Let’s talk about first-party data, baby
Let’s talk about you and me
Let’s talk about all the good things
And the bad things that may be
While we may be outdating ourselves with these lyrics, they can be relevant to this post about first-party data on how to organize, leverage, and deploy.
First, let’s define first-party data. According to Lotame, “First-party data is the information you collect directly from your audience or customers. It includes data from behaviors, actions, or interests demonstrated across your website and/or app data you have in your CRM.”
As we know, first-party data is not being impacted by the death of the cookie. But, we would like to clarify that first-party data that uses remarketing pixels from AdTech platforms will be impacted, as this is utilizing a third-party cookie.
So now what? As we are preparing for a cookie-less future, it is fundamental to collect and organize your first-party data in a meaningful way. Direct consumer data like emails, addresses, and phone numbers will not be impacted by cookies going away. The solutions that are currently being proposed by LiveRamp with its ATS and the Unified ID from The Trade Desk both utilize this first-party data as discussed here.
Based on your needs, there are solutions to help you organize your data, such as CRM (Customer Relationship Platform). When you really want to get serious, a CDP (Customer Data Platform) is where all of your customer data becomes centralized and actionable. You can read more about the benefits of a CDP in this blog post.
We have been saying this for a long time: Your first-party data is GOLD! So let’s mine that gold and leverage it to its full potential. So, how do we do that?
As mentioned above, you will need some kind of customer software, based on your company’s unique needs. For example, let’s use a CDP (Figure 1) for a reference. We have found CDPs are ideal for clients with multiple data sources, like in-store, CRM, DMP (Data Management Program), email, direct mail, etc.
By leveraging your first-party data within CDP, you can accomplish the following:
- Deliver a single view of the customer
- Impact marketing and customer experience
- Tear down data silos
- Put the customer at the center
- Create business efficiencies and outcomes
While you are discovering which customer data platform best fits your company’s needs, it is important at the same time to become familiar with each platform’s capabilities for deploying audiences. Typically, a CDP is an end-to-end solution for collecting, leveraging, and deploying audiences. However, if a CRM is your company’s solution, it can be worth noting that another platform such as LiveRamp will need to be added to activate the data across various media channels. Below, we have outlined an audit of what should be considered for deploying your first-party data:
- Does your customer platform have built-in activation with marketing channels? If so, which platforms (e.g., Facebook, Snapchat, Trade Desk, Google, etc.)?
- Will there need to be developer work to connect the data?
- Does a third-party activation (e.g., LiveRamp) need to be considered for deploying data?
- What is the time delay between platform and marketing platform activations?
All cookie-less solutions emerging so far involve first-party data, so it is more important now than at any other time to start your first-party data acquisition efforts through either media campaigns or other direct-response efforts.
Click here to learn more about how Ciceron can help you set up these acquisition efforts and get your brand ready for a cookie-less future.