It’s hard to ignore the impact that GDPR is already having on just about everyone in every industry. In the domain industry one group I think it likely to see some short-term impact is domain brokers. First let me say I don’t mean that domain brokers as a whole are not going to be able to sell domains, I think the top brokers will continue to kick ass and take names like they always have.
At the same time, I do think there are some complexities that are going to arise when it comes to sending out emails to an existing list of potential domain buyers, and here’s why:
A common misconception about the GDPR is that it is for European companies. In fact, the GDPR covers any company that collects data from European Union citizens, which is to say most every publisher. Publishers have liability if they have any EU citizens on their email newsletter lists. Under GDPR rules, publishers must be able to point to a specific date when a reader affirmatively consented to have their data used by publishers. That covers all email subscribers, not just those acquired after the GDPR takes effect on May 25.
Most publishers don’t have those dates on file, particularly for email subscribers they’ve had for years, which presents them with an uncomfortable choice: Send an email asking European newsletter audiences to opt back in, risking a percentage of their subscriber base dropping out, or do nothing and hope the law is enforced for bigger violations. (Source DIGIDAY)
Of course it’s relatively easy to get some part of a newsletter back, but getting 100% of the subscribers to be on solid footing with regards to GDPR will often mean asking everyone to approve their opt-in, again. I have already seen a number of emails from newsletter I’ve subscribed to warning me that if I don’t opt in, again, then I won’t get their newsletter any more.
I don’t think anyone knows what kind of attrition newsletters in general are going to see but I wouldn’t be surprised if the numbers are high. Like the quote above says, a lot of people think that this only applies to companies in Europe but the reality is that mot newsletters have European subscribers which means they need to be GDRP compliant.
What do you think? Will GDPR impact domain brokers or is this a minor challenge that we’ll all forget about a few months from now?