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Brands need multiple solutions for a strong first-party data strategy

This article was based on the interview with Carl White of Nano Interactive by Greg Kihlström, MarTech keynote speaker for The Agile Brand with Greg Kihlström podcast. Listen to the original episode here:

In the post-cookie world, where consumer data privacy concerns are at the forefront, relying on a single solution to comprise their first-party data strategy is not enough. Advertisers need to diversify their strategies and invest in multiple solutions to effectively navigate the changing landscape of digital advertising.

One of the first steps brands need to take is developing a first-party data strategy. First-party data refers to the information collected directly from customers, such as their preferences, behaviors, and interactions with the brand. This data is valuable as it allows brands to personalize their marketing efforts and create targeted campaigns. By focusing on collecting and utilizing first-party data, brands can establish a direct relationship with their customers and reduce reliance on third-party data sources.

Another crucial aspect is gaining customer consent. With privacy regulations such as GDPR and CCPA in place, brands need to ensure they have explicit consent from customers to collect and use their data. This means being transparent about data collection practices, providing clear opt-in options, and giving customers control over their data. By obtaining consent, brands can build trust with their customers and ensure compliance with privacy regulations.

However, with the deprecation of third-party cookies, brands need to find alternative ways to gather relevant data. This is where multiple solutions come into play. The podcast transcript mentions several potential solutions, such as clean rooms, scaling first-party data, and AI-led contextual targeting. Clean rooms refer to secure environments where data can be analyzed without compromising privacy. Scaling first-party data involves leveraging existing customer information and modeling it to the post-cookie world. AI-led contextual targeting focuses on understanding the context and semantics of content to predict user intent without relying on personal identifiers.

There is no one simple answer to the challenges brands face in the post-cookie world. It requires a combination of strategies and solutions. Brands need to invest in knowledge and understanding of the problem, as well as proper investments in multiple solutions. Advertisers should not solely rely on platforms like Chrome that still support cookies but should explore other options and diversify their approach.

The biggest hurdle to brands being ready is the lack of knowledge and understanding of the problem. Many brands may not be fully aware of the implications of the post-cookie world and the need for privacy-conscious advertising strategies. Additionally, there may be a lack of resources and investments in implementing multiple solutions. Adapting to these challenges requires a proactive approach, staying informed about industry trends, and being willing to invest in privacy-focused solutions.

A strong first-party data strategy that takes into account consumer data privacy is crucial for advertisers in the post-cookie world. Brands need to develop a first-party data strategy, gain customer consent, and find alternative ways to gather relevant data. Additionally, marketers need to rethink their approach to personalized customer experiences in a privacy-conscious manner. Adapting to these challenges will require innovation, transparency, and a customer-centric mindset. By prioritizing privacy, advertisers can navigate the changing landscape of digital advertising and continue to deliver effective campaigns while respecting user privacy.

House of the Customer by Greg Kihlström is now available.
House of the Customer by Greg Kihlström