The introduction of GDPR, which should enter into force on 25 May, is expected to be one of the biggest changes to hit the financial and professional services in recent years.
The new changes will force a variety Digital Marketing Companies Bournemouth of different companies to review their marketing strategies and data storage procedures, in response to the new regulations.
But what GDPR?
GDPR is the protection of general data of the European Union and the settlement will signal the biggest change in the safety and regulation of privacy in over 20 years.
As technology continues to advance at an unprecedented rate, technology and data have also continued to evolve, which means it was necessary to review the current regulations.
Giving individuals and companies of all shapes and sizes, more control on data control, GDPR will not only presents several new challenges that companies will face, but it will also pave the way for a host of new opportunities .
The new regulation will apply to employees or data processing customers EU citizens or personal data.
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The impact of GDPR for merchants
The changes will have an impact on the marketing of financial services, as it will force the companies and all the people working in this sector to make changes to their policies for collecting and storing data.
And, if you do not take steps to become compliant GDPR, you could face fines of up to £ 20 million, so it is important to become familiar with the new regulations.
One of the biggest changes for marketing financial services sector is the fact that there will now be an opt in option for resources such as e-mail lists.
So if you are planning to reach out to your target market with marketing materials, the message you deliver must be expressed in a way that is “freely given specific, informed and unambiguous” and associated with “action clear positive. “
So in simple terms, rather than a box checked before or automatic registration program that your customers can opt out, it must be something they choose to opt-in to.
And remember, if you currently use an automated marketing system, make sure you take the time to review your current systems to ensure that all mechanisms are in line with GDPR.
Ultimately, GDPR will allow you to log in and engagement with your target market at a much deeper level, allowing you to form stronger ties with consumers, while maximizing Digital Marketing Companies in Bournemouth transparency in all areas of your tasks online marketing including Facebook advertising.