On 25 May, the General Data Protection Regulation (GDPR) will come into force, which doesn’t leave motor traders with much time to comply with the rules.
If you don’t comply, you could receive a fine worth up to €20 million (£17.5 million) or 4 per cent of your annual global turnover, whichever is higher. However, don’t see compliance as a formidable task. Instead, view it as an opportunity to build a stronger relationship with car buyers and cultivate cleaner, more targeted marketing data.
In fact, 69 per cent of potential car buyers rely on their smartphones to research dealerships, according to e-commerce vehicle retailing solutions expert, iVendi. This emphasises the importance of adopting digital marketing practices, which will require you to comply with the GDPR. With digital marketing, you can better engage with potential car buyers, highlight the available vehicles you have and even begin discussing financing options—all before they step onto the forecourt.
However, before you begin building that rapport, you first need to be GDPR compliant. This can be a daunting task, which is why the Information Commissioner’s Office has created an assessment to help accurately gauge how prepared you are and offer the necessary steps that you need to take.
Whatever your business in the motor trade, keep things simple: only use customer data for specific purposes (e.g. MOT or service reminders), and only contact customers who have specifically consented to you doing so.
And when it comes to insuring your business, speak to the experts in motor trade insurance at ChoiceQuote. Call us on 01625 885046 to discuss your requirements.