That is according to the findings of a new report from marketing automation provider Act-On, which reveals that over a third of marketers are still in the dark; more worryingly, the knowledge gap is even greater outside marketing departments, with just 45% of professionals feeling that their business understands the new rules and their implications.
A significant 31% of firms, meanwhile, have still not taken any action to adjust their operations or engagement strategies in anticipation of the switch, despite the imminent deadline.
And when it comes to the financial impact, less than a quarter of respondents are concerned about fines and non-compliance; 29% say they are more worried about the cost implications of their preparation and ongoing compliance.
Despite this however, the survey found that only half of all marketers plan to allocate any budget for GDPR in 2018, with half again setting aside a rather paltry £1,000 and £7,500.
Act-On head of privacy and digital compliance David Fowler said: "There doesn't seem to be an industry-wide consensus on GDPR, but it's clear that a vast number of marketers and businesses remain unprepared or unaware. It's surprising to still see such a disparity, despite the prolonged build up and wealth of support available, but the potential costs and consequences for non-compliance really can't be understated. And that applies to businesses of all sizes, from global corporations to enterprise start-ups.
"No matter how hard businesses try to bury their heads in the sand, compliance to GDPR is inevitable. Being agile and adaptive are essential components for companies, if they aren't willing to lose millions."