GDPR – the EU General Data Protection Regulation – is among the biggest legislative changes to hit UK businesses in years. Organisations that fail to adhere to the new rules face fines of €20m or 4% of their global turnover. And there’s no limit on size of business; it affects everyone.
GDPR is going to change the face of marketing - and mostly for the better. In many ways, the new data protection laws will encourage businesses to adopt best practice, and strongly discourage the quick-fix approaches that often give marketing a bad name.
If you’re not worried about the 25th of May 2018 - deadline day for the impending GDPR regulations - it means either your GDPR processes are fully in place OR you’re asking for trouble.
What do Jet Skis, Hoovers and Velcro have in common? They’re all brand names that have become shorthand for their respective categories. No-one asks for a personal watercraft, a vacuum cleaner or a hook and loop fastener. We all fall back to the brand name, and everyone understands. Owning a category as these brands do is a differentiation utopia that is tough to achieve. But differentiation shouldn’t be ignored: it can make or break a business. Getting it wrong can gradually eat away at your bottom line to the point that you’re only competing one way: price. The good news? Marketing can help.
Whether it’s an overload, a glut or a smog, there’s little doubt that the impending arrival of the General Data Protection Regulation ( GDPR) has unleashed a huge amount of activity over the past few months.