The GDPR is Coming! What It Means For You And Your Business

E-commerce allows for scalability and immense growth if you play your cards right, but this growth comes with a price! As you branch out and start selling in other countries, you need to learn how business is conducted there and most importantly, you need to follow the rules.

Enter the GDPR….

What is the GDPR?

The GDPR is an acronym which stands for General Data Protection Regulation. It is Europe’s data privacy law, and it has been fleshed out by the EU and will take effect soon. When signed into law, the GDPR will become the most comprehensive data law on the planet, it will affect all business in Europe whether small or big, and it will influence how businesses collect data from consumers, including e-commerce businesses.

Even if you don’t do business in Europe, you still need to prepare for it because you may not be based in Europe, but the GDPR will affect you if you have European customers!

How does it work?

The GDPR gives more power to the customer over their data, allowing them to access all their information, change it, delete it, correct it or even prevent organizations from accessing it. So, essentially, with the GDPR in place, you need to be more careful about how you obtain and process people’s data.

What does this all mean?

The GDPR now puts you in charge of protecting your customer’s data and will hold you accountable if anything goes wrong. There has to be transparency when you collect and process people’s data. Under the GDPR, you will need consent to access or process your customer’s data. For example, a customer in the EU might email you and demand you clear out his/her purchase history from your store, under the GDPR, you must oblige this request.

What will happen if I don’t comply with the GDPR?

There will be consequences for failure to comply with GDPR policies. The Supervisory authorities in charge of enforcing the rules could fine you 4% of your global annual turnover. Your business reputation may suffer, and you will lose customers. If you’re in doubt of this, just ask Mike Zuckerberg 🙂

When does the GDPR take effect?

The GDPR will become effective starting May 25th, 2018.

What to do before it kicks in?

To get ready for the GDPR, you need to begin to make some updates to your business:

–    Revisit your privacy policy and your customer disclosures

–    Ensure third-party apps that you use are complying with GDPR rules

–    Consider appointing a Data, protection officer

–    Consider documenting data protection impact assessments

–    Consider revisiting methods used to obtain data and ensure they comply with the GDPR

–    Ensure you obtain consent from your customers before processing any of their personal data

–    Re-evaluate your business and determine if you will be able to comply with the GDPR rules.

Because every business is different, these aren’t hard proof steps to take for the new GDPR age, but they’re practical things to do to get you ready. The best advice here will be to consult with your lawyer so that you have a full proof backing and understanding of the GDPR and how it will really affect you.

In the wake of Facebook data privacy scandal, it is only logical that even more countries will begin to tighten the rules on data privacy in order to protect their citizens. This is one of the perks of living in the 21st century, to survive; we have to keep up with the trends, even if that trend is new data laws.

 

Keep selling guys!

========

P.S. Upgrade to VIP Club and Unlock All The Videos and Tools. Instant Access and $1 Easy Trial

Last Wall Comments

 
50.0000
1
 Cyril says at 22:25 et
Do you recommend to ship all by express if i am just starting?
 
6
Claudia says at 07:39 et
No, it would be too expensive. I suggest that you follow 20-80 rule. 20% by air express to get stuff fast for FBA launch and rest by sea freight (slower but cheaper). When your sales pick up, the sea shipment will arrive to Amazon
 
50.0000
6
 Victor says at 21:36 et
What app allows to share reviews on facebook?
 
50.0000
 Evan says at 21:36 et
Check www.yotpo.com, Judge.me, Stamped.io (recommended) also SocialShopWave - lets collect more ratings and reviews by giving your customers a beautiful, simple, mobile-first reviewing experience. You can embed reviews into blogs, facebook etc
 
50.0000
8
 spooky says at 21:39 et
GUYS!! Best app for getting new sign ups for our newsletter???
 
50.0000
 Aria says at 21:40 et
Try Beeketing, SumoMe, MailChimp, OptinMonster, Klaviyo, Wheelio, Mailmunch, Pixel pop, coupon pop!
 
50.0000
15
 Emma says at 21:40 et
Try to build your list! For example run Facebook ad campaigns for newsletter sign ups , offer free desktop and mobile wallpaper, or how-to report. People have to put in their email, then we have a trigger set up on MailChimp to email all new subscribers the link for the wallpaper or report, plus we insert suggested products in the email. We get 300-400 sign ups a day at like 0.1 an email. Works like charm!
 
50.0000
 wing11 says at 21:40 et
Use Privvy for the popup, and the email coupon code autogenerated from Mailchimp. It's a nice combo.
 
50.0000
13
 Mister A says at 21:45 et
Any tips on choosing right product for FBA?
 
Claudia says at 21:45 et
Have you watched the video about the rules on choosing the product? in short, choose a small and lightweight product, not easily breakable, not a complex electronics, avoid patented stuff, price range 20-50 usd, make sure DEMAND is there and check with best seller tool!
 
50.0000
3
 Highlander says at 21:46 et
What categories are best for white labelling busienss?
 
50.0000
4
 lou says at 21:46 et
Sports and Outdoors, Home & Kitchen, Patio, Lawn & Garden and Pet Supplies.. Avoid Appliances, Electronics, cameras, jewerly, music and watches
 
50.0000
8
 Bogdan says at 22:26 et
What should I put as the "Ship From" address in seller central when I'm building the out the shipment and the carton labels? And how do I determine which fulfillment center to ship to?
 
50.0000
4
 Uncle Sam says at 22:27 et
Ships from - your factory or your sourcing agend address. fulfillment center is decided by Amazon not you! (when you create a shipment)
 
50.0000
6
 Mother Wit says at 23:06 et
Hello everybody. I've been watching the SLHK group for some time with the intent to start my own FBA business... Sexual Wellness category, where will i be allowed to promote?
 
50.0000
5
 Samuel says at 23:07 et
Maybe CPC banner on adult sites and link it to your listing
 
4
Sathaporn says at 12:15 et
How about www.virtualoffice.com vs www.usa2me.com? Is there same service for US address right?
 
50.0000
8
 Mike says at 12:16 et
yes you can use those.
 
5
Sathaporn says at 14:06 et
OK, Thank you!!
 
6
Zaharey says at 05:23 et
Hi Claudia..

Does your store (mybestfriend.store) is Everything Store or Niche Specific Store?
 
8
Claudia says at 05:24 et
It's "everything dog related store". Niche specific store would be "Dog's Frisby Store" "Pug Toy Store" or "Dog Halloween Store"
 
3
Ernesto says at 03:39 et
how much should i charge for international shipping for "free + shipping offers"? If a client buys a "free+shipping offer" directly from my site more than once - how much should i charge for every "free+shipping item" added?
 
50.0000
6
 Lane says at 03:41 et
It's hard to say without knowing your product, location or shipping costs how much you should charge. Best tip here is see what competitor is charging so you will get a rough idea. Maybe $19.95 for a Tshirt or $9.95 for a Mug

I don't see a need to limit the amount of "free+shipping item" as long as you are making profits and have good margins
 
9
Ernesto says at 06:36 et
Thank you Lane!
 
4
Jay says at 11:46 et
i am quite confused with driving traffic i keep hearing multiple people say different things do you recommend i start with Instagram influencers or FB ads? if FB ads do i start with conversion Ads and make multiple ad variations with one interest per variation? Just need some clear direction. Thanks
 
50.0000
9
 Mike says at 11:47 et
You can do both of course, no need to limit just to one source.
FB ads I made several videos showing step by step what to do, yes start with multiple ad variations with one interest per variaton and see which converts better and then kill bad ads and scale up good ones!
Influencers is also good. Famebit etc.
 
50.0000
4
 Mike says at 08:27 et
New video added (NEW!) Visiting Coffee Factory Insights & Tips
Today we are in Guangzhou, an industrial city in China and visiting a
Coffee Maker Factory that is producing coffee makers for the top
European brands. We will see the production, show you real life
insights on how Chinese factories look and work, what questions you
should be asking when visiting your supplier and what quality control
is in place. Great insights from the real Chinese factory!

As a bonus we are sharing great tips for Amazon FBA sellers.

Visiting China is not required but will put you ahead of competition
if you really go extra mile and visit your suppliers and establish
personal level of trust with them. It's much harder for supplier to
scam you and provide poor quality if he knows that you can just hop on
the plane and visit their factory in person next day to check the
quality! Trust me, it works!
 
50.0000
5
 diego says at 08:28 et
where to see it Mike??
 
50.0000
3
 tom says at 08:30 et
In China with Love series (BONUS) http://sellslikehotcakes.co/videos.php
 
50.0000
4
 Samuel says at 07:53 et
great video!
 
6
GERRIE says at 08:26 et
I would love to go to the Canton Fair. Do they contract with Dropshippers?
 
50.0000
7
 Mike says at 08:27 et
Yes many of the factories are glad to be a dropshipper.