Having been in the advertising industry for more than 25 years, Ian Oswald, Managing Partner at full-service agency, The Works, has seen laws and data protection regulation change over time. Here, he discusses the new General Data Protection Regulation (GDPR) and how it's a great opportunity for marketers to create new, compliant databases
Recent GDPR headlines have created unease amongst many businesses by heavily focussing on non-compliancy and dwelling on extensive fines that could be potentially levied against those who do not comply. However, while the new regulations do pose a challenge, there are also many opportunities available to marketers who have the appropriate strategies and procedures in place when preparing for GDPR. As the new GDPR regulations come into place in May next year, us as a business and many of our clients have already started to put into place processes to implement the new regulations. GDPR will make companies more responsible for documenting how they collect personal data, how consent is given, how the data will be processed, stored and shared and also the right to be forgotten’- ensuring it is as easy to remove consent to use data as it is to give it.
After recent misuse of data and data breaches by high profile companies, consumers can be forgiven for being concerned about the security of their personal data and how it is used. So, what do you do with the data you currently hold? An information audit is a good place to start, by identifying and removing duplicate customers, those who have not engaged with recent communications or those who have not given explicit consent to be contacted. This will inevitably result in a reduction in data records which may be alarming for some companies. However, the cleansed data will be of a higher quality allowing marketers to engage with a customer base who are genuinely interested in their company.
On the other hand, some clients see it as a great opportunity to create new, compliant databases by deleting any current records they hold and instead investing in attracting new customers through new business marketing campaigns. Creating marketing campaigns that consumers engage with is essential in the bid to gain personal data. Be more innovative with digital campaigns and use new technology to increase customer engagement. The use of augmented reality is a media that we are working on with a number of clients as it offers more than just run-of-the mill content. Whatever your campaign, make the customer want to know more about your products and they will happily give their consent to receive more information from you. Investing in both, or either, of the strategies above should provide companies with robust databases that are compliant to use in their marketing communications and the confidence that customers are happy to receive the content in them.
GDPR emphasises accountability when it comes to the use and storage of data so by demonstrating that you are adhering to the new regulations in collecting data responsibly and outlining security measures in place, businesses can start to improve trust with customers. This will provide a valuable return for marketers, from increased customer satisfaction to the emergence of clearer buying patterns leading to up sell or cross sell opportunities and most importantly, a potential increase in market share and reduction of marketing waste. By appreciating the opportunities that come from being compliant rather than focussing on the negatives of GDPR, marketers can seize the opportunity to engage with customers in a positive way.
All in all, GDPR poses a challenge for businesses and although it may take some time to settle into a new way of working, once over that hurdle, it’s the start of a new relationship with their customers and one which could see great benefits for both sides.
To find out more about what we do and how we can help you, visit wearetheworks.com or follow @wearetheworks
