In last weeks blog we explained what the GDPR is all about. They say change is the only constant, and the GDPR guarantees to bring a trunk of it and shake up the way we conduct digital marketing campaigns as we know it. Like most people, myself included, become temporary pessimists in the face of change and uncertainty until the dust settles around us.
But with most tidal changes, it also brings upon opportunities for those who are open to it. The regulations are well defined and establishing a clear understanding of these can ensure that you don’t get your business into trouble.
If the incentive of not getting fined up to $20 million Euro ins’t motivation enough, here are 5 more reasons to help motivate you in getting your business ready for the new legislation.
1. Improved Business Reputation
Following major data hacks on big banks, Hollywood operations and corporations across the globe, businesses and even officials have come to accept the fact that no database is immune from cyber security breaches. One way to ease uncertainty among prospective customers is to become certified as GDPR compliant. This would enhance your credibility as a secure platform for potential customers to conduct businesses online.
2. Being ‘Cyber Safe’ Can Mean Greater Customer Loyalty
Survey reports hint towards a strong correlation between businesses’ level of cyber security and the direct impact it has on customer trust and improved customer loyalty.
Therefore, being GDPR certified will indicate to customers that your company is ‘cyber safe’ first. Having a reputation for being conscientious towards data safety concerning customers personal details, will help boost your reputation especially from an online marketing perspective.
3. You Have More Accurate Data
Another key advantage for being ready is collecting clean data with improved levels of accuracy. Meaning, data stored in company’s databases are not only audited and cleaned out but also updated on a more frequent basis.
4. Required Data Protection Training and New Job Opportunities
The enforcement of the GDPR has put more emphasis on data control accountability and currently leaving businesses of every size with two options. Either to up-skill current employee to act as Data Protector Officers (DPO), or start recruiting specifically for the role. As a result, this will lead to a better understanding of data protection laws and best practice within your company, consequently leading to cleaner processing and handling of data. Dramatically reducing your organisations vulnerability to external cyber-attacks.
4. Greater Data Security Globally
Although the GDPR regulations focuses primarily on EU operations, it has provided a further layer of cyber security across the globe and a higher level of trust established between business and their customers. This is especially concerning the protection of data transferred to third-party companies outside the EU bloc. For third party companies to utilise protected data from the EEA, the company collecting the data need to ensure any third-party companies linked to their database comply with the regulations. As well as, notifying customers of the involvement of these third-party companies and their intentions regarding customers personal data.
In next week’s blog we’ll provide you with some helpful tips to get your business ready. If you have any questions about this or anything else Digital, contact the team.