The marketing landscape is rapidly evolving in an increasingly uncertain world — understanding your customers’ changing behaviors and being able to adapt accordingly can make all the difference between just surviving and thriving. As businesses embrace digital transformation and move toward a more customer-centric model, first-party data has emerged as a crucial resource that can put you on the path to success.
This is a significant shift in perspective. For years, marketers bought up thirdparty data in a digital gold rush of sorts. Third-party cookies enabled them to learn all about potential customers through their browsing behavior, then target ads toward them all over the internet.
About 75% still rely heavily on third-party data, and about 45% still spend at least half their budget on strategies based on third-party data. But third-party cookies are going away as Google phases them out and as more businesses realize that third-party data is problematic. Smart businesses respond to third party cookie concerns by making the switch to first-party data gleaned from tracking user behavior on an owned channel. This more reliable, more meaningful type of data can help grow your brand instead of helping marketing giants grow larger. By directly collecting a wealth of customer and transactional data over multiple touchpoints, businesses like yours can compile a proprietary resource that offers clear insight into your customers, users and visitors and how they interact with your brand. This is the most relevant data you could ask for and you already own it.
Now, you just have to make the most of it.
In this white paper, we’ll look at how this shift in perspective has taken place, explore the concerns around third-party data and discover how to leverage first-party data to maximize your marketing efforts, enhance the customer experience and increase revenue.