While survey respondents agreed that the implementation of GDPR standards reinforced a responsibility to better protect their customer’s data, the issue became whether or not an organisation would seize on the responsibility and turn regulation into optimised experiences.

GDPR leaders – marketers who had not established a plan were down the path of execution and compliance – believed GDPR was an opportunity to deliver better customer experiences and to build customer trust and loyalty.

Alternatively, GDPR 'laggards' – marketers without a plan in place or far removed from the process, having no idea if a plan was in the works – remained happy to see compliance as a burden for other teams to resolve or an issue for only European-based companies to tackle.

"What marketing leaders have seized upon is the reality that trust is the currency of today’s data-driven customer engagement. Without trust, the customer will walk away from an experience, taking their loyalty and their wallets with them," says Liz Miller, SVP of marketing at the CMO Council.

"GDPR, and more specifically the frenzy of activity surrounding the compliance deadline of Thursday, 24 May, was not the end of a security conversation; it was the start of an experience transformation," Miller adds.

The white paper, titled GDPR: Impact and Opportunity – How Marketing Leaders Addressed GDPR Readiness and Compliance, is based on an online survey of over 227 senior marketing executives. What emerges is a view of best practices taken by data and engagement leaders versus the attitudes adopted by the laggards.

Among the key differences between GDPR compliance leaders and laggards are:
  • Leaders see the opportunity to secure trust, loyalty and experience. Laggards assume GDPR is someone else’s problem. Thirty-nine percent of marketers without a GDPR strategy felt the regulation did not apply to their business.
  • Leaders lean in and take part in the strategic planning and execution. Laggards wash their hands of the burden.
  • Leaders audit, assess and accelerate shifts needed across data and marketing and engagement’s technology stack. Laggards stay in the dark. Fifty-five percent of leaders had already initiated some form of data audit to fully understand where and how customer data was being stored and collected.
  • Leaders champion change on behalf of the customer. Laggards stick to the status quo. Thirty-seven percent of leaders are planning to upgrade capabilities across all data management solutions.
  • Leaders are empowered by an idea that trust and engagement are the reward for compliance. Laggards are being held back by a lack of understanding GDPR requirements.
"Savvy businesses already understand that to win customer loyalty, they must lead with transparency and consent," says Patrick Salyer, general manager, SAP customer data cloud, SAP Customer Experience. "In today’s landscape, companies are realising that trust is the ultimate currency and it serves as the foundation of all meaningful customer relationships." 

The white paper is now available for download. It is based on the input from marketers across a range of industries including retail, financial services, consumer packaged goods and consumer electronics and information technology.

Some 40% of respondents hold a title of chief marketing officer, head of marketing or SVP of marketing, whose headquarters are primarily in North America. One in four is with an organisation with revenues in excess of a billion USD.

For more information, visit www.cmocouncil.org. You can also follow the CMO Council on Twitter.