GDPR-complaint companies outdid their competitors across all metrics.
A Capgemini report cited in this article states that complying with the EU’s GDPR has helped organisations outperform their non-compliant counterparts by an average of 20%. The GDPR compliance has resulted in “unanticipated benefits”, such as greater consumer trust, better engagement and revenue growth.
GDPR-compliant firms witnessed better consumer ratings, trust, employee morale, lead quality and overall brand image in comparison to those who lagged in compliance. Retailers saw an increase in loyalty program participation, online transactions and number of consumers targeted in campaigns.
A significant outcome of these findings was that adhering to these privacy terms didn’t hurt businesses in the EU, instead they improved performance. By extension, a similar benefit is expected for CCPA-compliant companies in the US.
[2 minute read]