GDPR: European legislation, global concerns
20 Apr 2018
With only weeks to go until the GDPR becomes reality, new research from NetApp investigates the concerns of C-suite, CIOs and IT managers beyond the European sphere that will be directly affected by GDPR - asking how their organisations could be impacted.
Previously, the DMA’s own research uncovered concerns about the logistical and financial impact of the GDPR. 64% of marketers said they would be ‘very’ or ‘extremely’ affected by the GDPR. 63% said their organisation would be negatively affected financially.
The new data from NetApp paints a similar picture. 47% of IT professionals are concerned about the negative financial impacts of the new rules. Damage to reputation was the top concern for those working in the UK, with 56% citing this as a major impact of non-compliance. Other concerns included mistrust from existing customers and job losses, both at 35%.
These concerns extend far beyond our shores and also Europe. Over half of respondents globally were worried about damage to reputation, and four in 10 concerned about revenue loss. Overall, we can see that even non-EU businesses feel affected by the GDPR, especially those with global ambitions.
However, it’s not all doom and gloom. Previous research from the DMA found that 39% of marketers think their customer offering will be improved by the GDPR. This demonstrates that, despite the challenges many businesses have to comply with the new rules there are also opportunities that outweigh the short-term costs.
DMA Group CEO, Chris Combemale, says: “The GDPR is a watershed moment for organisations to make data protection a core brand value. We should use the GDPR as a catalyst to transform the way we speak to customers, making every engagement human-centric. This will enable organisations to build trusted, authentic and transparent relationships with their customers.”
GDPR will undoubtedly raise challenges for marketers, but the opportunities are there for those organisations willing to change to put their customers first.
To read more about the NetApp research, visit: https://www.netapp.com/us/media/netapp-gdpr-survey-findings.pdf