Since the EU’s General Data Protection Regulation (GDPR) kicked off on May 25, 2018, any business that processes personal data of EU-based individuals has had to rethink their practices.
Many organizations are on this journey to comply with the GDPR, which regulates the security and privacy of an individual’s data. With this legislation affecting companies all over the globe, and the recent news of California’s similar restrictions, it’s never too late to start on privacy compliance and to better understand GDPR as it relates to your business.
Here's a roundup of eight recent articles that describe the impact of GDPR six months out.
GDPR: Impact and Opportunity
The CMO Council’s report “How Marketing Leaders Addressed GDPR Readiness and Compliance” summarizes a survey of 227 senior marketing executives on a post-GDPR world. The research highlights that far too many marketers are unaware that GDPR even applies to them, and have taken no steps to modify their policies. The report highlights why all marketers -- those dealing directly with the European Union and those who aren’t -- need to look more closely at this regulation and what it means for them. In fact, marketing leaders embracing GDPR see it as an opportunity to increase loyalty by better protecting customer data and increasing transparency into how that data is used. Download the report
How to Balance Marketing Strategy and GDPR Today
In MarTech Advisor, Justin Keller, Vice President of Marketing, Sigstr, writes that while many were concerned that GDPR would completely eliminate the ability to collect user data, it’s still okay to collect this data as long as the process is documented and the data can be managed or deleted. He believes that the guidelines can be viewed as a welcome catalyst to shift toward “known marketing.” This entails identifying the targets and contacts that are most important to a brand and are actively engaging with employees and the company overall. Read the article
GDPR Impact Being Felt Worldwide By Companies
Block Tribune interviewed Daryl Crockett, CEO and founder of ValidDatum, a Massachusetts consultancy that helps companies comply with the new law. Crockett discussed how much progress has been made since the GDPR passed. She noted that lawsuits have started at larger companies that have been served notices leading to fines over the interpretation of the law. In addition, class action and civil suits have begun on the behalf of EU data subjects as a result of data breaches. In the US and other countries, companies are beginning to understand that compliance with GDPR is not optional. Read the article
GDPR has cut ad trackers in Europe but helped Google
In TechCrunch, Senior Reporter Natasha Lomas describes a tale of two differently regulated regions. While the average number of trackers per page dropped by almost 4% for EU web users from April to July, the opposite was true in the US, where the average number of trackers per page rose by more than 8%. Her analysis also implies that Google may have slightly increased its marketshare in the region — indicating the adtech giant could be winning at the compliance game at the expense of smaller advertising entities that are losing reach. Read the article
How the European Union’s GDPR will revolutionize retail marketing
In Internet Retailer, Mike Sands, CEO, Signal writes that the EU’s General Data Protection Regulation has not put a stop to targeted digital marketing, but it has forced some changes. This has compelled retailers and brands to rethink their personalization and marketing strategies. He notes that a recent survey found that nearly 60% of U.S. consumers believe the federal government should regulate how companies use consumer data. By dissolving organizational silos and creating a unified, company-owned data layer, he says, retailers can strategize more effective ways to create cohesive, privacy-forward customer experiences that strengthen shopper relationships. Read the article
6 Months After GDPR: What Are the Trends in How Data Transfer and Sharing in Marketing Has Changed?
In MarTech Advisor, Editor Shalaka Nalawade interviews industry leaders to see what has changed in the last six months. “While GDPR certainly caused lots of hand-wringing, the fears that it would wipe out digital ad industry have largely subsided. We’ve seen quite the opposite, as evident in the ad-tech industry’s flurry of summer M&A activity.” Her conclusion is that GDPR is helping us move toward a future in which we make progress in digital ad regulation, have safer and transparent data compilation, and work to ensure consumer data privacy. Read the article
Five Charts: Yes, the GDPR Is Shaking Up Digital Marketing
eMarketer’s charts show how GDPR—which states that a user’s data can be used only if that individual gives a company explicit permission—is shaking up the digital marketing industry. One of the findings: Now that websites are required to be more stringent about how they use people’s data, publishers are purging ad trackers. Since the GDPR became enforceable, the number of third-party cookies found on news websites in Europe declined by 22%. See the charts
In The Wake Of GDPR, It Can't Be Business As Usual With Consumer Data Privacy
In Forbes, Dr. Rao Papolu, CEO, Cavirin Systems, writes that the new California Consumer Privacy Act of 2018 (CCPA) is another sweeping data-privacy mandate that’s set to further tighten up accountability with consumer data. “The digital economy is lucrative yet highly vulnerable. Cybercriminals are relentlessly hunting for vulnerabilities and security gaps and can target sensitive consumer data anytime. By promoting greater emphasis on adherence, security and accountability, California’s new data-privacy regime is influencing fresh thinking in safeguarding consumer data.” Read the article
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