The days of marketing and CX strategies that are primarily based on third-party data are coming to an end. Third party data initiatives are under pressure and will continue to be for the years to come. The era of third party data being your first weapon of choice seems to be over. The main reason? Increasing privacy regulations and customer privacy initiatives that put pressure on third party cookies.
Most popular web browsers are cutting, or at least drastically reducing, their support for third-party cookies. This is a reaction from tech providers to create more customer privacy and increase transparency on where data is being shipped off to.
This means that marketers are facing a radical challenge. Or should we say opportunity? Data management will evolve as user consent and positive value exchange will become core and brands will have to rethink their engagement standards (i.e limiting retargeting, finding new ways of measuring performance, etc). Gone should be the days of endless retargeting to which marketers all too often resorted but which frustrated countless customers. Enter value added customer experiences.
To face this challenge marketers will need to turn to First-Party data and the technology that allows marketers to manage it properly.
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