60% of marketers lack confidence about getting ROI from their first-party data.
This piece says that marketers should prioritise their top sources of data while focusing on mobile app analytics, social media data, online sales data, site analytics and CRM data. Marketers can then use data management platforms to connect users’ online and offline behaviours. It can also help marketers understand cross-device attribution and audience segmentation.
The author further recommends that marketers should upgrade their ad tech stack and start adopting technologies like “Consumer Data Platforms”. Cloud sourcing CRM data can enable marketers to eliminate the need for hardware and software to extract value from it.
Brands can leverage partners like agencies and management consultants, who can help them validate the need for access to first-party data. These partners have access to powerful technologies and “specialists with experience in activating first-party data across categories”.
[4 minute read]