As the digital ad industry prepares to say goodbye to third-party cookies. Therefore, brands will need to reconsider how they target and engage with consumers. According to a new report by Wunderkind, 75% of marketing professionals say they are still reliant on third-party cookies. Therefore, while 48% say they feel concerned about the upcoming changes.
Google recognises that there is reticence. In June, it announced that the deadline for Privacy Sandbox – which will see the phasing out of support. Third party cookies in Chrome – will be extended to 2023 in order to give the industry prepare.
One solution for all of this is to build and develop first-party data. Therefore, create more relevant and meaningful relationships with customers.
Identifying LTV (and maintaining long-term ownership of customers)
The immediate benefit of first-party data is that hong kong phone number list it is privacy-safe, as customers have already opted in to providing it. When stored and implemented in the right way, it can also provide a joined-up view of the customer journey. Therefore, allowing brands to target customers at the right moment in their journey and with the right message.
Online retailer MandM Direct is a strong example of these benefits in action. Around five years ago, it moved from a marketing-focused approach to a customer-first strategy. Therefore, a shift which involved building that enabled the brand to create a single view of the customer.
Keeping up with complex buying journeys
One way for brands to build first-party data is by selling direct to consumers. Of course, Covid has spurred on big investment in this channel, as more consumers made the shift to shop online during lockdown. Since the pandemic, a number of big CPG companies (that have traditionally relied on third-party retailers) including Unilever and Nestle have invested in direct-to-consumer channels, opening up direct relationships with consumers, and in turn, building first-party data.
Personalis interactions (that build loyalty)
For Samsung and its consumer-facing retail brand, this type of laser-focused targeting strategy also underpins DTC strategy. John Melton, performance business director at Performics, says that creating personalised experiences from first-party data is integral to bringing customers into Samsung.com (as opposed to third-party retail sites).
“One of the really exciting things that we’re able to do through the integration of Samsung’s data and our automation approach is pushing the sort of messages that we know are going to best resonate with individual customers,” he says.
For instance, Melton says the brand can determine the model of phone somebody already owns and tailor communications to that fact, such as to promote Samsung’s trade-in programme, in which customers can swap their existing phone for a new device to obtain a discount.