By 2024, there will be no third-party data to rely on. According to Google, third-party cookies will no longer be available. Advertisers will not be able to track web activity as they have been. They will now have to use first-party data for gathering consumer information and targeting. We discuss the change and how brands can better protect their business and customers using new data collection strategies.
THIRD-PARTY DATA
Third-party data is sold to marketers when consumers are unaware of the situation. Although this practice has given businesses a bad reputation, it provides data useful for understanding consumer behavior. The problem is that it has errors that could lead to ineffective audience targeting. Which then leads to wasted marketing dollars and exposes the business to privacy risks. There is now an increase in data laws which is leading big companies to turn away from third-party cookies.
FIRST-PARTY DATA
With no third-party data to use, companies must now use first-party information. First-party cookies are collected through the website you visit. It is stored by that domain and is not shared with other companies or advertisers.
This information comes directly from customers. Therefore, trends and forecasting will be more accurate in predicting your audience’s behavior. Using first-party data will help develop marketing campaigns that better align with consumer preferences.
COLLECTING FIRST-PARTY DATA
With first-party data, your business is responsible for collecting information about your consumers. The strategy you use will depend on your type of business. Here are some ways you can collect information:
- Landing Page
- Marketing tools like Google Analytics
- Customer Relationship Management
- Customer Data Platform
- Social Media Platforms
When you collect first-party data, there are privacy regulations you have to follow. You must inform consumers how their information is going to be used. You also need to provide an opt-out option. In the process, it is essential to provide the consumer with something of value in exchange for their email. Here are a few ways you can do that:
- Email Marketing
- Landing Pages & Paid Ads
- Social Media
- Loyalty Programs or Membership
- Offer Free Content
- Surveys
- Registration Forms
- Create a Network of Leads
The end of third-party data is quickly approaching. Now is the time to plan your first-party strategy. You can map out how you will collect data and determine ways in which you can better target your audience. The more you know about your customers, the more you can improve the customer experience, and first-party data can help.
Fusion One Marketing is a full-service digital marketing company headquartered in Birmingham, AL. Fusion One specializes in Local SEO, Social Media Marketing, Pay Per Click, and Website Designs. Fusion One Marketing was created in 2011 with its primary focus on helping small and medium businesses navigate the digital marketing world. Our goal for businesses is simple “More Calls – More Businesses.”
For any questions about this info or the services we provide, please contact us for your Free Digital Consultation.
