GDPR will be a challenge for marketers, but it will also enable a new level of transparency that will change the programmatic industry for the better. But how ready are marketers? In this exclusive Q&A, Ian Woolley (pictured below), CRO, Ensighten, tells ExchangeWire where marketers are right now in terms of GDPR, where they should be at, and how marketers should approach GDPR from a strategic point of view.

ExchangeWire: Where are marketers at right now in terms of GDPR?

Ian Woolley: GDPR is the General Data Protection Regulation which takes effect on 25th May 2018. By effect, that means the date by which companies can be held responsible for not complying to the regulation and may be subject to punitive fines.

Ian Woolley, CRO, Ensighten

Our recent research showed that 42% of brand websites are still not compliant. Despite notable brands dominating headlines as companies that could have been subject to fines should GDPR be in place, there remain question marks on what businesses need to do to ensure that they’re compliant. There’s certainly more awareness of GDPR, and most marketers are actively exploring options and putting measures in place to become compliant. That said, this research really highlights that marketers are unprepared and, as we edge closer to 25th May, there are still gaps in knowledge.

One of the challenges is that almost half (48%) of UK marketers don’t believe their teams are fully aware of the implications of GDPR. Only a fifth of companies (22%) have opted to hire a dedicated specialist to cover GDPR responsibilities. For those marketers without measures in place, the time is now to invest in GDPR, as there’s more on the line than large fines, given the reputational damage that being non-compliant could have on a brand.

So, where should they be at right now?

I’ve always liked the quote “by not preparing, you’re preparing to fail”. Our research shows that some brands have underestimated what it means (and takes) to become GDPR-compliant. This is partly down to mindset, with some brands viewing it as something they will be penalised for, versus viewing it as a positive change that they should be making. Moreover, it's an opportunity to review how they interact with consumers and gain more value from their data.

In a perfect world, brands would have a strategy in place, partners established, and a clear road map of what they need to do to become compliant well ahead of the deadline. But every business is different and becoming GDPR compliant can be a complex journey. There is still time to put the right tools in place, but marketers need to act now before it gets too late.

How will the new regulation impact the ‘Value Exchange’?

Transparency is the key to maintaining a good relationship between businesses and consumers. GDPR gives consumers new rights and this only a good thing. It means giving them the chance to review how their data is being used, and even allowing them to delete their details at their request. While this may cause some marketers to sweat at the collar, this new relationship and empowered consumer is healthy. It means that when a consumer consents to the value exchange and hands over their data, they're going to be more receptive to the brand because they have actively demonstrated interest in what the brand offers.

Simply put, to make the value exchange work, consumers must be educated, and brands must be both efficient and effective in their data management and governance. Marketing is on the front line as the most visible consumer data ‘user’. The quid pro quo must come from marketing and be very clear!

What are the key considerations for marketers when it comes to GDPR?

Consent, governance, and transparency are three of the key considerations. From personal data collection, storage, transfer, and audit, these are three of the intertwined elements that run throughout the regulations.

At its core, focus on the consumer, their new and existing rights, and how best to serve them through the corporate procedures and technology platforms used to deliver business results.

How should marketers apply the GDPR in terms of strategies that will have long-term impact on consumer engagement and loyalty?

Any brand that strives for longevity in their relationship with consumers needs to ensure they’re not looking for a quick fix and just doing what is necessary to be compliant. Data is a valuable asset for consumers and they want to provide it to brands that will both look after it and respect it. Those brands that introduce clear data consent options to consumers for every communication method, as well as put robust security measures in place, are on the right track to securing customer engagement and loyalty.

Perhaps most importantly, marketers need to take their team on the journey and educate all departments of the business, so they understand their role in remaining compliant and why it’s key.