Our Data meets all global data protection and data privacy regulations.
The main data compliance concern is that there is no generic rule that applies on a global scale. Different Countries and regions are subject to local data protection and compliance laws. The ever-scaling digital world also causes regulatory change and adds complexity. At Tree Business Solutions our teams have created a flexible compliance mechanism that updates data on demand to help you navigate the minefield of data compliance efficiently. Tree Business Solutions overcomes the regulation barrier with authentic and validated records, regulatory agency tie-ups and alert vigilance over the data marketing landscapes on a regular basis.
Different Types of Opt-ins in Use:
- Soft opt-in : Assumed consent based on previous interactions and organic contact.
- Hard opt-in : Actively provided consent by an individual through a tick box or other consciously provided statement.
- Single opt-in : One-fold confirmation of a user submitting personal details and giving consent for it to be used.
- Double opt-in : The most secure two-fold confirmation process which includes single opt-in, followed up with a triggered email containing a link to confirm the
GDPR: The Next Generation of Data Protection
The General Data Protection Regulation (GDPR) [Regulation (EU) 2016/679] is one of the most recent data privacy regulation jointly proposed by the European Parliament, the Council of the European Union and European Commission, aiming to “strengthen and unify” data protection laws for individuals within the European Union. The new regulation plans to replace the old Data Protection Directive [95/46/EC], which has been effective from 1995. The last date of implementation for EU Member States is 25th May, 2018.
GDPR applies to organizations…
- Offering goods or services to EU citizens
- Monitoring behaviors of EU data subjects
- Holding or processing personal data of subjects residing in EU
The law applies to any company whose data processing concerns private data of EU data subjects, irrespective of the company’s (processor or controller) location.
How are authorities planning to deal with non-compliance scenarios?
Data Breach Clause:
- Immediate Notification(s) to companies/individuals at risk
- Notifications to DPA within 72 hours of the breach
Sanctions
- Written warning for first ‘non-intentional’ non-compliance
- Regular periodic data protection audits
Enterprise Penalties [Article 83]:
- Maximum fine of €10 million or 2% global turnover of preceding FY
- Maximum fine of €20 million or 4% global turnover of preceding FY
Who will be the most affected?
In an abundantly competitive digital market, customers are saturated with choices. In this era of big data, regulations like GDPR are necessary tools to disperse cluttering information and establish business connections that actually matter. GDPR is a win-win for both businesses and buyers.
Building Brand Loyalty
Data subjects are aware of what value their data holds to businesses. They are also suspicious about how businesses use their data. A transparent and customer-centric regulation system like GDPR will help ease this tension and build trust and loyalty toward brands. Furthermore, subjects will feel confident to share more data.
- Database profiling must focus on customers’ individual preferences – contact subjects through their desired contact method.
- Data subjects must be opted in to receive marketing communications and so are therefore more receptive to your brand.
- Reduce campaign wastage – by targeting only those prospects that are likely to respond to your communications.
Availing the Best Helping Hand
GDPR undoubtedly places much more emphasis on the subject’s preferences. This at source data cleansing helps businesses to segment and target their buyer profiles better and allows buyers to also reach out to the right kind of sellers and vendors.
- EU Databases will be subject to various approvals and checks from subject to data processors and data controllers, as well as data regulators.
- Purpose and duration of data storage will have to be disclosed; acknowledged with double opt-in
- Cleanliness of data will have to be ensured before each campaign
Enabling Innovation
Digital Marketing is forever evolving ahead of the rules governing it. With the new GDPR upgrade, finally the regulations will accommodate fresh ideas rather than becoming a hindrance for them. Provisions within the law will allow B2B and B2C businesses to apply relevant and up-to-date marketing tactics and build valuable partnerships in the long run.