The deadline for Europe’s most significant overhaul of consumer data privacy laws is on the horizon. Today, the Direct Marketing Association has published research that finds UK marketers’ confidence in their GDPR preparations is at an all-time high. The new DMA report, titled ‘GDPR & You – Chapter 5’, found that:
- 81% of marketers are confident in their understanding and preparedness for GDPR, having steadily grown from 49% since the DMA’s first survey in 2016.
- However, one in five (20%) of marketers state that their employers are behind schedule and will not be ready to comply with GDPR by 25 May.
- Worse still, 7% state that their organisation do not have a plan in place for GDPR.
Although not being enforced until 25 May, the transition period for organisations to become GDPR compliant began two years ago. Since then, the DMA has monitored the awareness and key concerns of the UK marketing community. There is a growing belief that the benefits of the new regulations to consumers outweigh the disadvantages to businesses, with more than half (52%) of marketers believing this to be true.
While the Information Commissioner’s Office (ICO) has stated that they will be pragmatic before handing out penalties, these companies must show evidence that they are doing everything in their power to be ready. Otherwise they won’t just be receiving fines from the ICO; they could lose their customers’ trust and be at risk of security breaches, with the reputational damage posing a real threat to brand and share value.
Chris Combemale, CEO of the DMA.