Five ways the general data privacy regulation will impact your marketing strategy – crain’s cleveland business data recovery from hard drive

Global brands across the nation are gearing up for a major change to the data protection and privacy landscape as we know it. Set forth by the european union, a new piece of legislation known as the general data privacy regulation (GDPR) will transform the way organizations collect and store data.

Coming into effect on may 25, the GDPR limits the amount of data that marketers can collect on european consumers. This will have a large impact on U.S. Companies that operate on a global scale. Namely, marketers of these global brands will need to implement new processes and tools that prompt consumers to give explicit consent when sharing their information.Marketing strategy

Although its parameters are extensive, the GDPR ultimately aims to protect the data privacy rights of consumers by holding organizations to higher standards of transparency, security and accountability when it comes to the way they collect and store data.

Any companies that fail to comply with these regulations will face significant penalties of up to €20 million or 4% of their global annual revenue, whichever is greater. In order to ensure compliance, global organizations should take proactive steps over the coming months to align their marketing practices with this new regulation.

List-buying and cold emailing have been outdated and ineffective for a while.Marketing strategy after all, no consumer enjoys being spammed. The GDPR will make it illegal for marketers to contact individuals without their consent, putting an end to these old-school tactics. However, this doesn’t mean businesses relying on email marketing for lead generation are doomed. Instead, they have an opportunity to build a better mailing list with an inbound marketing strategy. Rather than buying and/or using email lists, marketers can generate leads by providing valuable content in (consensual) exchange for individuals’ email addresses.

The GDPR also will change the way marketers conduct media pitching. For the most part, media pitching is considered a legitimate interest for collecting data under the GDPR as long as it’s done in a proper, respectful manner.Collect store data however, gone are the days where marketers can use the "spray and pray" method of securing media placements. Mass mailings will be strictly prohibited. Although the liability for consent will primarily lie with media databases like cision and vocus, marketers need to ensure they don’t abuse this data by sending a reporter irrelevant information. Instead, marketers should make sure their media lists are accurate and up to date, take the time to develop genuine, mutually beneficial relationships with the press, and tailor media pitches to each individual reporter.

The GDPR will inevitably transform the marketing industry as a whole — and, with its implementation only months away, global brands should take heed.Collect store data it will force marketers to ditch tired, old-school tactics and rethink their approach to marketing.

Successful brands will use this as an opportunity to better cater to their consumers by putting more creative and thoughtful marketing practices into play. Initiating a transparent marketing strategy that adds value, not irritation, to consumers’ lives will ultimately gain the trust of consumers and drive more success for your business.