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GDPR: 5 steps every business needs to take before May 25th to avoid a fine

GDPR: 5 steps every business needs to take before May 25th to avoid a fine

If your business doesn’t comply, you risk a fine of up to 4% of your worldwide yearly revenue

GDPR affects almost every business and you have to be prepared for it.

You may or may not have heard some stories about GDPR and that it’s happening soon, but what is it, what does it mean for your company, how can you protect your business and what happens if you don’t?

Here are the 5 most important steps every business needs to take before May 25th.

  1. Install a Cookie preference toolkit on your website
  2. Update your privacy policy in a clear, human-readable way
  3. Review if your email marketing adheres to the GDPR rules
  4. Ensure that your Google Analytics account has been modified accordingly
  5. Audit how your company collects and shares data with employees and other organizations

What is GDPR?
GDPR stands for General Data Protection Regulation and all companies must comply to these new set of rules as of May 25th, 2018. GDPR applies to all companies who do business in Europe and it requires businesses to protect the privacy and personal data of EU (European Union) citizens.

The current Data Protection Act (DPA) was first established in 1995 and the rules have never been changed or updated since then. If you are complying properly with the current law, then you already have the starting point to build up from on the road to GDPR compliance.

Preparing for the GDPR changes
If we put all technical language aside, the GDPR law basically means you have to keep the personal data you collect and have previously collected safe. The consequences of a possible breach can lead to fines of up to 4% of your company’s worldwide annual revenue.  So how do you prepare and avoid possible breaches of privacy?

Make sure that the key people in your organisation are aware of the upcoming changes and how this can influence their position.

Storing data
Make sure you document what personal data you hold and collect, where it comes from and who it is shared with.

Update your privacy policies
Review your current privacy policies and make any changes where necessary.

Collecting data and consent
Check how you are currently seeking, recording and managing consent of your clients and if any changes need to be made to your current process.

Get insured
If your company does business in Europe, getting insured is a great way to protect your business in case of possible data breaches.

Data breaches
Put procedures in place to detect, report and investigate possible personal data breaches. This way you are constantly up to date.

What GDPR means for your website and digital marketing
If you are currently collecting visitor information on your website, you may need to review the information you are collecting. Some things are no longer allowed without proper consent from the visitor. This means that upon entering your website, a visitor must manually select and agree to certain terms like cookie tracking for advertising, page visits, website behaviour and more.

Gathering possible lead information is now becoming more difficult because the potential lead must give consent. This means that people will now be more aware and more selective in regards to what they allow businesses to collect from them or not.  

What this means for your business’ digital marketing is: less quantity, more quality.

When people manually select to receive advertisements or agree to collecting their data, this means they are genuinely interested in your business and are more likely to become a client.

Is your business GDPR ready?
To find out how you should update your website and digital marketing activities to comply to the upcoming GDPR changes Contact us today for assistance