Digital marketing experts forecast that first-party data strategies will grow in 2021. This data management approach is one of the programmatic advertising trends predicted to flourish this year, seeing that Google is pulling its support for third-party web cookies.
Major players like LiveRamp and Google are already investing in various targeting and tracking alternatives. However, first-party data solutions are certainly worth considering, given their benefits when it comes to privacy and performance.
One of the most efficient ways to jump onto this strategy is through data management platforms (DMPs). PurpleClick, a trusted programmatic advertising agency in Singapore, shares how DMPs can help you market in a cookie-less landscape.
First, let’s explore the impact of Google’s cookie phase-out on your marketing initiatives.
The Death of Third-Party Cookies
Early last year, Google announced its plans to withdraw support for third-party cookies in Chrome by 2022. These third-party cookies are typically used to track and collect information on web visitors. Given that, digital marketers like you are on course to bear the brunt of the phase-out, since many targeted and personalised marketing initiatives rely on cookies.
The good news is that Google isn’t banning all cookies. In its 2021 announcement, the tech giant said that first-party relationships are vital in a privacy-first world. This means that any first-party data you gain from your web visitors will remain intact on all browsers.
Other than getting the support of Google, first-party data strategies offer a wealth of advantages to campaign targeting and performance. You’ll get full control of your data, so you can use it any way you want, as long as you’re not violating users’ privacy. First-party cookies are also immune to ad blockers and private browsers, unlike third-party ones.
So, where do data management platforms come in?
DMPs are independent platforms that let you collect, analyse, manage and activate first-party data. You can use DMPs for your customer profiles and audience building.
The Role of DMPs in a Cookie-Less World
Without third-party cookies, DMPs make an excellent alternative for your targeted advertising efforts. They gather data from various sources: CRM software, website, mobile app and email, among others. Then, your DMP organises the data to build profiles of each individual customer. You’ll get detailed descriptions of your customer segments, making it easier to deliver personalised experiences for your web and mobile users.
You can also extend the reach of your DMP beyond known customers. This means tapping ‘look-alike’ audiences that share attributes with your buyer persona, which then allow you to broaden your market reach.
Because of its audience enrichment advantages, DMP is a popular platform for programmatic ad buying. Programmatic ad buying is the use of automated technology to create hyper-targeted ads. Using a DMP, the bidding process for online ad space becomes faster and smarter.
Programmatic Ad Buying and First-Party Data
The fact that DMPs leverage first-party data also helps you run programmatic ad campaigns more effectively and efficiently. You gain a deeper understanding of your target audience and ‘look-alike’ profiles, including their shopping behaviours, past actions and purchase history.
This kind of information refines your campaign targeting and personalised messaging, which can help you foster closer relationships with your potential and current customers.
Another benefit of using a DMP for your programmatic ad strategy is cross-device campaign management. DMPs offer cross-device technology that matches profiles of your target audience across devices, allowing you to reach the right people at the right time on the right screen.
An optimised cross-device strategy not only lets you collect customer data across devices, but it also gives your audiences a cohesive brand experience regardless of what gadget they’re using.
In conclusion, Google’s third-party cookie phase-out is forcing brands and marketers to adapt their strategies quickly. Rather than seeing this change as a threat, you can use it as an opportunity to make your overall marketing strategy smarter and more efficient.
Leveraging first-party data gives you maximum control and visibility on your customer data. With the right tools and techniques, you can use this data to continue capturing, engaging and delighting your ideal buyer on any device.