In addition to the above, we will mention separately one of the biggest differences between GDPR and Mexican law: the legitimate interest, this means, the reasons why the company collects personal information. The GDPR does contemplate this data controller interest as one of the conditions for the legitimate processing of personal information, but Mexican law does not. In the Mexican law, there is a tacit consent, except for the processing of sensitive information such as racial origins, present, and future health, as well as genetic, religious, philosophical and financial data.
It should be noted that outside of the European Union, Mexico is one of the most advanced countries in terms of data usage regulation.
"And what happens if I do not comply?"
The GDPR fines for non-compliance are approximately 23,440 million dollars or 4% of the company's annual revenues, depending on the infractions committed. Furthermore, if a European citizen demonstrates that a brand is misusing their personal data or breaches the privacy terms, it will be exposed to public humiliation by European authorities, which results in a loss of reputation and income loss.
"How can I make sure that I comply with these regulations?"
To do this, the first thing you should do is to have a document in which it is detailed the following:
- The data you collect will be used for which purposes?
- What security measures do you apply for this data
- How long will you store the data
- Constant evaluations of security measure
Likewise, you must:
- Have an inventory of data and record all the internal and third-party processing of European personal data.
- Notify your clients if you have suffered a security breach or if the data was compromised.
- Guarantee the right of your clients to access, correct, port, erase and oppose the processing of their data.
- Periodically evaluate data security protocols.
GDPR benefits for brands
With so much regulation, obligations and changes, the outlook is not very encouraging for brands, but not everything is negative.
If you comply with the regulations, you can get benefits such as:
- Analyze impartially your brand's security level.
- Ensure the continuity of the business.
- Detect security risks that could lead to a hack, theft or cyber-terrorist act.
- Apply improvements in your company.
- Avoid monetary losses and damage to your brand image.
- Stimulate your investors and customers.
- Prevent illegal data commerce.
Will GDPR change the way you do business?
According to all the above, it is a fact that if you do digital marketing and collect data from your customers you must implement several changes to avoid incurring a crime, according to European regulations, but the consequences of GDPR go further, for example:
- Cloud information: since much of the personal data is processed with this type of services, they are vulnerable to attacks, theft or leaks from anywhere in the world. Companies should invest in training their employees to ensure their protection. Be careful, because we are not only talking about sensitive customer data but also about the employees.
- Hardware: taking into account that your brand is responsible for data management of your customers, if you use or sell any hardware or gadget that connects to the internet or with other gadgets via WiFi or Bluetooth, you must guarantee 100% that these devices will not be vulnerable to hacks, thefts, and other security problems.
- Cryptocurrencies: If you plan to use this way of making economic transactions on the net, it is very important that you bear in mind that you will surely be the target of attacks or attempted attacks in the near future.
- Blockchain: same case as cryptocurrencies, because although this method of transactions is safe to date, this is not a guarantee that it will remain that way forever, so you must protect yourself by complying with the regulations in case of facing any vulnerability.
International regulations, from Mexico, from Europe or wherever they are, are aspects that you should consider as they could affect your brand, especially if you do business outside the country. Take into account that data marketing is one of the most important branches of digital marketing to predict the behavior of your consumers and guide them to a particular action, but if you perform data processing carelessly, you can incur crimes, loss of reputation and other critical drawbacks.
Remember that you can always approach us for advice, we will help you create the personal data protection strategy of your customers, talk about your crisis management and implement together the mandatory changes in digital marketing.