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.
Publishers (And Everyone Else), Beware Amazon
Amazon’s success comes at a cost for publishers. Its growth means that retail and CPG brands are shifting digital spend away from publishers, siphoning off a key source of revenue. How can publishers compete? Their survival may come down to better ways of monetizing existing channels like email, as well as more effective use of their greatest asset: first-party data.
The hope for publishers lies in email and the power of the email address. With email, publishers have a logged-in channel that’s virtually fraud-free. Email represents a direct relationship with the consumer and one that is detached from platform intermediaries that have unfairly claimed revenue and attribution from the rightful influencer: the publisher. And contrary to popular belief, email is still a channel where people spend over five hours a day. What’s more, email is impervious to subtle shifts of an algorithm that force a publisher to buy the right to reach people, as opposed to owning the relationship with those who have requested a publisher’s content in the first place.
Chrome Cookie Changes to Affect All—Not Just the Top Line
Google’s latest Chrome changes may sound abstract to those of us who are on the ground doing digital ad work, but they will soon come to dominate our industry. If you work in display advertising at a brand and read the announcement, I’m sure you know at some point the dynamics of the ecosystem will change. But this is going to be big — your entire set of knowledge will soon be different. You’ll need to learn how first-party data looks, is captured, and how to connect first-party data that represents intent to first-party stable identifiers like email.
Publishers Need to Pivot to First-Party Data
Rather than developing entirely new inventory strategies, which is a heavy lift, publishers can look to what they already have—rich behavioral, subscriber, and social data, most of it seriously under-leveraged. When used properly, first-party data can help publishers drive revenue in two ways—directly and indirectly. It can help them to stop working harder and start working smarter.
Biggest Tech Trend for eCommerce in 2019: People-Based Identity
If people-based identity is the new lifeblood of eCommerce, then the identity graph is its beating heart. First- and second-party data keep the heart healthy and strong, while third-party data is anemic and can ultimately lead to system failure.
Three Takeaways From DMEXCO 2018: Top Concerns in Digital Marketing
From brands to vendors to publishers, DMEXCO is a good bellwether to consider when trying to understand where things are headed. Brands taking control, data quality, and publishers getting smarter about data are key topics I kept hearing about—and for good reason.
First-Party Data is King
More and more marketers are using first-party data to eliminate wasted impressions and achieve the strongest ROI on their data-driven marketing efforts. Who doesn’t want that?
The Rise of First-Party Data: Why Quality Matters Over Quantity
For years, digital marketers have paid hand over fist in the digital gold rush for data. Instead of a tangible product, tech companies earn millions in revenue from the data they collect on previous, current, and future digital consumers. But digital marketers seeking to gobble up as much data as they can for their campaigns — while not stopping to consider the source of or methods used to collect it — are taking the wrong approach. The age-old mantra of “quality over quantity” has never been more relevant in online advertising, and marketers must quickly and fully embrace first-party data or risk their digital campaigns (and bottom lines) falling flat.