Apologies in advance that this post is so long. There is a lot of information to cover…
GDPR is THE hot topic for many businesses right now—what is it? How will it impact US based marketers? And how can we prepare?
GDPR is the acronym for General Data Protection Regulation, the sweeping new privacy laws impacting companies that collect and use personal data from people residing in the EU. Customer privacy is the main reason these new regulations were created. They will impact the way that companies collect, use, and update data on current and new customers.
These new laws go into effect 25 May 2018 –Less than three months away!
The penalties for not complying are stiff– the greater of €20 million or 4% gross revenues. That’s why it’s so critical to have an organizational plan for dealing with customers from the 27 states of the EU.
I have attended two webinars, talked to people, and done a lot of online research about GDPR in recent weeks to learn more about these new regulations. The legislation is long, wordy, complicated, and a little unclear with direction for exact requirements to avoid problems. Very convenient. The key to success will be to have an organizational plan for how to deal with these changes.
There are a plethora of checklists online that your organization can use to better understand GDPR and implement a compliance plan. I’ve synthesized a couple of them here into six key steps:
We are accountable for the data we hold
Other privacy issues that the consumer have include the
Other terms and changes we need to be aware of:
Part 2 of this post will offer some steps to properly vet current names on your database and update your websites. It is now posted and can now be found here.
One of my favorite more detailed checklists online can be found here.
DISCLAIMER THAT I am not an attorney so this should for sure not to be construed as legal advice. This post is MY interpretation of what I have learned about GDPR so far, as a marketer who tries to stay on top of audience development and marketing issues. Any legal instructions should come from an attorney with knowledge of GDPR regulations.
The journey continues. Cindy