Many of you will be looking at the title of this blog and asking: what possible benefits can the GDPR have to my dental practice? The GDPR has caused nothing but headaches and problems for most businesses. Every business in the EU or that serves customers in the EU has had to audit the personal data they have on their customers, update privacy policies, change the way they gather consent from their customers to send them marketing material and regain consent from customers they currently market to.
However, there are some benefits to GDPR believe it or not.
1. Reduce Maintainance and Storage Costs
All the data that you collect, or currently have, needs to be stored in some way and most of the time this would be on a hard drive. Therefore the more data you have the more storage you require, which costs your business more money. In addition, the equipment needs to be maintained to prevent the loss of this data, which again costs money.
Therefore by auditing your existing data and removing any redundant or obsolete data, you will be decreasing the amount of storage and maintenance you require and therefore your costs.
2. Improving Customer Confidence and Trust
In today’s world, consumers are highly suspicious about how their data is being handled by companies. Facebook’s data scandal, which occurred a couple of months ago, increased people’s concerns over how their data could be gathered and misused without their consent.
The GDPR helps businesses become more transparent about the data they collect from people and how it is processed. This helps to increase the trust that people have in these GDPR compliant companies as they have a better understanding of the use of their data and more control over it.
3. Improved Marketing Return on Investment
Another important part of the GDPR is for businesses to prove that they have gained explicit consent from their customers to send them marketing material. A lot of businesses used a prechecked marketing consent box in the past to be able to use a person’s information for the purposes of sending them marketing material. However, this became no longer legal and businesses were asked to gain explicit consent from their existing mailing lists in order to be compliant.
Many businesses saw their mailing lists shrink to a fraction of what they once were, but is this a bad thing?
Cleaning up your mailing list leaves you with customers that genuinely want to hear from you. It is these customers that will likely buy your products and services and help to improve the overall metrics such as click-through rate and conversions of your future mail campaigns.
Overall, the GDPR has caused a few issues for businesses but there are a few benefits it has also provided to businesses.
Inspiration from Forbes