What will happen when GDPR comes into force – our predictions.
With the imminent arrival of GDPR on May 25th this year, many people are wondering what actual impact the new regulations could have on their businesses.
We’ve put together our top 10 predictions for life after GDPR.
- A chaotic Day One. GDPR comes into force on a Friday, so the business world is anticipating a ‘manic Tuesday’ on May 29th – the first UK working day after the regulations begin. Experts expect that thousands of people in the UK and other EU countries will begin to submit SARs (access requests) for their data. May 29th will be a major test of how prepared businesses are to deal with GDPR.
- Criminal activity. Over the last year we’ve seen an increase in security risks to data held by large companies with ransomware like WannaCry, BadRabbit and more. As GDPR comes into force expect to see more attacks on businesses by criminal gangs exploiting insecure systems, as data becomes more and more valuable.
- The rise of DPOs. DPOs or Data Protection Officers will be required for organisations with over 250 employees. The new job role will probably become very influential in business, liaising with top level management and responsible for considerable risks within the business. Look out for a rise in courses and qualifications.
- The ICO will flex its muscles. The Information Commissioner’s Office (ICO) will be the body enforcing GDPR. They will be looking for any large-scale data breaches and more than likely looking to make some key examples to set a precedent with large, medium and small businesses.
- A good reputation. It’s not all doom and gloom. Businesses who are GDPR ready and are complying with the regulations will begin to use this as a marketing tool. It’s possible that some kind of certification could arise and that companies who are GDPR certified have a stellar reputation for handling data and being secure and therefore attract more clients and employees.
- The augmented market. A market around the regulations will grow. People who are well versed and eventually well experienced in implementing, running and handling GDPR processes will be able to charge top dollar for their services. This could also include new pieces of software that help companies to comply.
- Targeted marketing. We are all consumers, and we are all concerned with our personal data. Once GDPR comes into force expect less junk and more targeted marketing for things you’re actually interested in!
- Starting again. It is estimated that a whopping 75%*of UK marketing data will become useless on 25th May as it doesn’t comply with the GDPR. As a result, right now ‘re-permissioning’ campaigns are top of marketers’ agendas to try and mitigate as much loss of data as possible. Expect a lot of smaller businesses to be looking at starting again to build up marketing databases.
- The UK as a hub for data-driven expertise. 83%** of marketers believe it is integral to the future of the UK’s marketing sector that we are seen as a hub for data-driven expertise. To that end it is key for the government to secure a free flow of data between the UK and Europe post-Brexit.
- A creative revolution! Businesses will need to get creative and innovative in their approach to marketing to their customers. 71% of marketers are predicting a creative revolution stretching over the next five years!**
If you are still not sure what GDPR is or what you need to do to be ready take a look at our blog ‘What do I need to do about GDPR?’ And if you want to discuss some innovative marketing ideas then give us a call and we’ll get the kettle on!
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