GDPR and its Impact on the Businesses

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GDPR and its Impact on the Businesses

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What is GDPR?

There is a lot of buzz going around on GDPR(General Data Protection Regulation). The concept had been floated quite a while back but now with its formal implementation in the EU, we have to look into the impact that this new regulation will have on businesses not only in EU but also the ones from other parts of the world operating in EU or be targeting customers there.

Who will be affected?

All businesses which deal with data of the citizens come under the purview of this rule. The citizens of EU will get rights dealing with their personal data and the ones they share online. Now, the companies which carry out their work using this data for their marketing purposes will be impacted. Unless the citizens provide consent to the companies in using their data, they will not be able to use it.

Various software companies, ad agencies, marketing agencies who take up outsourced work will be affected. The E-commerce sector will also be affected as they require behavioral data and other customer data to market their products.  Now they need to gather consent from customers whose data they would be using.

Changes which the businesses may implement in their marketing strategies-

  • Build a strong followers base: Businesses have been building follower base for quite a long time but now there would be the urgency to increase and improve their follower base. As the unsolicited emails can’t be sent to the brands will use their followers to spread brand messages. Social networking sites will be of primary importance in this strategy.
  • The online posts will have to be extremely engaging: The posts shared by the brands would have to be extremely interesting and should engage the followers more than ever before. If it’s not so then the posts won’t be shared by the followers and the brands would not be able to spread their messages well enough.
  • High demand for micro influencers: The influencers who have a steady base in a specific area of interest will be of high demand to the brands now. Due to their reach to the target audience of the brands, the products or services will be marketed better as the followers of these influencers trust their judgments.
  • Refocus on the traditional marketing strategies: Traditional marketing used to happen via television ads, newspapers, magazines etc. The brands have to reach these channels as they can send their messages to a wide array of customers without any requirement of permission.

With these regulations, a host of changes will be coming forward to the ways businesses operate. The digital world being very critical for businesses, they need to refocus their online marketing strategy as well. For all kinds of digital marketing requirements, get in touch with Matrix Media Solutions.

May 30, 2018

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