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This gives you the power to analyze how consumers interact with your brand so you can improve the experience you ’ re providing .
brand then creates its own unique data pipeline which becomes the lifeblood of effective advertising and great customer experiences , even after the loss of the third-party cookie .
Shifting to a first-party data strategy will likely be driven by a Customer Data Platform ( CDP ) which makes it easier to aggregate a single view of the customer and action insights . There is no single replacement for third-party cookies , so CDPs and the like need to be supplemented with the right technologies . You need to invest in a solution that handles customer information , meets privacy compliance and promotes crosschannel personalization the best way for your brand . getting something in return . First-party data is a direct value exchange , so customers need to understand why they ’ re giving marketers their data and that convincing will take a unified group within organizations to achieve .
The brands that will be most successful in building trust with customers are the ones that present the choice of data profiling and usage genuinely and articulately . If brands can show that they are responsible with customer data and are using it to improve their experience , rather than just the bottom line , customers will be more likely to trust and remain loyal to them .
For example , ask-and-answer formats are great ways to facilitate clear and direct value exchanges ( consumer information for exclusive content or discounts ). Social experiences based on usergenerated content can provide valuable insight on audience behavior , likes and dislikes . Gamification is a tried and tested method for getting personal data as well . Overall , interactivity is key . If businesses are able to get first-party data in a compliant and effective manner , they ’ re on the path to getting the first-party data strategy right too .
Once you have an understanding of the first-party data you are using and how you ’ re going to do it , the next step is to change the reality of the work environment by educating and preparing employees for a first-party data future . Arguably , this is the make or break of your first-party data strategy . What ’ s the use of having a car if you can ’ t drive it ?
Building trust in your brand with consumers
First-party data is worth its weight in gold , but the customer doesn ’ t just willingly hand this over without
If 2020 was any indication , now is the time to establish new ways of working . CMOs need to address the evolution of digital advertising now and need to be thinking about maintaining performance over the next 12 months as we see third-party cookies come to an end .
Start by implementing new data collection approaches to encourage consumers to provide their information with a value exchange that can be maintained and ensure the whole business can do this well . While 2022 may seem far away , now is the time to build trust in your brand with consumers . p
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