In this post, I’ll share some benefits of the GDPR for your business and your customers. What is the GDPR? So if you are a business with customers in the EU, the GDPR will be applicable to you when you are handling personal data of your EU customers. Why the GDPR is beneficial to your business If you have read the regulation or started preparing for it, you might notice that it requires some effort to be fully compliant with the regulation. Organic social media marketing Organic social media is probably a big part of your role as a social media marketer. This is because most organic social media activities such as posting content and engaging fans do not collect personal data from people who view or engage with it. Paid social media marketing (or social advertising) Under the GDPR, if you want to use your customers’ data or track their behavior for advertising, you must obtain the legal basis to do so. That is, you have to obtain an explicit opt-in consent from your customers. Several social media advertising features use customer data that you upload, collect personal data, or track behavior on your site. As you would be collecting data through lead forms, you’ll need to state how the data will be processed and establish a legal basis (e.g. consent) for processing the data.
Up to €20 million…
or four percent of your total worldwide annual turnover of the previous financial year, whichever higher.
That’s the penalty for failing to comply with the General Data Protection Regulation (GDPR), the EU’s new data privacy law.
Okay, sorry to start this post on such a heavy note, but the GDPR is very important to comply with. And not only that, I believe that the new regulation is something we should fully embrace as I can see it bringing around positive changes that could be beneficial to both customers and businesses.
In this post, I’ll share some benefits of the GDPR for your business and your customers. I’ll also cover several key things to note for social media marketing.
Disclaimer: This is my personal understanding of the GDPR based on my research and only covers social media marketing. To ensure that you’re in compliant with all aspects of the GDPR, you should consult your legal advisor.
What is the GDPR?
The General Data Protection Regulation (GDPR) is a new data privacy regulation that aims to give individuals in the EU protection and control over their personal data. This affects how businesses can collect and use personal data.
The regulation will be enforceable from May 25, 2018.
While it is an EU law, it is applicable to any organization with personal data of EU citizens and residents. So if you are a business with customers in the EU, the GDPR will be applicable to you when you are handling personal data of your EU customers.
Why the GDPR is beneficial to your business
If you have read the regulation or started preparing for it, you might notice that it requires some effort to be fully compliant with the regulation. But I think there are several potential wins for your business:
- Greater trust: Your customers will know what data of theirs is collected and how it will be used.
- Better email engagement: Only people who are interested in and who choose to opt-in to your email will receive your content.
- Improved marketing experience: With stricter regulation on the use of personal data for marketing and advertising, consumers will likely have a better experience while surfing the internet (and hopefully become more receptive). This will benefit all businesses that do online marketing.
And these are just from the marketing perspective. For more benefits that being GDPR-compliant can bring to your business, check out this article by Michael Fimin, CEO and co-founder of Netwrix, an IT security software company.
How the GDPR will benefit consumers
Besides benefiting your business, the GDPR is also favorable for your customers in many ways.
- More privacy: Businesses are required to collect and process only personal data that are necessary for each specific purpose and implement measures to protect personal data.
- More security of their personal data: With stricter rules on collection and processing of personal data, there would likely be fewer data breaches such as the recent incidents.
- More control over their shopping experiences: Consumers will be able to decide upfront whether they want to receive marketing emails from businesses or whether they want their website behavior to be tracked for analytics and advertising purposes.
For example, visitors on mailchimp.com can now customize their cookie preferences.