In 2018 there was mass confusion and panic at the changes being introduced by the new data regulations through GDPR. Nobody wanted to get it wrong and risk the financial repercussions. But getting it right meant changing our processes, giving up data, sometimes even starting from scratch.
Now a little over 2 years since GDPR was bought into effect, how has the landscape changed?
Consumers are more confident in their data being handled
One of the main aspects of introducing data protection regulations was to give some control back to the consumers. With data becoming the most integral commodity for businesses to collect some responsibility had to be put onto these businesses to appropriately take care of it once they had it.
GDPR is now well understood and trusted by consumers to protect them as “In the UK, marketers’ median number of data sources has actually risen by 50% since 2017.” This has in turn laid the foundation for a new attitude towards personalised marketing, it seems consumers are increasingly willing to give their data away now as they feel it’s safe to do so.
With 79% of customers willing to share data in exchange for contextualised engagement, and 88% will do so for personalised offers. More companies are getting access to more data allowing personalised marketing to become industry standard.
Marketing isn’t about tricking it’s about trust
The main theme emerging from data protection regulations is trust. When GDPR was introduced it forced us to change how we carry out marketing practices and for the better if you ask me.
With this new responsibility to not only look after customer data but to also be transparent with what we do with it and how customers can take it back came a new attitude towards marketing.
As I mentioned above with the number of data sources available to marketers after GDPR actually rising, people respond to something they can trust and are more likely to give you what you want (data) if you give them what you promised.
“99% of UK marketers agreed that personalisation improved revenue growth, and 98% said that it improved their overall marketing programme.”
Offering your customers more personalised and tailored experiences helps to nurture that trust between you and them. They feel they are being listened to and can actually see how the data they willingly gave you is directly bettering the experience on offer.
Embrace GDPR and what it can do for you
While it can be easy to view data protection regulations as something to get in the way of marketers and prevent key communication between a business and their customer it actually couldn’t be further from the truth.
GDPR and all its restrictions has forced marketers to work with our customers and adapt the marketing space as a whole. We recently published a blog on how 2021 is the year of customer satisfaction and we have only reached this far because of how GDPR forced us to adapt and value trust over everything.
GDPR opened the door to customer engagement, allowing us to nurture more meaningful and impactful relationships between our brands and audience.
If you’d like to read more on how trust can be incorporated into other facets of your business then click here.
Take the first step towards valuable data
With our Data Capture app and Data services team on offer we provide all the tools necessary to unlock the value in your customer data