GDPR: Marketers see new data regulation as a creative opportunity
Almost three-quarters of marketers see next year’s looming GDPR as a creative opportunity, according to research from the DMA Awards.
Some 71% of marketers believe the General Data Protection Regulation (GDPR) – which comes into effect in May 2018 – represents a unique opportunity to formulate more creative campaigns to engage potential customers.
However, respondents did admit a better balance needed to be struck between data and creativity, with 84% of marketers saying data should be used to inform, rather than replace creativity.
Worryingly, 53% of those surveyed raised concerns about the lack of skills marketers possess in order to succeed in a data-driven industry.
GDPR should be seen as an opportunity more than a challenge
In October 2017, the DMA published a survey that revealed almost two-thirds of businesses believed GDPR will hinder their marketing, but the more recent findings indicate marketers are finally starting to recognise the opportunities, rather than the challenges, that the new data regulation represents.
GDPR comes into force on 25 May 2018, with brands who fail to achieve 100% compliance subject to crippling business fines: up to €20 million or 4% of annual worldwide turnover.
With the deadline fast approaching, recent research revealed 15% of companies still do not have a plan in place to deal with GDPR.
This free comprehensive guide explains what the General Data Protection Regulation (GDPR) is, how this incoming data protection law will affect your organisation, and the practical steps to take to prepare for it.
Rachel Aldighieri, MD of the DMA, said: “We are going through a period of dramatic change both as an industry and as a nation. From leaving the EU, to the incoming data protection laws trying to legislate an ever-changing technological landscape.
“The GDPR, in particular, is a unique opportunity for business transformation and to forge new relationships with customers based on trust. Those organisations that put creativity at the heart of a customer-centric approach, not simply viewing the new laws as simple a legal issue, will thrive in this new environment.”
The survey comprised the responses of 249 senior marketers.