The General Data Protection Regulation (GDPR) is said to be the most important change in data privacy regulation in the last two decades. Coming into force last May 25 this year, this newly-implemented regulation is set to revolutionize the way that business organizations process personal data of their customers.
Compared to the previous data protection regulations, GDPR is far more extensive in scope and application. While it is only in effect in the European Union, the nature of the internet practically enforces it to every company, since they could be dealing with clients from the EU at any time. This poses a high-stakes situation for customer data-intensive industries such as digital marketing, wherein customer profiles have been extensively mined and utilized to create personalized campaigns and brand messages.
Even years before the implementation of GDPR, numerous reports from experts have hinted the way it will impact the digital marketing industry. In 2016, Smart Insights said in an article that GDPR would push marketers to make significant adjustments in how they collect and store data, including the need for a capable CRM system with a storage function to keep consent forms from customers.
Promoting better data security is one of the core foundations of GDPR, so it only makes sense for digital marketers that target and track customers to invest in compliant technologies that will help safeguard their customer’s data. After all, these investments are only a fraction of the cost of what EU can levy for non-compliance – as much as €20 million or 4% of global revenues, whichever is higher.
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To better understand the topic, here are the key takeaways of the infographic from Digital Marketing Philippines, which details the different ways digital marketing will evolve due to the recent implementation of GDPR.
- Safer Personal (Customers) Data
- Putting Customers in Control
- More Compliant Marketing Tools and Technology
- Increase Usage of Contextual Advertising
To learn more about the ways GDPR will transform the digital marketing industry, read the full infographic below.
Embedded from Digital Marketing Philippines (original image source)