After years of negotiations and debate, Brexit is finally happening. On January 1st, 2021, the UK officially left the EU. But what does that mean for marketing? After all, marketing relies heavily on data and customer insights, which could be impacted by the new regulations that come into effect with Brexit. Let’s take a look at how Brexit will affect marketers shortly.
Data Protection Changes
The General Data Protection Regulation (GDPR) is an EU regulation that protects customer data and privacy. It was implemented in 2018 and shapes how marketers should collect, use, store, or delete customer information. The GDPR will still apply to companies based in the UK until May 2021, when it will be replaced by its version called The UK GDPR. This means marketers must adjust their strategies to align with the new regulations from May 2021 onward.
Brexit also affects advertising restrictions within Europe. The Audiovisual Media Services Directive (AVMSD) regulates all European TV-like services, including streaming services like Netflix or Hulu and internet-only services like YouTube or Twitch. This directive applies to broadcasters and advertisers targeting customers within Europe, so any changes could greatly impact marketing strategies. Advertisers may now need two separate campaigns – one for customers in the EU and one for customers in the UK – depending on where they are based or targeting their audience.
Although there is no doubt that Brexit has created many challenges for marketers, there are also opportunities to be had. By understanding what changes have been made and adapting your marketing strategy accordingly, you can capitalize on these opportunities while ensuring you remain compliant with any new regulations that have been put into place due to Brexit. Overall, staying informed about any changes related to Brexit is important so you can continue meeting customer needs effectively even after Britain departs from the EU.