You're Invited To A Very Private Party
Privacy is the new hot topic for advertisers and businesses alike as big-tech and front-line marketers work to navigate changes in how we collect, process and use customer data. As third-party cookies continue to degrade - with their ‘sunset’ on the horizon - ensuring that your business is up to speed on privacy centric measurement is a top priority so that you're not left in the dataless dark…
So why are we talking about this? In 2023, Google will phase out third-party cookies, following in Apple and Firefox's footsteps, responding to developing legislation and consumer concerns around how their data is collected and used; catalysed by rather public missteps from some big players (not naming names). The real question is, what comes next?
This article is intended as an introduction to first-party data and what it will mean for you (and us) in the coming months.
What is it and why do we need it?
First-party data is information collected directly from users, which when gathered in a GDPR compliant manner, can be used to inform conversion tracking and advertising activity. As this is data collected directly from your customers, it should be an accurate and reliable source of customer information.
First-party data sources include:
- Checkout and conversions
- Offline points of sale - e.g. front of house
Where marketers have relied on data collected from external sources (third-parties) to define and reach target users, going forward this activity will be guided by first-party sources. This means ensuring you have a database of consenting customers is fundamental for building advertising audiences and ensuring you can promote your brand effectively.
- You probably are already, but ensure you are collecting first-party data in a GDPR compliant manner.
- Ensure you are securely storing consented customer data.
- Ensure this data is accessible and segmentable for use in advertising.
- Work with your digital partner to build a comprehensive, first-party data led, tracking and campaign approach.
Privacy Centric Strategy
The new value of data
The upcoming reliance on first-party data creates a key paradigm shift in the way we currently value customer data, it is no longer just a benefit of securing direct bookings. Collecting consenting customer data will feed all marketing activity, improving performance and tracking reliability. This means that businesses and advertisers alike need to place more importance on building trusting relationships with their customers, and promote opportunities where they can share data.
As in the key steps above, it’s important that as a business you review how and where you’re presenting opportunities to collect this data. What more could you be doing to build your database and how can online advertising activity help you grow this resource?
Customer Match Lists
Using first-party data in advertising
Customer match lists are a key tool for businesses and marketers looking to integrate their data collection with advertising activities. In essence, customer match lists are files containing specific customer information, which these customers have approved for advertising use. These can then be uploaded to advertising systems as a basis for creating accurate and detailed awareness and remarketing audiences.
Using customer match lists allows you to get the most out of your first-party data, as you scale your audiences and build deeper relationships with existing and new customers. On the tech side, these lists help smart bidding algorithms learn faster, improving campaign performance.
To find out more about how 80 DAYS can help your business get ahead on privacy, get in touch.