Now that the deadline has passed and inboxes are no longer stuffed with requests for opt-in permission, it’s time to study the lessons of GDPR. General Data Protection Regulation took effect in European Union countries on May 25, and while this moment is a challenge for brands, it’s also an opportunity.
Video marketplace Unruly conducted a story of 4,000 consumers in the European Union, U.S. and Asia Pacific, to see how they feel about GDPR, as well as issues of brand trust and privacy. Here’s a little of what it uncovered:
- 93 percent of consumers who live outside the EU wish the GDPR rules were in effect in their country.
- 63 percent of all consumers trust brands more when those brands are clear about how they use consumer data.
- 60 percent of all consumers think the majority of news they see on social media is fake.
- 76 percent of consumers will only buy from a brand they trust.
- Fewer than one-third of consumers in the U.K., Germany, and Sweden believe brands will ask permission before sharing personal data with third-parties.
Even with GDPR regulations in place, there’s a lot of distrust around consumer privacy. However, brands can turn that to their advantage. The way forward is to be crystal clear about how brands use data, as well as what kind of data they store. Consumers have deep mistrust about the whole ecosystem right now. Radical transparency is the way to win back their loyalty.
“Although the ad industry has conducted inward-looking research about preparations for GDPR, it seems little attention has been paid to whether consumers understand and want these changes. The whole point of GDPR is to put consumers back in control of their data, so we felt it was essential to find out what they thought about the legislation,” says Norm Johnston, Unruly’s global CEO said. “The GDPR is going to change the way any brand operating in Europe, and potentially around the world, communicates. At Unruly, we see this a hugely positive move that challenges our industry to hold a mirror up to itself and strive to be more transparent, authentic, and accountable to consumers.”
For more of the lessons of GDPR, including how different countries view privacy issues, download the full study for free (registration required).