By now, any organization or individual even peripherally involved with digital marketing or marketing analytics knows: Increasing consumer privacy concerns are leading, and have led, major web browsers to eliminate support for third-party cookies and trackers. This phenomenon, colloquially dubbed “Cookiepocalypse”, effectively spells the end of digital marketers’ and advertisers’ ability to rely on and utilize vast stores of third-party data—information their success may have once hinged heavily upon. You might ask: Is there a viable future for digital advertisers and marketers suddenly unable to use cookies?
The answer is yes, but it will require that digital marketers and advertisers adopt a near-exclusive focus on collecting and utilizing first-party data.
While there’s been a great deal of apprehension surrounding “Cookiepocalypse”, a greater reliance on first-party data isn’t necessarily a bad thing. Historically, first-party data has always been the most dependable (and unimpeachable) information that organizations and advertisers possess. In this new, cookie-less age, that only becomes more true.
The simple fact is…
Making a whole-scale commitment to first-party data now is almost certain to save digital marketers and advertisers a world of headaches in the future
Organizations that resist fully embracing a first-party data strategy will be forced to constantly tailor and re-tailor their marketing campaigns and approaches to contend with legal shifts and mounting privacy regulations. Further, those organizations who continue to insist upon, and stubbornly adhere to, the use of third-party data will miss out on myriad opportunities for better and increased ad personalization—by all accounts the superstar and future of the digital advertising industry.
Importantly, the organizations with a first-party data strategy will be best prepared to modernize their marketing analytics practices. First party data offers deeper, clearer insight into audience behavior, not to mention access to more/better data when compared to third-party sources. A recent report on the future of marketing analytics found that almost 50% of companies self-reported their analytics capabilities as “emerging” or progressing.” The race towards digital transformation is on. Brands that win in this complex digital- first landscape know evolution is the key to success. They will use data to inform better customer relationships. They’ll analyze performance to track and measure value added, always optimizing every consumer touchpoint and user experience.
Those organizations and marketing teams who do make an earnest pivot towards making reliable first-party data their primary focus put themselves in a position to be the first and fastest to realize the benefits of significantly improved critical processes like audience retargeting, closed-loop measurement, multi-touch attribution, and omnichannel lead nurturing. Simply put: Those organizations who concentrate their marketing efforts around first-party data now will have the advantage of having their strategies, insights, and campaigns groomed and optimized while less forward-thinking organizations scramble to keep up. The advantage of being ahead of the “cookie curve” now is not only smart, but it can also potentially pay great dividends.
Ready to Embrace the Shift Toward First-Party Data But Need Help?
No problem. If your organization is struggling to build out its first-party data strategy, or if your first-party needs can no longer be met by your current MarTech and AdTech solutions, Aqfer can help. Aqfer’s future-ready big data marketing solutions help you collect, manage, and activate your first-party data, minimizing the complexity and cost of data management and discovery while also delivering real-time insights to optimize your marketing and advertising efforts.