Regardless of where your business is physically located, if your sales and marketing efforts target people resident in the European Union you’re (hopefully) already aware of the EU’s General Data Protection Regulation, or GDPR, and its implications for your business.
If you’ve read any of the scare stories over the past few months, you could be excused for thinking business owners across the globe are collectively soiling their Calvins about the implications of GDPR, which comes into effect from May 25th, 2018. As with most legalization, the facts about GDPR are less terrifying than the clickbait would have you believe.
But GDPR is not some tech-centric regulation compliance mumbo-jumbo to be palmed-off to the IT department to deal with (and blame when the excrement hits the air-conditioner). GDPR isn’t like having a cookie disclaimer on your website. Depending on your particular business, it could be a pretty big deal. However I’m not going to go into the weeds about how GDPR may impact your own internal business processes or governance structures. There’s plenty of information online outlining the implications and obligations to businesses large and small.
What I’m interested in is how GDPR affects business marketing – for better or worse.
Why Do We Need GDPR? Because Of Crappy Marketers
The vast majority of GDPR concerns the way companies use, protect, store, and keep personal customer data. Not only does it fundamentally change what marketers can and cannot do with data, but it will penalize companies that misuse that information. Oh, and we’re talking about pretty sizable penalties here – up to €20 million (around $23 million) or 4% of a company’s annual turnover (whichever is the greater) in extreme cases.
So how did we get here? Why do we need the GDPR? The answer is simple: Because of all of us having to deal with crappy marketers doing crappy marketing for the past decade or so.
Today’s model of evermore intrusive online tracking, surveillance marketing (euphemistically referred to as “retargeting”), programmatic advertising, etc. is unsustainable in the long term, and just plain creepy in the short term. Marketers are abusing consumer rights of privacy on a daily basis, and vendors of adtech-driven systems are just plain lying to their customers about the reach and effectiveness of their ads. With all this shenanigans going on it’s little wonder that the use of browser Adblockers grew globally by 30% in 2016, and today are installed on over 600 million devices worldwide.
But such tracking mechanisms aren’t just used to show me Amazon ads when I’m on Facebook. They can be used against democratic societies by nefarious organizations. User tracking data has been used to influence voter behaviors and – yes – even opinions by malevolent politicians and even governments.
That’s why we need the GDPR, as well as legislation like it.
With GDPR in place, any consumer resident in the European Union has the right to Go to the full article.
Source:: Business 2 Community