First-party data is not enough for brands to have an intimate understanding of their audiences

New Ideas in MarketingEssential news for marketers, summarised by YouGov
August 31, 2020, 4:02 PM UTC

Even if customers share their information, there is a limit to how deep brands can go.

Though marketers are increasingly turning to first-party data, as third-party cookies are phasing out, it is not sufficient for effective marketing activities. Businesses still need third-party data to deliver personalised customer experiences.

Gathering first-party data can be difficult for brands as consumers are not always willing to share personal information unless they see a direct value exchange. Defining customer profile using the first-party data alone can lead to inaccuracy, as it does not give a holistic view of the consumer.

First-party data is also not always up-to-date, and it might not tell about specific changes in consumer needs and daily habits. However, using a DMP to compare first-party data with third-party insights can help marketers get accurate and updated customer information.

Read the original article

[5 minute read]