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Importance of GDPR for Businesses
If GDPR exists to protect customer telegram number list data, how important is it to your business and why should you comply?
It is important to note that approximately 56% of consumers said they were unlikely to trust an organization that was not fully transparent about how it used their personal data. Here is an elaborate illustration:
Image via Statista
Once you lose your customers’ trust, they may never work with you again. Here’s how GDPR compliance protects your organization from such situations and more:
GDPR compliance demonstrates your commitment to privacy and data protection. It helps you build your brand reputation and increase customer loyalty .
It encourages you to implement better data management practices in your organization, thereby improving the quality, accuracy, and reliability of your data.
Prioritizing GDPR compliance can differentiate your business from your competitors. It helps you attract privacy-conscious consumers and partners.
Non-compliance with GDPR can result in severe penalties and fines that can impact your bottom line. Compliance helps you protect your organization from losses.
Who does the GDPR apply to?
The GDPR applies to any organization that offers goods or services to consumers in European Union (EU) member states and European Economic Area (EEA) countries.
This also applies to companies that are not based in the EU but offer goods and services to, or process personal information about, residents of that region. If you have an e-commerce store in the United States and sell your products to customers in France, you must comply with GDPR regulations.