Oil is no longer the world’s most valuable resource. Data is the most valuable resource.
“73% of people agree that in the internet age, you have to provide personal information to buy things.” – Data & Marketing Association
When the GDPR goes into effect on May 25, 2018, the personal data we use as marketers as defined by the EU includes any information that can be used to directly or indirectly identify an individual (or data subject). This means that everything from an email address, to a name, IP address, photo and more are included.
The other day I called my financial institution to get a home equity line of credit quote and the customer service professional toward the conclusion of the call asked if I would like to receive future specific communications regarding home equity lines of credit. I opted-in to receive specific communications. Even though I am not an EU- based consumer, smarter marketing practices is a good thing for all.
As a fellow marketer, here are a few things to consider as you prepare for GDPR:
Under GDPR consent must be explicit. Companies must be able to provide proof that an individual elected to opt-in to receiving specific marketing communications. Opt-in followed up with a click to confirm email is a great way to ensure consumers understand and are in agreement.
Data capture field and forms
With opt-in becoming a mandatory requirement, marketers must ensure any on-site forms (current and future) are in compliance. Forms must be deployed and hosted that complies with GDPR.
Opt-in consent requirements mean marketers will need to show evidence for opt-in for marketing campaigns, such as an opt-in from your tradeshow booth, or a follow-up email post-event.
Customer Relationship Management software (CRM)
Under the right to be forgotten, as everybody has the right to opt-out, this may affect the way you manage your CRM for example you would no longer be able to mark someone as “do not contact” – personal details would have to be deleted. It’s also worth checking the technology infrastructure to ensure that when requested, data can be removed from all related databases and platforms.
GDPR and marketing transparency
With the GDPR around the corner, marketing should not be an illusion for consumers. Give consumers transparency (be the good doctor). If a consumer understands why they are opting into your messaging and sees the value they will gain, a trustful relationship can take place, e.g:
- provide seamless and consistent experiences across all channels and customer touch points, eliminating the need for customers to repeat themselves
- tailor customer communications and pertinent offers to meet real-time consumer desires
- proactively gather voice of the customer feedback across all channels including social media, sentiment analysis
- provide timely, personalized follow-up where appropriate
GDPR is a looming mandate can also be an opportunity to gain competitive advantage with a winning strategy. Enterprise Information Management (EIM) solutions help control the acquisition, protection, retention, and disposal of personal information. With them organizations can be well-poised to ensure compliance as well as increase efficiency and customer loyalty.
Get a foothold on the GDPR. Watch this video to learn:
• new insights into GDPR provisions and customer expectations about data use
• how organizations can seize opportunities for competitive advantage under the GDPR
• tools for starting critical discussions with partners and internal stakeholders
Stay tuned for additional information as May 25, 2018 approaches!