Has GDPR made your business more Lean?
The EU General Data Protection Regulation (GDPR) is the most important change in data privacy regulation in 20 years. Its introduction has fundamentally reshaped how data is handled across every sector.
We all know that change is scary, especially when it’s something as big as the GDPR (with severe consequences for getting it wrong). Although becoming GDPR compliant was time consuming and challenging for businesses, it has created benefits that many weren’t expecting. Keep reading to find out some of the way in which GDPR might be making your business more lean!
Improved consumer confidence and trust
You’ve put in hours of hard work to ensure your business complies with the GDPR, now what? Obviously these changes will improve your data security, but they will also promote respect for customers’ data and social responsibility within your business. Knowing that you will be respectful of their data may improve customers perception of your brand, create greater consumer confidence, and boost trust within your audience.
Create more high quality branded content
Secondly, the GDPR means that the amount of generic marketing campaigns distributed by business will reduce. Basically your customers will be receiving less spam, which is obviously great for them. However, this also creates a huge opportunity for your brand to produce more high quality branded content that is relevant to your target audience. When it’s done right, branded content can be a fantastic marketing strategy. Research has show that it can lead to better audience reach, greater loyalty, and being viewed as more authentic and trustworthy brand. What’s not to love about that?
Increase your marketing ROI
As part of GDPR compliance many business carried out a data cull to identify, and get rid of, old data. Initially, losing a portion of your mailing list may be daunting, but long-term it may be a blessing in disguise. It helps reduce unengaged address and lost leads, meaning you’ll have a lean database of leads and customers that are actually invested in your brand and want to hear from you! So GDPR can help you to focus your marketing and ensure that your time and money are spent efficiently.
For many businesses, another part of ensuring GDPR compliance involved reviewing their data handling procedures. This creates the perfect opportunity to also look at your data flow and ensure they are efficient, not just compliant. It is common for businesses to waste time and resources storing lots of data that isn’t really useful for them. If your data flow also includes a couple of steps that could be removed or combined, then you have the potential to make big savings in time and money, so clearing out and refining your processes will be beneficial.
If you would like to learn more about becoming Lean, or have any questions, please contact us – we’re happy to help!
You can find out more about GDPR here.