In the recent report from Act-On, it was revealed that half of UK and US marketers say the GDPR will make their marketing efforts more difficult. Marketers say the elements of the law that will have the most significant impact will be the right to be informed, the right of access, and rights related to automated decision-making and profiling.
- One-third of marketers say they do not understand GDPR.
- 55% tell the rest of their business does not understand GDPR.
- 49% of marketers are worried about the extra time compliance with GDPR will take.
The same study also reveals that 50% of the markets have allocated a marketing budget to comply with GDPR; 24% are planning on spending over $10,000, 52% are planning on spending between $1,000 and $10,000, and 24% are planning on spending less than $1,000.
For digital marketers, such expenses are minuscule compared to the hefty penalties that GDPR can impose – with a maximum fine of €20m or 4% of turnover for noncompliance. With such level of risk for noncompliance, it is essential for digital marketers and businesses to assess how the GDPR affects them and be compliant from May 2018 onwards.
Embedded from Digital Marketing Philippines
