In early 2020, Google announced it would completely eliminate third-party cookies by 2022, kicking off what has been a year of evolution for first-party data. The announcement from Google, followed by similar announcements from Firefox and Safari, sent a message to advertisers that first-party data was the way of the future.
As Third-Party Cookies Trickle Out, Brands Must Maximize Their First-Party Data To Target, Track & Engage Consumers
Consumers’ growing concerns over privacy, increased desire for personalization and heightened scrutiny about how their data is collected and what it is being used for have all played a role in the demise of cookies. As a result of upcoming tracking changes, technology and data solutions that avoid relying on cookies to target, engage and convert consumers will be key to digital advertising success. But the pending sunset of cookies should not be feared by digital advertisers.
Prioritizing first-party data is one of the best ways to immediately reduce cookie usage. Plus, first-party data gives digital advertisers stronger opportunities to accurately target consumers, avoid privacy issues and fall more in-line with what today’s consumer wants. Advertisers should prepare for a cookie-less future in part by identifying the best ways to optimize their first-party data and engage users in ways that give them stronger targeting and engagement opportunities.
Here is a roundup of DMS Insights articles that highlight recent trends and evolutions of first-party data in digital advertising.
The recent decline of data management platforms (DMPs) coupled with consumers’ increased desire for personalization and authentic one-on-one connections has led to brands and businesses shifting their priorities to gathering more first-party data. Likewise, as the big four continue to face scrutiny over issues of consumer privacy and data sharing practices, consumers have become wary about how much they share and how that information is being used, giving brands yet another reason to prioritize first-party data collection and hands-on segmentation and targeting.
As the use of third-party cookies dwindles, trusted, reliable data has become even more critical to digital advertisers seeking to deploy geotargeted, local marketing strategies. MRC (Media Rating Council) location data accreditation was put in place to establish recommended practices and serve as a guide in the collection and reporting of location-based data.
With consumers’ habits surrounding media consumption continuing to shift toward seeking out more seamless and personalized options from brands online, the benefits of increased digital ad spend are becoming clear. Procter & Gamble (P&G), Under Armour and Pepsi are altering their advertising approaches in order to effectively target various audiences and leverage their first-party data to be more thoughtful with their messaging, products and services.
As part of Apple’s push for increased privacy and transparency for users, the tech company now requires all app developers to self-report the categories of data and information their apps collect, including the practices of third-party partners whose code the developer integrates into their app. The new privacy label requirement will push advertisers to prioritize their first-party data collection for use in audience targeting and personalized outreach.
For more advertising news from DMS Insights about first-party data, click here.
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