New B2B Email Marketing law could mean the end of B2B marketing as we know it…
This is bad news for small or medium sized businesses (SMEs) if the new amendments on B2B marketing will be enforced.
Recently, the LIBE Committee has voted that B2B corporate marketing will be required to have an opt-in consent. The LIBE Committee are responsible for legislation such as ePrivacy. The assumption is made because the text does not refer to any other legal basis for processing data under GDPR i.e. Legitimate Interest.
This is part of the proposed amendments that the LIBE committee has submitted. While these amendments are at this stage only a proposal that will be revised and taken to the EU Parliament for debate, the repercussions could be devastating if the new amendments become part of GDPR.
As we get closer to the GDPR deadline, concerns about the potential impact of the GDPR legislation have been rising. B2C orientated businesses have felt the brunt so far. Meanwhile, we in the B2B sector await official confirmation from the ICO regarding the impacts on the B2B environment. However, with this news comes a gloomy future indeed. Changes made this late in the process are harder to influence and less likely to change. According to the DMA, this will result in advertising revenues plummeting, due to the lack of consent for cookies online. This will also affect businesses, especially SME’s that are just entering the market.
Before panic sets in, this is by no means set in stone. We are still uncertain of how this will affect the industry, the amendments that the LIBE committee will put forward will be reviewed and voted upon again by the EU parliament. Under the current regulations, many businesses process data and communicate with their customers under conditions relating to “legitimate interests”.
The scope of damage from such a change in law would be devastating to many businesses in various industries, including our own. We are taking pre-emptive steps towards GDPR and we will bring out more information when we can offer it.