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How To Harness First-Party Data & Win In A Cookieless Future

How prepared is your organization for the imminent loss of third-party data?

Are you ready for first-party data to take center stage in your marketing strategy?

Maybe you’re feeling unsure of how to use first-party data?

While cookies going away will reduce your access to third-party data, you can still strike the right balance with your acquisition strategies and provide your customers with high-converting, personalized experiences.

On April 27, I moderated a webinar with Vishal Maru, Vice President of Digital Solutions at iQuanti. He explained how enterprises could embrace the power of first-party data and better connect with their customers.

Here is a summary of the webinar. To access the entire presentation, complete the form.

How Advertisers Will Be Affected

The changing privacy landscape has a dramatic impact on the digital marketing ecosystem and is caused by:

  • A change in customer mindset.
  • Privacy regulations, such as GDPR, CCPA, etc.
  • Privacy changes from key players, such as Google & Apple.

[See the full impact of privacy changes] Instantly access the webinar →

What This Means For Advertisers

The reduction and removal of third-party data has the potential to cause:

  • Ineffective targeting.
  • Challenges with measurement & attribution.
  • An inability to track reach and frequency.

These all lead to lower campaign efficiencies, lower advertising ROI, and scale limits.

Why First-Party Data?

First-party data is the only sure solution during these uncertain privacy changes, in terms of:

  • Accuracy.
  • Relevancy.
  • Availability.
  • Cost-effectiveness.

[Learn how first-party data can still provide incredible value] Instantly access the webinar →

How To Leverage First-Party Data Effectively

The great news is that first-party data already exists within your organization and marketing database.

The key is understanding how to locate, use, and implement your owned data:

  1. Segment.
  2. Actively increase ways to build first-party data.
  3. Optimize for profitability.
  4. Create partnerships to leverage second-party data.
  5. Personalize.
  6. Gather consent.

Key Components For Building A Strong First-Party Data Strategy

  1. Build a robust first-party data and MarTech infrastructure.
  2. Effectively leverage first-party data for digital activation.
  3. Effectively leverage first-party data for measurement and attribution.

[Learn exactly how publishers & retail segments are doing this] Instantly access the webinar →

How To Build A Roadmap For Implementation

Organizations face challenges with effectively leveraging first-party data for digital marketing.

These challenges are:

  • Organizational & data silos.
  • Lack of in-house capabilities.
  • Lack of effective full-funnel activation strategy.

Steps To Overcoming Challenges & Building A Roadmap

Step 1: Build a first-party data strategy.

  • Break organizational and data silos.
  • Come together to build a first-party data strategy (including identifying all data sources, data cleaning, mapping across the customer journey, and opportunities for building data).

Step 2: Invest in a robust infrastructure.

  • Use onboarding platforms – CDP, CMP, ID Resolution, personalization, GMP, etc.
  • Build a connected infrastructure.

Step 3: Build or augment capabilities.

  • Utilize data science, advanced analytics, and platform-specific (CDP, personalization, etc.) capabilities.
  • Augment resources.

Step 4: Activate first-party data effectively.

  • Segment for prioritization & personalization.
  • Take a full-funnel approach.
  • Leverage AI/ML for an advanced strategy (for example, predictive audiences).

[Find out how to get a first-party data self-assessment] Instantly access the webinar →

[Slides] How To Harness First-Party Data & Win In A Cookieless Future

Here’s the presentation:

How To Harness First-Party Data & Win In A Cookieless Future from Search Engine Journal

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Image Credits

Featured Image: Paulo Bobita/Search Engine Journal

Credit: Source link

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