By 2024, marketers will no longer be able to track consumers online using third-party cookies. This change has been a long time coming, as Apple's Safari and Mozilla's Firefox browsers blocked third-party cookies (and Google didn't move as quickly) several years ago. Initially, Google committed to 2022, but they delayed third-party cookies’ death until 2024.It is a big deal for marketing and advertising, as cookies have been used for decades to track consumer behavior across the web. Without them, targeting ads and personalizing content will be much harder. However, there is a silver lining: this change has drastically shifted the importance of first-party data.First-party data is information collected directly from consumers, typically through interactions on a company's website or app. These include data like product registrations, browsing behavior, and user engagement. Because first-party data is collected directly from the source (i.e., the consumer), it is much more accurate and valuable than third-party data.As a result of the impending cookiepocalypse, marketers will need to double down on their efforts to collect first-party data. This can be done through strategies like building a robust email list, developing personalized digital experiences, and offering additional product information through QR codes (both in the aisle and on packaging). By doing so, companies will be able to weather the storm and continue delivering relevant, targeted content to their audiences – even without cookies.While the death of third-party cookies may seem like a challenge, it’s also an opportunity for marketers to connect with consumers more meaningfully. First-party data provides more accurate and actionable insights, leading to better customer experiences and more conversions.
What is First-Party Data?
First-party data is information a company collects about its customers through its channels and interactions. This data is collected directly from the customer rather than bought or leased from a third party. First-party data is highly valuable because it gives companies a direct view of their customers’ wants and needs.
There are many benefits to owning your customer data, including:
Improved Customer Insights
When you own your customer data, you have a direct view of their wants and needs. It allows you to create more targeted marketing campaigns and improve your understanding of your customers. With this knowledge, you can provide them with a better overall experience by delivering the products and services they want.
Better Data Quality
When you collect data, you can be sure it is of the highest quality when you control how the data is collected and stored. Third-party data, on the other hand, is often of lower quality because it has been passed through multiple hands before reaching you. It can lead to inaccuracies and inconsistencies that make it difficult to draw accurate conclusions from the data.
Increased Customer Loyalty
Owning your customer data also allows you to build deeper relationships with your customers. When customers feel they are being listened to and their needs met, they are more likely to remain loyal to your brand. This loyalty can lead to increased sales and long-term growth for your business.Overall, owning your customer data has many advantages that can help you to grow and improve your business. By collecting data yourself, you can ensure that it is of the highest quality and use it to create targeted marketing campaigns that will enhance your customer insights and increase loyalty. In today's competitive market, owning your customer data is essential to success.If you would like to explore ways of collecting first-party data you can explore our collection of digital experience templates, create a free account, or book a demo and let us guide you through our platform.
Meet with one of our experts to see how easy it is to centralize your product data, manage digital assets, and create digital product experiences. Trust us…you’re going to be wowed.
