance becomes the hot topic of the year.
What Marketers think about GDPR?
GDPR Compliance makes Marketers a bit nervous. Should they keep European citizens data in their database or delete? There could be a lot of questions arising in the mind of Marketers or database owners. So personally, I see it as an opportunity, not as a headache. Some consider it a headache but better understanding the flow of data in your business creates opportunities for improvements.
Since this is in existence now, so we will have to live with it. Therefore, rather than considering it as a headache we should consider it as an opportunity.
We would discuss three opportunities in this blog which will prove GDPR as an opportunity.
1. Audit your database - What data do we have? Why do we collect and keep it? For how long do we keep it? Where do we save it?
If you are able to answer these questions and find yourself with satisfactory answers then you don't need to worry about GDPR. The main thing to be considered is to obtain only the information from European citizens which is not critical and sensitive.
Generally, data should be kept in encrypted form and at a secured place. If we abide by this as well then we are in good shape.
2. Create Lead Flow Processes -
What happens to a European Lead when it enters into your database? What all communications can be sent? For how long a lead can be active for a particular type of communication? What happens if a lead requests for deletion from the database?
You keep inbound open for all so there are high chances of getting European leads into your database so there is a great opportunity in GDPR to create robust processes about the EU leads. Initially, each and every lead from Europe should be communication suspended until lead provides us the consent. We need to keep the timestamp of consent as well. We need to respect the right of erasure in which every European citizen has a right to get his details deleted from the database.
3. All data at one place -
Almost every other organization or every other department may have their own databases. So, GDPR gives us an opportunity to bring all of the data at one place. If we keep all data at one place that ends up saving a lot of money on storage and controllers (data stewards).
In the end, best of luck to all Marketers and happy MQLing.