Brands, and especially marketing teams, are abuzz with the impending end of third-party cookies. But while tons of ad and marketing strategies have been built around third-party data, it’s not the only data we have access to. Big data and the ways in which it can be segmented is rich with insights.To prepare for the cookie-less world, businesses need to recognize and harness the value of their first-party data. And there is plenty of value.It’s the age-old lesson of, “Just because we’ve always done it this way doesn’t mean it’s the right way to do it now.”First party data has huge benefits compared to its third-party cousins. It’s proprietary and relevant to you and specific to your audience. It’s a gateway to getting to know your customers so you can:
Develop relevant and captivating experiences based on their preferences, and
Attract more customers like them
Companies have already been doing this, of course. Big data creates big opportunities. But the shift away from third-party cookies means that they’ll need to lean more heavily on their first-party insights. Adjusting to this change in the landscape will take some shifts in strategy and approach.And since the shift is scheduled for the start of 2022, time is of the essence. If you haven’t already launched a marketing strategy fueled by data-rich customer profiles, it’s time to get moving. Organizations that have already invested in customer profiles built from customer data platforms are at an advantage. CDPs pull data from first- and third-party sources, so they already have the infrastructure in place to effectively utilize the first-party data.