According to a recent survey by data analytics firm Piwik PRO involving 1,800 CEOs and marketing executives from 27 European countries, 38.6% of companies’ representatives believe that compliance with GDPR has positively impacted their business.

Organisations that have successfully implemented measures to ensure compliance point to increased trust, improved customer service, enhanced data security, and even financial benefits. However, not everyone looks at GDPR with a favorable eye.

Six years after the introduction of GDPR, its impact on business operations remains significant. Companies have had to reconsider how they collect and process data, ensuring that they adhere to the regulation’s requirements.

GDPR: Easy to understand and implement? 

Two-thirds of the companies surveyed agreed that GDPR is easy to understand (in 2023, it was 73.7%), and just under 60% believe it is simple to implement.

Evidently, a significant number of companies are still struggling to grasp and implement the regulation. The results, however, vary significantly from country to country.

In the case of Germany, as many as 82.4% believe that GDPR is easy to understand, while for respondents in the Netherlands and Denmark, this number is only around 55%.

According to the data, 61% of companies have found that GDPR compliance has not brought any advantages for their business. Additionally, over 14% of respondents acknowledge that it has a negative effect on their daily operations (in 2023, it was 17.7%). The main challenges are the significant financial and time costs linked to compliance, such as the requirement to hire more staff and offer thorough training.

Additionally, large organisations often need to establish dedicated in-house teams to manage GDPR compliance, adding to operational complexity. Consequently, some businesses have experienced delays in processes due to GDPR requirements, resulting in disturbances in functionality and postponed product launches.

Harness the power of GDPR

Despite the hurdles, the overwhelming majority of respondents (83.6%) state that companies can respect privacy laws and conduct effective marketing activities at the same time.

They have embraced the regulation as an opportunity to build stronger data governance frameworks and enhance their reputations as trusted brands in the eyes of consumers. 38.6% of participants believe that compliance with GDPR has positively impacted their business.

Companies that meet GDPR standards can differentiate themselves in the market, appealing to privacy-conscious consumers. Almost 75% of the surveyed group thinks that respecting online privacy has a positive impact on business and can be perceived as a business advantage. This competitive advantage is not exclusive to the EU.

Global businesses operating in Europe must also comply, often resulting in the broader adoption of GDPR-like standards worldwide.

Fines for non-compliance with the regulations are stringent, and can be as high as €20 million or 4% of a violating company’s annual global turnover.

However, as the study shows, companies prioritise compliance to build trust with consumers (72%), rather than just to avoid potential financial penalties (15%). 52% want to be compliant primarily to reinforce company values such as fairness, openness or transparency. Another important issue was related to fulfilling legal requirements, as indicated by about 40% of respondents.

Harmonising marketing and privacy

The biggest challenges, however, are faced by marketing departments, which encounter constant limitations on data processing. This impacts their ability to personalise services and campaigns.

Despite these difficulties, 92.2% of respondents believe that companies must respect the privacy of individuals online.

As privacy has become mainstream, organisations have grown to accept it as a new standard. Companies have realised that privacy compliance is not only necessary but potentially beneficial for their business, especially for building trust with clients.

Instead of searching for workarounds or ignoring the issue, businesses have incorporated privacy into many of their core operations, which benefits the digital economy.

Piotr Korzeniowski, CEO at Piwik PRO, commented: “The days of collecting customer data without any restrictions are gone, and to achieve results comparable to the pre-GDPR era, companies need to put in more effort.

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“This is where a new generation of marketing software comes to the rescue, helping to collect and analyse data while respecting individuals’ privacy. Opting for the right solution is critical as it is the main repository for sensitive customer information.

“To navigate the challenges of GDPR compliance, businesses need to balance strong data protection with efficient operations. The regulation provides a comprehensive framework that, when understood and implemented effectively, can enhance a company’s credibility and strengthen consumer trust.”