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GDPR – Its impact..!

GDPR – Its impact..!

What is GDPR?


GDPR is an iteration of the existing data protection law defined and enforced by the European Union (EU) in effective on May 25, 2018. The core objective is to ensure safeguard of residents private information and its a drastic revamp of the data protection laws that has evolved the 3 decades, bring it inline with digital giants like Google, Facebook, and twitter.  Europian residents now have greater control of whom they will provide their personal data, as well as the right to be informed on where their data will be used. The new legislation also grants EU residents to have their data be accessed, rectified, and erased whenever necessary.
Personal information can include a diverse data types, including but not limited to:

  • First &  last name
  • Bank account & Personal Identification numbers 
  • Address
  • Passport information
  • Personal email addresses
  • Credit card information
  • Photos and videos 
  • Medical records 
  • Location data ,(IP) address – a cookie ID
  • The advertising identifier of your phone

In case of breach, fines can be levied up to  20 million  euros or 4% of turnover, whichever is higher for violations related to legal justification for processing, for violations of record-keeping,  lack of consent, data subject rights and cross-border data transfers.  

GDPR Impacts 



Global marketers rely heavily on collected data from different devices to build buyer personas, create tailored customer journeys, and provide personalized customer experience, With GDPR in place marketing industry can expect a variety of new challenges and 50% of marketers say they will struggle to meet the rules set out by Europe unless they make significant changes to how they operate. The most significant impact will be the right to be informed, the right of access, and rights related to automated decision-making and profiling. 

With GDPR in  full effect, it’s critical for digital marketers that all their digital marketing platforms are:

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  • Documenting the lawful basis for processing personal data;
  • Ensuring that data is only kept for as long as it meets that basis;
  • Ensuring that data is accurate and up to date; and
  • Less priority to sensitive data so that only approved personnel can access it.

How to overcome this challenge?



Thanks to contextual advertising. Due to these data collection challenges, many digital marketers are expected to rely on contextual advertising. The power of contextual advertising lies on the content that a customer is looking at in real-time, such as a news article, website, social media feed, mobile app screen, or a video game.One of the best forms of contextual advertising that many digital marketers are already using is the native advertising, In this approach, the sponsored ads are designed to adept to the environment or look like native content on a website.

Conclusion

It is critical that digital marketers dedicate time and resources to completely understand the facets of this new regulation and take steps to ensure compliance, not only with the GDPR but also to other applicable data privacy laws. To be considered as the significant data privacy regulation ever enacted, the full breadth of how GDPR will change the digital marketing is far beyond the scope of this infographic. 

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