Consumers are becoming far more savvy when it comes to their rights. They are increasingly conscious of where, how and with whom they share their data. Now that GDPR has landed, your company can really take advantage of this. Lifestyle Media Group Ltd has been GDPR compliant for many years and we believe that the new laws under GDPR are nothing but a good thing. Here’s why.
Increased consumer confidence
Businesses that can demonstrate a transparent approach when it comes to the collection and use of personal data will stand a far better chance of winning consumer trust and confidence under the new laws.
The more you can make it clear to consumers that you want them to consent, the clearer your position is and the better you, as a business, can manage your data, the far more likely you are to build a successful, responsive database.
Most consumers are now more enlightened and therefore more cautious about who has their data and in what format companies are trying to acquire it. As a GDPR-compliant company, who makes it easy for anyone to opt-in or opt-out, you are instilling trust not only in your current database, but with any future consumers you add.
Improving data quality
GDPR forces companies to carry out a comprehensive examination of their data – those who didn’t just re-permission their whole database that is. This is a task that probably hasn’t been carried out for years – if at all.
Data ages quickly – this means that the data you could have collected 6 months ago, could now be completely invalid. Without GDPR, this could just sit in your database, gathering dust, and adversely affect the percentage of un-opens from your email broadcasts. Now that GDPR has landed, companies have to make sure their data is cleansed, analysed and purged, automatically improving un-opens and bounces.
Removing this worthless data means you are left with only interested and relevant data – which in turn leaves your company with a higher rate of likely conversions.
It really goes hand in hand; the more selective your approach is to gaining consent and qualifying leads, the more likely you are to secure a loyal, trustworthy and clean database that is actually interested in what you have to offer. The days of buying data en masse are over – now is the time for fully qualified leads who have opted in and made an informed decision.
GDPR has literally scared many companies, but we’re hoping you’re not one of them. GDPR means that any future leads you gain are high quality. The higher quality and more engaged your lead is, the more likely you are to achieve conversions.
All hail! GDPR which has weeded out the individuals who aren’t interested and highlighted those who really care. That, is how you will increase your conversion rate and build a more promising future.
Better data leads to better marketing
GDPR has created an amazing opportunity for marketers to develop more confident strategies with much better potential outcomes. Your qualified leads have chosen your company and will therefore be willing to give you more information about themselves which in turn will enhance your marketing approaches.
Customers today expect advertising to be relevant to their lives and delivered according to their preferences. Giving customers the choice of when and how they accept advertising is the future and the start of a permission-based match made in heaven.
Ultimately, since the cost of ignoring GDPR is too high, as a company, you are forced to re-evaluate the way you handle consumer data. There is no shying away from it, it’s time to embrace it and find your angle. If you’re not embracing GDPR, you’re exposing yourself to a massive disadvantage and giving your compliant competitors the edge.
At Lifestyle Media Group we understand that – we have always understood it – and that is why we have amassed a membership of over 3.5 million UK consumers who use our website at www.catalink.com over and over again to find what they are looking for. If it’s data you’re looking for – COMPLIANT – Data, we have exactly what you need.