It has been the shocking news of 2021 and it’s still a trending topic: from 2023 third-party data won’t be available anymore.
Initially, this created doubts and confusion in many businesses and marketers that were used to working with it but, after a long reflection, brands understood that they have an enormous potential in their hands: first-party data.
But, what are you talking about when we talk about first-party data?
First party data is the information that companies can collect from their own sources. In other words, every information about customers from both online and offline sources, such as the company’s website, app, CRM, social media or surveys is first party data.Source: onaudience.com
Do you still have doubts? Keep reading!
What is the difference between first-party and third-party data?
Sometimes it’s not so easy to undestand this difference, so we will try to explain it in a easy way.
First-party is data that businesses and brands own, because it directly came from different sources, online and offline.
These sources can be: surveys, databases, web interactions and all your marketing channels.
Can you guess which kind of information it can include?
Many valuable info, such as:
- visited websites & interactions,
- time spent on your website,
- subscription data,
- purchase history,
- behaviours and interests of your audience.
While third-party are data that came from outside your organization and that you typically collect by web cookie tracking from multiple sources, such as advertising and browsing.
Why will it be so important in 2022?
With the imminent deprecation of third-party cookies, brands need to understand how to manage and benefit from their own first-party data.
This is not an easy process, because, in the first instance, businesses should invest in the formation of their teams or find partners that can help them in this initial process and understand how to use this enormous amount of data.
Bucksense, our digital marketing agency, can be your perfect partner. We have a dedicated team of experts who can help your brand plan the right strategy and benefit from the potential of first-party data.
So, if you need help managing your first-party data, just contact us and we will find the right strategy for you.
What are its benefits?
The benefits of first-person data are various and invaluable.
If we should select the most important ones, they will be these:
- Personalization: If you know the needs of your audience, you can offer them what they really want.
- Building trust: You can increase customer loyalty towards your brands.
- Security: First-party data came directly from your sources, so you already have all the consents and, using them, you are complying with GDPR.
What are the benefits of first-party data for brands?
First-party data can have a lot of pros for advertisers. It allows brands to build trust with their audience, create more personalized experiences and it provides security.
Why is first-party data important?
The end of cookies is going to shake the marketing world and it’s a good opportunity for brands lo leverage their own data.