First-Party Versus Third-Party Data: What You Should Know
Using first-party data is a win-win. As marketers, you are fostering an ongoing relationship with your customers and prospects by better communicating and serving them. But there needs to be a strategy and long-term commitment. In a survey of US digital marketers by Advertiser Perceptions and programmatic agency MightyHive, respondents said they were, on average, tapping into just 47% of their company’s first-party data potential. It takes the right strategy and technological infrastructure in place to activate first-party data at scale.
First-Party Data is King
National Brands Must Take Advantage of Tech and Reap Benefits of Going Local
The marketplace is now offering media inventory that can be localized even in channels like national magazine titles. Advances in data management platforms, programmatic exchanges, and ad operations workflows allow national brands to go local at scale in order to reach customized audience segments.
How First-Party Data Can Drive a Comeback for Local Travel
Long live the road trip. Experts predict that people will largely look to visit domestic and drivable destinations because of new health and economic concerns. We’ll see more three- and four-day trips because of finances, work pressures, safety concerns, and changing school schedules. That said, travel companies, hotels, and CVBs are now considering reinvesting in marketing to local audiences. It’s time to hit the gas at this first sign of recovery.
Marketers have to think about geo-optimization because there may be pockets of travel in certain regions and an opportunity to be more fine-tuned. Larger brands that do national advertising may miss an opportunity to be more targeted on a regional basis.