A major concern of the GDPR is how a company will be able to prospect for new clients without being in breach of the gathering of an individuals data - for how can you grow your data base of potential brand followers/customers if the new regulation DUE IN 10 DAYS is clamping down on the methods of doing so?
But there is ample evidence to suggest that being more selective with your data gathering and creating a smaller but more actively engaged list of contacts will be more beneficial and cost effective for the future.
Another simple hack to soften the fears of a regulatory fine or penalty is to have cyber insurance - a good cyber policy should have cover for regulatory defense costs and penalties, a key component of mitigating any unwanted and unforeseen additional cost to a data handling mishap (it only takes one disgruntled contact to raise the flag for the ICO to then investigate the entire business)
Working with a Smaller Database Email lists are likely to decrease in size as a result of the changes. Don’t panic. A smaller, cleaner database will change your marketing for the better. Once contacts have opted in to receiving marketing communications, you can be sure that they are engaged with your brand. Contacts who have opted in to receive marketing communications are more likely to be engaged with the material they receive.