Google’s plans for a cookie-free world have left many brands, publishers and marketers panicking. At first glance, many professionals assume that this is going to have a negative impact on personalized marketing, but that’s not the case.
With the right strategy, brands can go from mourning the death of third-party cookies to leveraging better systems (such as first-party data) for personalization.
The Downside of Third-Party Cookies
Third-party data isn’t what it used to be. Since it comes from multiple data sets, it can lead to less accurate insights than other types of data. In addition to the quantity-over-quality approach, consumers find it challenging to trust third-party data collection because of privacy concerns.
The Best Way to Collect Data
Collecting first-party data directly from consumers proves to be more beneficial for both businesses and consumers. By gaining real-time insights directly from your consumers, brands are able to personalize online experiences for visitors who are ready to engage, but reluctant to overshare personal information. This data approach leads to more accuracy, more transparency, and a better response from consumers.
How to Use First-Party Data to Your Advantage
How do you get consumers to share their information with your brand? You prove the value. The classic exchange is that consumers provide their data for more personalized experiences. Currently, most brands collect the data but don’t give value back to consumers.
Brands must go beyond adding a consumer’s name to an email template. The real value comes from using first-party data to help consumers find what they’re looking for when they’re looking for it, whether that’s a certain product or a specific piece of content.
Here are some key tips on how your brand can implement first-party data:
- Provide real and immediate value to consumers as a way of incentivizing data sharing.
- Adopt the right resources and tools to analyze data more effectively and efficiently.
- Keep consumer data private and be transparent about the ways in which you plan on utilizing consumer data.
Check out my full article, Don’t Mourn the Death of Third-Party Cookies in MyCustomer, where I go more in depth on the subject.
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