Running ads on Facebook has become a crucial channel of marketing for thousands of businesses around the world. In general, ads on Facebook have been evolving over the years, with more custom audiences, more targeting tools, and general improvements that help the efficiency and cost of running ads.
Lately though, due to media scandals, and pressure on Facebook as a company, there will be a roll out of new restrictions and policies put in place that will definitely have an impact on how are ads are ran, and who will see them.
The first victim of this new roll out, will be anyone marketing to Europe, as under the General Data Protection Regulation (GDPR) which will be put into effect May 25th, 2018.
What is it?
The GDPR didn’t spring out of nowhere, plans for this regulation have been in motion since a 2012 European Commission initiative was created to place increasing protections on consumers personal data.
The GDPR will require a higher standard of consent for using some types of data, and broadens the rights individuals have for accessing and transferring their data. Including the ability to erase, edit or take back any of their data that may have been collected.
For example, name, location, IP address, cookie data, health and genetic records, racial and ethnic background, political opinions, sexual orientation and more will all be under full control of the individuals, instead of the companies for use in marketing.
What will it change?
Once put into effect, the GDPR plans to heavily monitor and enforce this regulation, and already has policies set in place to do just that. For example, they are requiring any companies marketing online to Europe to hire a “Data Protection Officer,” which will manage the companies data protection process, conduct internal audits on the protection process, and serve as the first point of contact for regulatory agencies.
In addition, the GDPR will require complete transparency over it’s data collection. Company data policies are required to be updated to also cover individual rights and provide immediate access when consumers request to view the information that companies have stored on them.
Additionally, all brands must provide additional protection for children’s data, including age verification, as well as parent or guardian consent whenever the child is accessing the website.
Facebook and the GDPR have made it clear that failure to comply with the GDPR will result in huge fines, even up to 4% in total global annual income.
How can you prepare?
If you’re a business that’s established in Europe, or if part of your international customer base is in Europe, it’s in your best interest to begin preparing for this regulation right now…
For any major brands or businesses looking to protect their assets, the priority should be in finding and hiring a DPO or contacting an agency with GDPR experience that can help guide them through these new waters of regulations and fines.
In addition, more company transparency will aid the process. For example, IT staff should be in close collaboration with other departments of companies to ensure everyone understands the policies and how they’ll affect the business going forward.
Lastly, as many businesses have been doing nearing the roll out date, is changing your company’s privacy policy to reflect any of the changes that will be affected by GDPR.
Conclusion
The GDPR regulations won’t make it impossible to effectively market in or to Europe, but it will sure as hell complicate things. Being educated and prepared for when the switch happens is the best course of action the business owners can take at this time.
Failure to comply with this new regulation will not only result in significant fines and government pressure, but loss of marketing revenue as well.
For any questions or concerns reach out to us here, info@visualmediamkt.com. If you’re curious about the benefits of Facebook ad agency or would like to get an idea of what Facebook can do for your business, take a look at some of the results we’ve been able to generate our clients here, http://bit.ly/VMBookAppointment.
