What is GDPR?
GDPR is an iteration of the existing data protection law defined and enforced by the European Union (EU)
Personal information can include
- First & last name
- Bank account & Personal Identification numbers
- 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.
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:
- 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
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.