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GDPR: 4 Things to Have in Mind for Avoiding Bankruptcy

GDPR The Europe's General Data Protection Regulation Law is one of the most awaited internet laws of all time and this is just for the general data protection when you charge money or save user's information like name, location or payment details. Even if you are not operating in the Europe, you have to make your company's website comply with GDPR as its the worldwide-web and people are not going to avoid your website in the Europe. Despite other laws of cookies and information saving in for analytics and audits GDPR is doing more great for the users. This law will help companies to give more valuable services and users to be free and have more trust on the internet while they are interacting with big brands online. Well some bloggers and marketers are saying that GDPR is not good for brands and it will ruin the ROI (return on investment) for some companies, but what I say is there is benefit for all of those companies offering paid services and selling their products. GDRP is not that bad so read what things you should have in mind to never go bankrupt after implementing the GDPR on your business website:
GDPR: 4 Things to Have in Mind for Avoiding Bankruptcy

1. Privacy Issues

As GDPR is about protecting general data of the website visitors and users, there may comes up so many issues with the privacy policies of so many websites and online services. Thus all of the big websites and platforms are updating their privacy policies. On 24 may the GDPR day I have received hundreds of emails regarding updated privacy policy pages of all big brands and they all were saying that we are updating the privacy policy just to comply with GDPR law. To follow the community and be at safe side I recommend you to update your privacy policy and send the newsletter about this update to all of your website visitors and clients.

Google in regards of GDPR is winning the game by showing paragraph about new law and making its blogging engine (Google Blogger / BlogSpot) on every blog on the platform without the permission of the authors and alerted authors about this update. This way their whole platform is GDPR enabled and fully comply with it. They also have said that bloggers and other web-marketers should show GDPR compliance on their privacy policies to stay at the safe side.

2. Double opt-in

Gone those days when you can buy an email list and send your product information to thousands of people without their permission. This is GDPR forcing us to have double opt-in option for whom subscribing to your newsletters. This means that we will get only loyal readers and customers getting our emails. This will increase the selling volume by 70% as every new subscriber (if you enable double opt-in) of your newsletter will be engaged enough with your product and service and already agreed to buy your product or spend on your services.

This is also a step forward to better privacy on the internet, as when you force a visitor to subscribe via email what you can do is just show the subscription box and ask them to put the email address and hit the enter. Congratulations you are subscribed, but this is another good way which is used by Google FeedBurner as an old tool but interestingly compliance to GDPR. How? they have double opt-in option for every email subscription:
  • First they ask people to submit their email and confirm with solving the captcha then hit the enter
  • Now they send the confirmation email and ask the subscriber to confirm their subscription
After 2nd step they start sending the newsletters about new blog posts and this is what GDPR wants you to do and give your readers/clients more control over their email newsletter subscription. In simple words stop collecting emails and start getting only your service or content related people to subscribe you which is good for you and to whom subscribing your newsletter.

3. Not only for the Europe

GDPR is the uniform data protection policy and beating all other small policies to make everybody safe in Europe but it doesn't mean that you don't have to add compliance in your website or platform when you are not operating in Europe. You have to add a new privacy policy for this law and tell your readers/clients that you are accepting GDPR and fully comply with it.

For an example, if you are giving services in the Canada region only and not selling anything to Europe but there is a search engine Google and many others which can show your website to European visitors and when they open your website there is a chance that they will buy something or gift your products to their relatives in Canada. That means they have to pay for it and when they pay you will get their payment information with their IP and more information. And if you are not telling them that you store that data and how you store it or when you remove that data with their information than you are doing it wrong. Even for a Canadian or Australian website you have to comply with GDPR.

4. GDPR Fine

There are many laws about user privacy and they are forcing to have privacy policy pages on our websites and blogs. However the GDPR is big and its fines are also big. Like when you are not complying with GDPR and working in European countries or states than you will have to face and pay the fine of 20 million euros or 4 percent of your annual worldwide earnings for last year. This is how you can go bankrupt when your are not complying with GDPR. So if you don't want bankruptcy to own your company or get you down to the earth than you should ask your manager and CEO to make your company and website comply with GDPR.

This is how you should comply with GDPR and avoid bankruptcy. If you are yet to know what is GDPR than ask me in the comments and I am here to answer your questions. Thanks for the read.
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