In only a few days time the General Data Protection Regulation comes into effect and you should be ready with the implementation of all the requirements arising from this privacy law, even in Mid-Wales!
GDPR – Risk or Opportunity?
A lot of businesses, especially in the area of Mid-Wales, view GDPR as an administrative bottleneck. Something that perhaps doesn’t apply to micro to small businesses or maybe is something that is on your mind but not viewed as important enough..
Well, there is a very clear answer to this – GDPR applies to ANY organisation that control or process personal data who have an establishment within the EU. This includes charities, micro businesses to large international organisations. Businesses should have data protection at the heart of everything they do. After all, the customer data is a the most key element of any business!
We believe that data protection is not just a compliance burden, it is a business opportunity. Your business could differentiate itself within the market by showing you care about your customers data. And by doing so, this will act as a fantastic marketing tool.
This is how you use GDPR to improve your Customer Experience!
Businesses have no choice but to comply with GDPR, but in doing this proactively you are likely to create a structure that drives benefit for your business. For example:
- Your business may have been collecting and storing data as a way to success, but in fact it is now a “data monster”. Just think about your business and the amount of data you have within it? Data that nobody actually uses anymore, data which is unstructured and spread out in many different places and formats? This could be the perfect opportunity to clean up your house by creating a centralised/ single versions of truth data which will be properly managed and accurate and of actual use to your business! And in the process you comply with at least 2 of GDPR’s principles!
- For decades, businesses have obsessed about sending undefined emails to huge distribution lists, with the hope that a message will stick and create an opportunity. However, generally this is expensive to manage and only returns very low returns. GDPR will find businesses will have to change this approach, but will find themselves starting to engage much better with customers; understanding their needs more and in doing so, showing the value they can return to these customers. Resulting in highly personalised offers and products, in exchange for using their data in a responsible and consensual way. This not only increase effectiveness of these messages, but also increasing levels of actual invoiced business.
- Better information security will greatly improve loyalty amongst existing customers and acts as a great marketing tool to encourage potential future customers.
When going through the process of complying with GDPR, your business will increase the reliability of your data. This will enable you to really understand what your customers want. Managed correctly, this will allow you to drive the creation of new service offerings and revenue prospects whilst maintaining data privacy.
So bottom line, GDPR is a great opportunity!
Where to find further information:
Within the UK the Information Commissioner’s Office (ICO) is the Supervisory Authority, empowered to take the necessary actions to implement and enforce data protection within the UK.
Their website has fantastic tools and information available with regards GDPR (https://ico.org.uk/).
How can we help:
We provide support from a certified GDPR Practitioner, to help your business to meet its obligations under the GDPR. This can be done through:
- A basic consultation meeting where you can ask your most pressing questions to see whether you are going down the right path;
- We can also come in for a high level GDPR GAP Analysis, after which we will provide an assessment report with our findings and recommendations; and
- We can provide practical help by project managing any work flowing out of the GDPR requirements or by advising your team to make sure you get the results you are looking for.
Please contact us for further information!