In early March, as part of an overall webinar titled New EU Policies Will Transform Business Practices across the Organization: Get Ready for the GDPR, I had the opportunity to deliver a mini-presentation on how marketing will change once the GDPR goes into effect on May 25, 2018.
Imagine just one year to ensure compliance? It seems a year is a lot of time but in reality it isn’t. And if you think this only applies to EU firms, remember that this affects any company processing the personal information of EU citizens.
The purpose of this blog is not to provide exhaustive detail about the extensive regulation, but to remind you of your options, and to provide thoughts and considerations for marketing personalization under the GDPR. With any regulation, organizations can make one of the following decisions:
- Ignore it – Ignore the GDPR and continue to provide customized offers without consent
- Avoid it – Cancel specific marketing programs; we just can’t do these anymore
- Embrace it – Find a better way and implement tools to drive marketing content including upsell/cross selling
Logic tells me that you will select embracing this regulation and as you are going through your change cycle you will get to stage 5 – Understanding to Awareness – quicker than you imagine.
So in other words, you will need to disrupt yourself in order to embrace the change.
Customers Want It
With that being said, let’s talk about specifics. A recent study found that 90 percent of consumers have privacy concerns, but seek highly personalized and tailored customer service. Personalization is key to modern customer experiences and customers will make purchases and loyalty decisions based on the level of individualized service they receive.
In order to continue to deliver personalization within the realm of GDPR, marketing must continue to develop the appropriate campaigns, messaging etc. to their target audience, keeping in mind that the audience has provided the appropriate consent.
CX is Worth It
Delivering a seamless and connected Customer Experience is becoming the most effective way to market your products and services. Marketing tactics we all embraced 10 years ago have been replaced with the internet of service ushered in by social media over the past 5 years.
This suggests that good customer service is now at least as valuable as good marketing. Or better stated, good customer experience is good marketing. Today’s consumers don’t want to be sold to; they refuse to yield the power. The unique selling proposition has been replaced with the unique buying proposition. The table has completely turned.
I encourage you to visit the resources below to learn more about GDPR and how we can help. The first resource contains a recorded webcast as mentioned above that you can view and learn at a high level what the GDPR is and detail about the regulations. In the webcast, I provide a brief presentation titled GDPR and the Future of Marketing. Pay attention to two areas that I cover: 1. Personalization with Consent and, 2. Consent Driven Personalized Experiences.
The second resource provides a GDPR overview, information regarding how our solutions can help with the GDPR.
Finally, the third resource provides information on our customer experience management portfolio.
We will continue to provide additional information to help you prepare for the GDPR. May, 25, 2018 seems a long way off but time does fly by and you need to be ready.
Until next time…