“Data compliance” might not be the most exciting topic when you could be talking about prospecting hacks or the customer journey instead, but that doesn’t make it any less important or valuable for your sales and marketing strategies. And clearly, it is pretty darn important. U.S. companies alone have spent $7.8 billion on GDPR compliance […]
“Data compliance” might not be the most exciting topic when you could be talking about prospecting hacks or the customer journey instead, but that doesn’t make it any less important or valuable for your sales and marketing strategies.
And clearly, it is pretty darn important. U.S. companies alone have spent $7.8 billion on GDPR compliance (and that’s not even touching on other data privacy initiatives like CCPA or ISO certifications ). That’s no small chunk of change. With so much time and money invested in compliance, how can you use that to your advantage beyond just making sure you’re following all the rules?
If you think beyond just the basics of compliance, there are distinct competitive benefits that wouldn’t be available without it. Let’s talk about it and how it can create innovative opportunities for your sales and marketing efforts.
Streamline the buying process.
With so many people involved in big purchase decisions, B2B deals can take a long time to close. One of the most disruptive roadblocks? Getting through legal and compliance. Nothing slows down a deal quite like a prospect’s team needing to take the time and make sure every i is dotted and every t is crossed. Case in point: compliance can kill your forecasting and pipeline late in the day when a higher up drifts into a conversation and needs extra time to vet your credentials. And if that conversation happens March 29? Well, there goes your quarter.
But if you’ve done the hard work to make sure you’re compliant with the biggest data regulations and have made that clear throughout the marketing and sales process, that’s a big hurdle cleared. If you’ve already proven you tick all those boxes, then the compliance or legal team won’t need to take nearly as long vetting and approving you. That means faster deals (and more of them).
Strengthen your reputation.
Sales and marketing teams know– your reputation is everything. Data privacy issues or mishandling of customers’ information don’t just put companies at risk for lawsuits; they can also be toxic to a brand, hurting its reputation with potential customers.
On the flip side, showing that you’re on top of the latest requirements is a value-add for marketing and closing deals. Building and maintaining trust is key to winning over leads and turning them into long-term customers. When prospects know that they can trust you – and it’s proven by external means like GDPR or CCPA compliance – they’re more willing to do business with you. And creating a reputation as the most compliant in your space can win you even more new customers.
Differentiate yourself from competitors in head-to-heads.
B2B can be a tough sell, especially if you’re in a crowded space like SaaS. Often, when you’re in a bake-off with a competitor, your offerings might be super similar to each other. Any differentiator is a good thing to help potential customers choose you.
If you’ve taken more moves toward being compliant than your competitors, you have a clear advantage. You can position yourself as the better, more responsible option on the competitive landscape, which is sure to land you more deals when you’re put head to head. Flag your compliance early in the process so that it becomes an advantage for your prospect when they’re evaluating timelines and looping in external stakeholders.
If you want to take things a step further, you can even use intent signals (like Lusha’s Intent) to track searches for your non-compliant competitors. See which companies fitting your ideal profile are searching for those competitors, and use it as an opportunity to swoop in with your unique (and compliant) value prop. This gives you the opportunity to come in with an out-of-the-box outreach message that challenges them on the importance of compliance, positioning you as the wisest choice.
Make good on the promises of your company’s mission statement.
Companies often have pretty lofty mission statements making a lot of promises about things like trust, transparency, or responsibility. While that’s nice, it can be hard to prove they really mean it. And if a company acts in a way that’s not consistent with the values they’ve publicized, that can be pretty damaging.
When you prioritize compliance across the whole company, that means you can make that promise into something tangible. Doing something that’s not just required legally but is also aspirational to your company values shows prospects you care about doing the right thing, and they can trust that you mean what you say.
Build a culture of transparency that resonates with prospects.
Customers probably won’t want to share data with you if they don’t think they can trust you. They want to know what you’re going to take and how you’re going to use it. By meeting strict compliance requirements, you’re telling them exactly that. Plus, you can further advertise your compliance via social proof – you can add certifications to your website, social media, even email footers.
And radical transparency sells. Creating a culture of transparency leaves no room for misinterpretation, allowing your potential customers to know that their data is safe with you – and that by using your service, they won’t be getting themselves into any hot water.
Getting compliant can be tough. There are a lot of requirements, and it can take a long time to make sure all your ducks are in a row. But there’s a reason it’s worth the effort – and it’s not just to cover your hide and make sure no legal trouble comes for you down the line (even if that’s a pretty big incentive). Sales and marketing teams can take advantage of tangible benefits that come from being in line with the latest privacy and data requirements.
Key Takeaways:
- Data privacy compliance isn’t just a legal matter; sales and marketing teams benefit too.
- Compliance is a marketing strength that positions you as trustworthy and transparent.
- Proving you’ve made the effort to be compliant can speed up decision making processes when facing off with competitors or undergoing review from your prospect’s legal team.
We'll help you understand if Lusha can solve your business needs.
