It’s easy to see the EU’s new data protection rules as a box-ticking exercise. Yet going a step further and explaining how personal data is used and the benefits to data subjects can reward companies with stronger customer relationships, says Consentric’s Simon Crossley
Many companies believe they are now well on their way to compliance with the new European data protection regulation, according to recent GDPR market research. But the GDPR survey also suggests a mismatch between those companies’ perceptions of their progress and their understanding of what’s actually required of them. Which means they could be missing out on important opportunities to reinvigorate customer relationships.
GDPR, enforceable in the UK under the new Data Protection Act 2018, significantly bolsters people’s rights over their personal data and what companies do with it. At its introduction in May, more than a quarter of organisations claimed to be ‘very well prepared’ for the EU General Data Protection Regulation and 61 per cent ‘somewhat’ prepared. Yet it’s hard to imagine that these businesses have transformed their approach to customer data as part of those preparations.
In many cases, companies will have approached the new rules as a compliance exercise – not a broader review of how the controls could work best for the business and its clients. Yet with GDPR, companies have a unique chance to develop a more sustainable plan around customer data that will contribute positively to their brand and business development.