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The rise of first-party data - Marketing Mag

The rise of first-party data - Marketing Mag | The Marteq Alert | Scoop.it
The advantage of third-party data is its large volume and wide scope, but it’s not exclusive and anyone can get hold of it. It’s also impossible to know whether the right audience has been captured, as consumers who once clicked on a skincare product as a one-time purchase may no longer be interested in such products anymore.

First-party data comes from consumers interacting directly with a brand. It helps enrich previously collected identity data, and is what a publisher can understand about its users based on their behaviour, such as details of what content has been read, and a name or email address if one has been provided. While it doesn’t have the size and scale to match third-party data, it’s generally considered to be more valuable because of its relevance and reliability.

So, while it’s clear that first-party data provides the best opportunity for marketers, the challenge ahead is two-fold. How do you grow your first-party data pool while at the same time enriching the data in order to better understand your audience? First-party data is important but it doesn’t tell the whole story. Even if a customer is willing to share their name, age, gender and location, the depth of this knowledge is limited.
CYDigital/marteq.ios insight:

Don't call it enhancing first party data, but replacing first party data with zero party data: data that is volunteered directly by the consumer to you in exchange for a digital reward. 

 

Then add to that all online behavior stemming from interaction with your brand AND OTHER BRANDS, and that's the power of extended zero party data. Let us show you.

 

See how extended zero-party data is your greatest marketing resource...tap into it right now!: http://un.marteq.io/WP1/ #martech #marketing

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How The Telegraph Is Building a Future Free From Third-Party Cookies - AdWeek

How The Telegraph Is Building a Future Free From Third-Party Cookies - AdWeek | The Marteq Alert | Scoop.it
The Telegraph has been building up its first-party data trove since introducing its subscriber-first strategy in 2017. In October, it had 525,000 print and digital subscribers, plus 6.8 million registered users (who can access several articles a week in exchange for an email address), nearing its goal of 1 million subscribers and 10 million registrants by 2023.

With Unity, ad buyers can use their own first-party data pools to locate and match audiences. Using secure data clean rooms called bunkers from tech platform InfoSum, marketers can only target The Telegraph audience that overlaps with the marketers’ own databases. These types of second-party data deals have been gaining steam now that there are more reliable ways to guarantee against the leakage of valuable data.

Third-party cookies have a limited shelf life, and publishers like The Washington Post, Insider and Vice are exploring a future without them. Ad buyers can still target audiences using cookie-based identifiers, but they are becoming less effective as web browser makers increase opacity to protect user privacy.
CYDigital/marteq.ios insight:

The publishers collects a boatload of first party data on its consumers, and correlates the data with the advertiser's first party data to derive targeting. Yet it's still short of direct delivery of data from consumers to advertisers. It's a step up, but still not nearly as powerful as extended zero party data.

 

See how extended zero-party data is your greatest marketing resource...tap into it right now!: http://un.marteq.io/WP1/ #martech #marketing

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What advertisers and publishers need to know to survive the shifting digital landscape - MarketingDive

What advertisers and publishers need to know to survive the shifting digital landscape - MarketingDive | The Marteq Alert | Scoop.it
One of the first things publishers should explore is building up their first-party data. Having a robust bank of first-party data offers several advantages to publishers. First, it allows them to own the direct relationship with their readers, an advantage they don't have when using a programmatic advertising platform such as a demand side platform (DSP). It also provides publishers with an "opted-in" audience, ripe for targeting. This is important in a world where privacy regulations are continually evolving and requiring more consent.

Publishers will also own the first-party data attributes, which can be a unique selling proposition in the marketplace. Finally, owning the data will enable publishers to either personalize content or make content recommendations based on that data.

Advertisers should look to build their first-party data as well. Especially if third-party cookies and mobile identifiers go away, direct matching with advertisers will become more important. If the advertiser is able to build their first-party audiences and customer data platform, they are in a better position to match data with publications that have also built a large registration database.
CYDigital/marteq.ios insight:

Sure, build the first party data asset. But you're shortchanging yourself by not adopting the better path via extended zero party data.

 

See how extended zero-party data is your greatest marketing resource...tap into it right now!: http://un.marteq.io/WP1/ #martech #marketing

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Martech Platform Epsilon is Being Transformed by Publicis Groupe - Martech Cube

Martech Platform Epsilon is Being Transformed by Publicis Groupe - Martech Cube | The Marteq Alert | Scoop.it
Helping clients build first-party data and take back control of their customer relationships Building on a fast integration within the Groupe to create the product suite Epsilon PeopleCloud, already embedded in over half of Publicis Groupe's top 30 accounts Uniquely positioned for a cookie-less world with CORE ID, the industry's most stable and accurate identity offering, leveraging more than 200 million profiles
CYDigital/marteq.ios insight:

But it's not zero party data, and that's the real solution in the age of data privacy.

 

See how extended zero-party data is your greatest marketing resource...and you can tap into it right now!: http://un.marteq.io/WP1/ #martech #marketing

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Gartner Identifies Four Personalization Tactics to Help Marketers Navigate the Current Recessionary Environment - WebWire

Gartner Identifies Four Personalization Tactics to Help Marketers Navigate the Current Recessionary Environment - WebWire | The Marteq Alert | Scoop.it
Gartner tracked and analyzed over 1,000 brands for personalization trends and identified four key findings that marketers should keep in mind as they refocus their efforts on first-party data:

Capture meaningful data at sign-up – Marketers should consider segmenting their customers through newsletter sign-ups by offering content preferences, a practice that brands in the pharmaceutical industry often excel at.
Gather and utilize explicit data after login – Account sign-up usually leaves brands with limited immediate data points for personalization, however, the post-login account customization stage can help brands collect richer information about their customers. 
Personalize at scale with implicit data – Prioritize the incorporation of data sourced from session behavior to personalize sites for account and non-account holders at scale. 
Leverage account data to target via email – Brand marketers must extend their site personalization approach to email, leaning on the implicit and explicit data gathered to send targeted communications. 
CYDigital/marteq.ios insight:

Go beyond the mundane first party data, and dig into the wealth of opportunities from zero party data.

 

See how extended zero-party data is your greatest marketing resource...and you can tap into it right now!: http://un.marteq.io/WP1/ #martech #marketing

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Piano and Digiday Announce Findings from the State of Direct Brand Engagement - MarTech Series

Piano and Digiday Announce Findings from the State of Direct Brand Engagement - MarTech Series | The Marteq Alert | Scoop.it

"The survey found that while some marketers are proactively making the switch to post-cookie data strategies, the majority are still relying on third-party data, and many need new resources and content to help them create the authentic relationships that produce first-party data.

  • 50 percent expect to be more reliant on first-party data in the coming year, and 49 percent will use more zero-party data
  • While 50 percent are using newsletter sign-ups to boost engagement, 29 percent are exploring a subscription offering
  • 52 percent saw difficulty in creating content that appeals to their audience as a roadblock to improving direct engagement.
  • 78 percent said they will adapt to using other types of data, but don’t need to make any changes yet, putting them at risk of missing Google’s 2022 deadline for cookie deprecation.

 

You can find the study here: https://info.piano.io/state-of-direct-brand-engagement"

CYDigital/marteq.ios insight:

The path to no cookies and adherence to data privacy legislation is paved with zero party data.

 

Get the new whitepaper "Discover New Revenue Opportunities Using Extended Zero-Party Data": http://un.marteq.io/WP1/ #martech #marketing

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First-Party Data Strategy: Gateway to an Enriched Marketing - Insider

First-Party Data Strategy: Gateway to an Enriched Marketing - Insider | The Marteq Alert | Scoop.it

"A First-Party Data Limbo for Data-driven Marketers

Marketers can face several challenges as they maximize the value of their data, especially first-party data: 

  1. No data strategy in place – How do you identify all your data sources and what data points across a customer journey are you collecting and mapping them from? 
  2. Connecting data across channels – How do you put all the data collected from the web, mobile apps, CRM, email, point-of-sale, beacons together, to create a complete picture of your customer?
  3. Unifying data and identity – How do you link fragmented data to build unified customer profiles and create a comprehensive view of each customer? 
  4. Taking action in real-time – How do you take advantage of your customer’s interests and behaviors? "
CYDigital/marteq.ios insight:

Excellent article on how to implement a First Party Data strategy, albeit inferior to a Zero Party Data strategy. Look: if you're going to go through the extreme effort to adopt a First Party Data strategy, look to Zero Party Data first (contact me: joe@marteq.io). One thing is clear: get off the Third Party Data train (to nowhere).

 

Get the new whitepaper "Discover New Revenue Opportunities Using Extended Zero-Party Data": http://un.marteq.io/WP1/ #martech #marketing

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Scaling ad revenue growth with first-party data expertise - ClickZ

Scaling ad revenue growth with first-party data expertise - ClickZ | The Marteq Alert | Scoop.it
  • With third-party cookies soon making their exit, many in the industry are working to get ahead of the potentially detrimental impact to ad revenue.
  • First-party data will be a publisher’s ticket to thriving in a post-cookie world, which is why deliberate steps must be taken to start taking ownership of said data.
  • Starting an email newsletter, diversifying subscription plans or launching a free membership model are easy ways to put a plan for first-party data expertise in motion, experimenting to see what delivers results.
CYDigital/marteq.ios insight:

As good as first party data is, zero party data is significantly better, and a failsafe way to accelerate digital marketing efforts.

 

Join the marteq.io white list to receive pre-launch benefits: https://un.marteq.io/wl1/ #martech #marketing

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4 Overlooked Areas to Guide Your Marketing Technology Decision - CMSwire

4 Overlooked Areas to Guide Your Marketing Technology Decision - CMSwire | The Marteq Alert | Scoop.it
Assessing the efficiency and value of marketing technology means understanding how it will fundamentally change the nature of a marketer’s job, and in turn, help them transform customer relationships. Here are four critical, yet often overlooked areas to consider:

1. The Proximity of Data to Customer-Facing Engagement: As the business group closest to customers as they engage with the brand, marketers need tools that provide them with direct and immediate access to unified and actionable first-party data. In other words, they need their own 'single customer view' deliberately designed for marketing purposes.

2. Ability to Eliminate Inefficiencies and Dependencies to Increase Time-to-Market: Access to real-time, comprehensive and always-accurate customer data, when granted, unquestionably improves marketing performance.

3. The Time and Effort to Get From Insight to Action: Give marketers the data they need in the form and time in which they need it, so they can spend more time on the art and marrying the two together.

4. Increased Business Agility and Resilience: The year 2020 emphatically reminded company leaders everywhere of the unpredictability of the world and the difference it makes to have teams and tools that allow for flexibility and speed in response to market changes. 
CYDigital/marteq.ios insight:

The proximity of data to customer-facing engagement! And first party data is not nearly as effective as enhanced zero party data, where the consumer provides a complete digital story from all online activities!

 

marteq.io is the peak of personalization, based on the consumer's full digital story. Learn more: https://www.marteq.io #martech #marketing

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