Did you notice the decrease in people that received your marketing mailings and needed to spend money on consultants and overhead time for complying with GDPR? Getting fined for not being compliant? It’s a pain in the ass and costs money. Will it also bring any good to the organizations? Maybe it is possible it also brings some good.
Protecting your brand
To be honest, the privacy regulation prescribes that you need to inform customers when a privacy data leakage is discovered, so you cannot ‘hide’ when there is a leakage. However, before the GDPR became active in the EU, data leakages were also discovered and made public. Now your organization must be in charge of communication and you can ‘guide’ the communication paths. Instead of media and public that starts to spread the word. Besides, now your organization need to think of data minimization and may be needed to increase data protection, the risks level that information will leak (news that can harm your brand) will decrease. Although the possibilities and amount of data shrunk, that might have increased your organization; the risk that your organization would be harmed decreased.
Better and accurate data
CRM systems (Customer Relationship Management) are mostly filled with a lot of obsolete and incorrect data. In many organizations, 80% or more of the data can be defined as ROT (Redundant, Obsolete or Trivial). If you want to use big data for marketing purposes and/or analytics, it’s best to perform it on data with a certain quality, data that is correct and accurate. Is that single person that years ago bought something small still part of the client base you want to focus on? Don’t you think it’s a waste of money to send mailings to addresses and calling to phone numbers that are no longer active? Complying with privacy regulations will enhance the quality of the data.
Improve customer satisfaction
By giving your customers back control of their data, they feel more valued and they can choose whether or not they want to receive and provide information. Persons could get irritated by the mailings of your company and therefore does not buy at your brand, but when a person is in control and can unsubscribe, there will be no negative feeling about spam. Many shops have apps for vouchers, membership benefits, and a reward program. The feeling of choosing to participate and provide information will be a lot more positive than knowing a company uses your data and you did not know. A thoughtful strategy will help to increase customer satisfaction and have accurate and qualitatively good data.
Contrisity support in performing audits to check compliance to law and legislation and support organisations by setting up or reviewing the current adoption of privacy regulations.
