The General Data Protection Regulation (GDPR) has finally come into place, bringing with it a breath of fresh air into inboxes everywhere. Leading up to the 25th May we were swamped with emails, notifications, and text messages from companies we’d forgotten we’d signed up with, each trying to get us to stay with them.
This regulation has essentially pushed the reset button, with customers being able to choose who they want to be on their team, and brands itching to be picked. Below are some of the reasons why the GDPR is possibly the best thing that will happen to marketers this year.
While the GDPR gives marketers the opportunity to rethink and reinforce what their brand stands for, along with the value it delivers to their customers, it also forces alignment among other aspects of the entire organisation, such as marketing, IT, commercial and operations. With the GDPR, customers are very much in the driver’s seat of the future of your business.
Marketers Have the Power
Despite all the data still being generated by customers day-in-day-out, data is no longer the free-for-all bag that it used to be. The GDPR has put a stop to this, reminding marketers that holding and using customer data must be balanced properly by revenue and profit. Unlocking the value from data is where marketers come in.
Value of Customer Data
The GDPR will strip down the value of customer data to the bone. Once the data fog has lifted, the number of contactable customers may be a lot less than expected – potentially millions less. This may seem like a bad thing but it’s a question of quality over quantity. With this reduction in customers, a clear path to creating customer growth and cross-sell plans is presented without having to justify imaginary numbers.
GDPR Day is Everyday
While GDPR day may have made it feel like a level playing field with the main obstacle now being overcome, this, however, is not the case. In the long-term, certain brands will swiftly emerge and rise to the challenge of the post GDPR landscape, with the winners being the ones that stick to their customer plan.