With the EU GDPR regulations coming into effect next May, what might the new regulations mean for agency new business?
Putting it simply, the regulations mean that no individuals data (consumer or business related) may be held on a database without that individuals express permission and if a company does hold such data without permission it can be fined quite a large amount.
One thing for sure is that the old agency blanket emails will have to stop for a start!
Something every agency new business person will need to be certain to do is to get their stock answer to the question “where did you get my name?” from. If you say, “you’re on my database” then your agency may well be in for a nasty surprise. Check if the person is on LinkedIn before calling them or Google search their name together with the company name to see if they are mentioned anywhere and give that as your reply. Or tell them you found them on something like ALF, The List or The Advertist. That way your agency cannot be held liable as you don’t ‘hold’ the data.
Another thing to consider is how you hold your new business data. Anyone who is a Baby Boomer or a Gen Xer who was in sales pre computer will remember their trusty index card system. You had two boxes. One segregated into the months of the year and one with into 1-31 for the days of the month. You had cards on which was written (by hand) the company and contact details of your prospects. You’d call them up and write notes (by hand) on the card and if you didn’t get a ‘yes’ to a meeting, you’d do whatever needed doing (such as send a brochure) and then place the index card for the prospect into the appropriate box for a call back with the date of the call back noted.
At the start of each month you’d take the new months cards out of the monthly index box and sort them into the daily box ready for the new month. This system worked very well. I used to use tiny red post-it notes sticking up from the cards to note my hot call backs so I knew what my pipeline looked like.
Wow! Maybe GDPR will see a return to THOSE days! Might be time to by shares in Rymans!!