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Brands have long relied on data generated from external sources, and techniques like retargeting, as key weapons in their digital advertising arsenals. But given new focus on online privacy and concomitant retirement of third-party cookies, converting prospects will necessitate new approaches. Specifically, much of the data brands glean will have to come from prospects themselves. This may not be as much a headwind as it appears. A recent online poll of 1,200 U.S. consumers found 88 percent willing to share their information in return for a discount, free product or other inducement.
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Moving away from third-party data seems an enormous change. But an upside exists. Companies leveraging first-party data in advanced digital advertising programs will potentially seize a sizable leg up against rivals. Doing so will likely involve adding new first-party data insights to first-party data your company has long gathered. If, for instance, your brand uses a “Contact Us” form and prospects provide their email addresses and full names, that’s first-party data. A number of advantages flow from this ownership of first-party data, including transparency, trust and accuracy. The result should be improved online experiences for your brand’s customers.
- Pinpoint needed data. Your brand may be capturing some customer data points from third parties. Identify those specific data points, then alter your website sign-up page to make sure customers bestow that data themselves.
- Be upfront. People value brand transparency. So be forthright with visitors about how you will use the data and benefits they gain by providing personal information. Offer a free white paper or an online coupon in return.
- Employ targeted emails. When it comes to first-party data, none remains more essential than prospects’ email addresses. Build an email address list, and start building relationships with customers based on promotion timetables and buying patterns.
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