The European Union’s General Data Protection Regulation (GDPR) has come into force on the 25th of May 2018. We don’t mean to scare the horses, but your business should be GDPR ready. Especially if you do business online and have an international audience, then you should read on!
A report by Ernst & Young from earlier this year, Global Forensic Data Analytics Survey, found that less than 12% of Aussie businesses are prepared for the profound ramifications of the GDPR.
What is the GDPR?
The GDPR in a nutshell allows individuals who reside in EU member states to make informed and empowered decisions to better control the personal data that’s currently held by companies.
I’ve got an Aussie business. So why should I care about the GDPR?
If you’re a small or mid-sized business and you offer goods and services to individuals located in the EU and you retain data about those individuals – your business will need to be Compliant to the GDPR.
A common example would be any Australian online retailer with any EU based customers who order goods and services online.
What happens if my business doesn’t comply?
Non-compliance to the GDPR could result in financial penalties to your business. These include fines of up to £20 million or 4% of global turnover, whichever is higher.
Hold up! Before you panic, it’s important to note that the GDPR is actually a positive legislation. This ensures that businesses are transparent and accountable for how they handle an individual’s information.
In terms of the long-game, SME stand to gain a stronger reputation and loyalty with customers when they become compliant to the GDPR. Essentially, customers will come to see your brand as one they can trust – and that’s a good thing in the long-term for your business.
10 Actionable Steps to GDPR compliance
Although not simple or straight-forward to understand, the GDPR represents massive step forward for fostering consumer confidence in online businesses. Here are ten steps which, when followed to the letter will mean that your business is compliant to the GDPR.
1. Build internal awareness of the GDPR in your business
2. Delegate someone as your business’s Data Protection Officer
3. Have a compliant way to collect data from underage consumers
4. Have a process in place for if/when a data breach happens
5. Conduct regular Information Audits
Total Marketing’s 10 actionable insights and a clear roadmap to GDPR compliance
6. Communicate about the data you hold to your customers
7. Have a process in place for when an individual requests access to their data
8. Clearly gain consent and opt-ins from individuals
9. Have a process in place for when a customer requests you delete their data permanently
10. Have a process in place for when a customer requests a complete copy of their data to be sent to them.
Not sure where to begin? Don’t sweat it!
The team at Total Marketing Australia have been working with multinational businesses and e-commerce businesses throughout the world over the past decade. We are completely prepared for the inevitable sweeping changes of the GDPR and are ready to assist our SME clients to become fully compliant too.
If you need help to make your small business GDPR compliant then don’t sweat it! Our team will be able to help you with
- Drafting up a GDPR compliant privacy policy for your ecommerce business
- Putting actionable operational processes in place to ensure that you’re GDPR compliant.
- Consulting with your business on the best way forward for becoming GDPR compliant.
- Providing comprehensive data-led and GDPR compliant marketing that will provide exceptional ROI.
Need help on any of these fronts? Contact our Director, Ray Giridharan today for a chat!
Total Marketing’s 10 actionable insights and a clear roadmap to GDPR compliance
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