GDPR AND ITS IMPLICATION FOR BRANDS

Seen a lot of applications or web services telling you that they have recently reviewed their Terms of services lately and wondering what it is about? This article is here to answer and explain all about What GDPR is, who it applies to, and its implications for business and its end users.

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What is GDPR?

The European Union (EU) General Data Protection Regulation (GDPR) (EU) 2016/679) is a law that focuses clinically on regulating and addressing the collection, usage, storage, processing and transfer of the personal data of European Union citizens. It replaces the EU Data Protection Directive (95/46/EC) of the year 1995.

Basically, GDPR tries to give Europeans back control of their data and also assert digital sovereignty.

 

Who does it apply to?

This regulation applies to all European Union member states and any Body or entity that deals with the transfers of personal data outside of the European Union. That is to say, if the nature of your company’s business is for the collection of personal data from European Union citizens, GDPR applies to you.

What are the business implications of GDPR

Truth is, this new data protection regulation puts the consumer in the pilot’s seat, and the onus of complying with this regulation falls upon the businesses and organizations.

There are grave penalties for companies and organizations who decide to be non-complaint with GDPR, with fines of 4% of annual global revenue or 20 million Euros (whichever is greater) from the business or organization.

Majority view the GDPR as just a tech problem, this assumption is flawed; as GDPR has a broader all-encompassing implications for the whole company, business or organization, which includes the way companies handle marketing and sales activities.

What is the impact of GDPR on customers?

The most evident and immediate impact is coming in the Terms of Service and other caveats/ warnings for companies. The GDPR’s idea of consent requires a lot more than previous regulations, which means companies will be asking permission to collect your data a lot more often as opposed to obtaining it arbitrarily without consent. In concrete terms, that means a lot more “click to proceed” boxes, although the transparency requirements mean the text inside may be a little clearer than the tiny-worded lump of texts you’re used to.

Companies will also be introducing the opportunity to download all the data they have extracted from you. This service would be rolled out today worldwide by all companies.

That helps in two ways: it lets you check what companies are collecting, and it could help unwind platform dominance by letting you transfer data between networks.

The conditions for obtaining consent are now stricter and more rigid under GDPR, as the individual must also have the right to withdraw the consent given at any time

All of this means that companies would have to prove that the individual agreed to a certain action, to receive a newsletter for instance. It is not allowed to assume or add a disclaimer, and providing an opt-out option is not enough.

What are your thoughts on this? Is the involvement of GDPR a great and welcome initiative?

Would this bring a downturn for Marketers?

5 MUST DO FOR SME BUSINESS OWNERS GOING ONLINE

Congratulations on deciding to take your business online! Even though it’s is not as rosy or simple as people make it seem, it does come with its rewards.

Much has been said about launching your business online. To some, it may sound too complicated or risky. However, there are many good reasons to begin running your business online.

When it comes to building business profiles, we at Interactive CT recommend these 5 steps to SMEs as they start their journey online.

  1. Outline your marketing goals.
  2. Get to know your audience.
  3. Create a social media calendar.
  4. Be responsive.
  5. Monitor and evaluate to record progress.

 

We listed the above to save you time. Read ahead for more details on understanding these steps.

  1. Outline your marketing goals: This sounds self-explanatory. The essence of outlining your marketing goals is to ensure that you define what you are looking for to achieve your business while going online.

Your marketing goals could be to increase sales, increase your number of social followings, or to drive awareness and further increase brand visibility. Whatever the marketing goals are, they should be outlined clearly.

 

  1. Get to know your Audience: It would be waste of time to market cold water in Russia, or sell ice in Antarctica (unless you are Jay-Z, the hustler).

It is important to carry out personal research on your audience: what they are interested in; how they spend etc. One way to learn about your audience is by carving out a demographic segmentation, filtering your audience based on sex, location, religion, tribe, interest, age etc.

 

  1. Create a social media calendar: This isn’t your regular type of calendar. This is a social media weekly or bi-monthly calendar that guides you on what to post, when to post and how to post. The essence of this is to ensure that you are consistent with your post, as consistency in posting drives more engagement. You don’t want to be that person who posts today and forgets to come online to post till a month after. The social calendar is a timeline that serves as a form of self-checks and balances. Depending on what you sell, you could decide to celebrate a female customer every Wednesday. Also, you can decide to choose Mondays for sharing motivational posts with your online community.

 

  1. Be Responsive: This is one mistake many SMEs make. They get too busy trying to post and forget to respond to comments or Direct Messages (DM). Oft times, these comments or DMs are business prospects and enquiries from customers or potential customers. Unavailability makes the customer feel neglected and portrays a bad image of the company. The internet allows you to answer questions, give sales webinars, and solve customer problems—all without taking any of your time.

 

  1. Monitor and evaluate: The purpose of this is to allow you able to properly take notes and also record progress or ensure where to buckle better. When you monitor the progress of your page, it allows you to know if you are to focus more on your tactic or adopt a better strategy.

 

Best of luck in your launch online. Feel free to send us a message if you need help.

 

Written and composed by Interactive Communications Teams © 2018