The deadline to become GDPR compliant has well passed, and we’re still learning in real-time how this European Union-based data protection regulation is going to be interpreted and enforced.
And as you’ve seen personally, every company is interpreting how best to comply differently. There is no playbook, no specific set of instructions everyone can unilaterally follow.
So what does it cost to be 100% GDPR compliant? Apparently the answer is $1.8 million dollars.
That’s the cost quoted to a CMO in Seattle by her legal counsel. Given, this was outside counsel whose job is to protect the business at all costs (not necessarily to balance risk/protection with business needs). But for most businesses, $1.8 million is out of the question.
So how do you become, and stay, compliant with an overseas data protection request for a fraction of that cost?
The truth is, there’s likely no such thing as 100% GDPR compliant right now. As long as there’s still room for interpretation, nothing will be iron clad.
Your best strategy is actually the simplest. Do right by your customers. Listen to what they want. Create immense, irresistible value such that they want, they need, to continue hearing from you.
This won’t be enough for everybody. But those who choose to opt out at this point aren’t your best target customers anyway.
The more friction you find between your current strategy and GDPR compliance, the more likely you also need to look closely at whether your strategy is targeting, engaging and creating value for your customers and prospects in the first place.
I’m no lawyer, but those who get into GDPR trouble will be those who ignore and/or run the opposite direction from this approach entirely.