Marketers still yet to take action on GDPR
Almost a third of marketers have done nothing about GDPR, even though there’s fewer than three months until the new data protection law comes into force.
The survey of more than 200 marketers by marketing automation provider Act-On found 31% haven’t taken any action to adjust their operations or engagement strategies ahead of the 25 May deadline.
In addition, less than half (45%) felt the rest of the business understands the rules and implications the Europe-wide legislation introduces.
But they’re also not worried by the consequences. Less than a quarter are bothered by the prospects of fines – which could be as high as €20 million or 4% of annual turnover – compared with 29% that are concerned by the cost of compliance. Just half of marketers have set aside budget to deal with compliance, with the majority that have spending between £1000-£7500.
'The potential costs and consequences for non-compliance really can’t be understated'
David Fowler, head of privacy and digital compliance at Act-On, said: “There doesn’t seem to be an industry-wide consensus on GDPR, but it’s clear that a vast number of marketers and businesses remain unprepared or unaware.
“It’s surprising to still see such a disparity, despite the prolonged build-up and wealth of support available, but the potential costs and consequences for non-compliance really can’t be understated."
If you're among those that haven't started your preparations, B2B Marketing has compiled a list of the most frequently asked questions here to help.
Far from signalling the end of marketing, GDPR should be seen as an opportunity to rethink your marketing strategy and reposition the function as a source of genuine competitive advantage.