Level up your first-party data strategy: How to make your data work for you

by | Sep 9, 2022 | Technology

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While it feels like Henny Penny’s been crying “The sky is falling! The sky is falling!” for a few years now, the inevitable end of the cookie is quickly approaching. Yes, the cookie is, indeed, crumbling and by 2023, the cookie jar will sit empty. 

So what now? Should marketers be panicking? 

No. But marketers do need to be preparing now for a different approach to how they execute their marketing strategies. Marketers must be ready to level up their first-party data strategy. 

With big tech embracing privacy and tossing out third-party cookies within the next year, marketers who’ve pushed their data strategy to the back burner — or haven’t thought about data in a post-cookie world — will encounter major issues. 

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Why? Because they will need to rely on first-party data to deliver the personalization consumers have come to expect as a standard of service. Not all marketers are comfortable with — or have yet developed the know-how for — maximizing first-party data’s potential to target specific customers. Marketers unfamiliar with first-party data strategies will encounter major issues because consumers expect personalization as a standard of service. 

Although nearly 90% of marketers recognize the importance of first-party data, more than one-third report difficulty maintaining its quality and accuracy. 

But just because cookies have grown stale and crumbled, marketers shouldn’t despair. There’s a whole other aisle in the bakery to visit, with different ingredients like ads, chat, email and web experiences perfect for collecting and activating authentic and rich first-party data to grow revenue.

Addressing consumers’ privacy concerns

At the individual level, and certainly, in B2C transactions, consumers have become increasingly privacy-aware. While 63% of consumers expect personalization in their brand interactions, 83% worry about sharing personal information online. Hi …

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