Marketing strategy

How to switch to a first party data marketing strategy

Most marketers are well aware of the increasing privacy regulations regarding their data collection activities. These laws, such as GDPR and CCPA, are designed to protect consumer privacy. But they’re also pushing marketing teams away from third-party data-centric strategies.

“The heart of the change is really moving from targeting consumers using third-party data to really knowing consumers,” said Giusy Buonfantino, vice president of CPG Industry Solution at Google Cloud, in his MarTech presentation.

She added: “Personalize experiences and do it in a privacy-centric way, protecting consumer choices.”

Excessive reliance on third-party data and a lack of transparency decreases consumer confidence in brands, which is part of the need for this change. Brands need to deliver personalized experiences based on the data their audience is willing to share.

Make the change in your data strategy

“Do you know how much you depend on third-party data overall? Said Brad Herndon, then of Accenture Interactive, in the same MarTech session. “Because we often default cookies here, but this goes beyond cookies now. “

These changes have the potential to disrupt business marketing activities on many levels, so it is important to fully understand their impact. According to Herndon, brands would be wise to understand the impact of these changes and determine the monetary implications.

visualization of the marketing strategy
Image: Lytics and Accenture Interactive

Here are some first steps brands can take to change their third-party data strategies.

Take inventory of third-party beacons and choose replacements. Once your brand decides to embrace a proprietary data platform, take a look at the tags you have in place based on third-party information. Review the options for their best replacements.

Create a single client identification system that can scale to support live profiles. Marketers should avoid leaving current customers behind in the midst of these transitions. Make sure these customers are assigned unique identifiers to help their online profiles live in the new environment.

Deliver omnichannel customer experiences. Brands need to focus on delivering great customer experiences at every touchpoint. This will help build consumer confidence and provide marketers with relevant first party data.

Get ahead of evolving compliance and privacy requirements. The privacy laws are here to stay. Stay ahead of the game by adopting a data collection infrastructure that respects consumer privacy.

See the full presentation of our MarTech conference here (free registration required).

Identity Resolution Platforms: A Snapshot

What it is. Identity resolution is the science of connecting the growing volume of consumer credentials to an individual as they interact across channels and devices.

What the tools do. Identity resolution technology links these identifiers to an individual. It pulls this valuable data from the various channels and devices with which customers interact, such as smart speakers, home management solutions, smart TVs and portable devices. This is an important tool because the number of devices connected to IP networks is expected to reach more than three times the world’s population by 2023, according to Cisco’s annual internet report.

Why is it hot now. More and more people expect relevant brand experiences at every stage of their buying journey. One-size-fits-all marketing doesn’t work; buyers know what information sellers should have and how they should use it. Additionally, inaccurate targeting wastes campaign spend and does not generate results.

This is why investment in identity resolution programs is increasing among brand marketers. These technologies also ensure that their activities remain compliant with privacy regulations.

Why we care The most successful digital marketing strategies rely on knowing your potential customer. Knowing what interests them, what they have already bought, and even what demographic group they belong to is essential.

Read more: What is identity resolution and how are platforms adapting to changes in privacy?

About the Author

Corey Patterson is an editor for MarTech and Search Engine Land. With a background in SEO, content marketing, and journalism, he covers SEO and PPC to help marketers improve their campaigns.