4 Steps Toward Succeeding with a First-Party Data Strategy

 In Customer Data Platform, Data-driven Marketing, first-party data, Marketing Strategy, third-party data, Uncategorized

For years, brands have relied on third-party cookies to track and understand online buyer behavior, but these morsels of information will soon go away once the industry transitions away from this strategy. “Data deprecation” comes in many flavors — third-party cookie loss, new identifiers, ad blockers, privacy restrictions, walled gardens– and that’s all one big, crazy way of saying: we need to rethink our data strategy!  

So who needs cookies when you’ve got cake?

First-party data offers a more delicious customer experience. In Tealium’s latest eBook, “In a World Without Third-Party Cookies, a First-Party Data Strategy Takes the Cake,” we offer 4 key steps that help guide you towards a new first-party data strategy and keep you ahead of the game. 

Any company with a customer (so… everyone?!) collects first-party data, but without having a true strategy in place for how to use this first-party data, the information can be scattered across an enterprise, stuck in silos, and basically not doing the business any good. It’s time for brands to create a more intentional, focused and effective plan!

To continue providing the best customer experience (CX) possible, brands will have to change any strategy in place today that relies on third-party cookie technology and identifiers. A good first step is to move to a first-party data strategy

In this ebook, Tealium helps brands get ahead of the strategy game in four simple steps: 

STEP 1: Place Value on Data Collection, Identification and Consent 

Use the data you obtain directly from customer relationships – instead of buying it from a third-party or collecting it through a third-party cookie. The data will be more accurate and current, which is better for creating the right type of experiences for buyers. This ebook explores how identification is core to your value exchange/consent strategy.

STEP 2: Re-strategize your targeting mix

There are generally 3 buckets of targeting that any brand aims for; contextual, audience, and 1:1 (as in retargeting or personalization). A first-party data strategy can play a role in revisiting contextual targeting. 

STEP 3:Make your first-party data a differentiator

Every brand will still need to be effective at contextual targeting, but where you can differentiate and distance from competitors is how you can leverage your first-party data to optimize performance.

STEP 4: Facilitate a value exchange across the full customer journey, not just at the start

Thriving in the new world involves more than just acquiring new customers. Take care of the ones you already have! First-party data can help fuel the value exchange across the full customer journey – including post purchase.

 

Once the shift away from third-party cookies speeds up in 2022, we’ll quickly find out who’s ready to stand out from the crowd with relevant, timely and insightful customer experiences. Those who aren’t prepared may get left behind because… well… nobody wants a generic and one-size-fits-all experience! 

Prepare your strategy now so you can avoid trying to build a strategy from nothing in an environment where there’s simply less data available. Build a first-party data strategy today that can stand the test of time and sustain your advertising, marketing and CX campaigns. Check out the full ebook here. 

P.S. We know change is never easy, which is why we’re here to guide you every step of the way. If you’re new to first-party data and just trying to understand this whole third-party cookie loss situation, you may also be interested in checking out our masterclass series to help you better prepare. 

P.P.S. Ready to start taking action but still not sure exactly where to start? We’ve got you covered. Get a personalized demo to see first-hand how Tealium can help you start delivering a first-party driven approach!

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