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Use first-party data to power your ad strategy
In a world without third-party cookies and individual identifiers, first-party
data and machine learning will support a successful digital marketing
strategy. First-party data is information customers have consented to provide
to your business, like an email address or phone number that your business
directly collects and owns.
Ad growth starts with a foundation in privacy
Whether you’re driving online sales or leads, responsibly generating first-party
data and enabling privacy-preserving measurements are key components of your ads
strategy.
Marketers who effectively use their first-party data can generate double the incremental revenue from a single ad placement, communication or outreach.
Source: “Responsible Marketing With First-Party Data”, BCG, May 2020.
The value of first-party data
Create a competitive advantage
The first-party data you collect with appropriate consent from
customers is unique to your business.
Enhance audience strategy
Your first-party data can help you understand your most valuable
customers and tailor messaging to improve campaign performance
Inform business decisions
First-party data tells you how people are engaging with your business,
which can guide product development and inform strategy.
Fuel machine learning
Combining first-party data with machine learning tools can help you
reach more customers and get a picture of your media impact – even
when less data is available.
Grow your first-party data with the right value exchange
It’s important to maintain customer trust by keeping their data safe, so be sure
to make your privacy policies clear and accessible while being compliant with
local laws, followed by being transparent about how you use your customers’
data.
Here are a few ways your business can generate first-party data by providing value to customers in exchange for their information:
1 - Early access to product launches
2 - Content or product recommendations
3 - Notifications when an item is back in stock
4 - Loyalty programs that offer rewards or exclusive benefits
Here are a few ways your business can generate first-party data by providing value to customers in exchange for their information:
1 - Early access to product launches
2 - Content or product recommendations
3 - Notifications when an item is back in stock
4 - Loyalty programs that offer rewards or exclusive benefits
Global studies indicate that Ninety percent of consumers are willing to share their personal information for the right incentive, such as improved convenience or a personalised experience.
Source: “Consumers Want Privacy. Marketers Can Deliver.”, BCG, Jan, 2022.
Invest in privacy-centric advertising solutions
Generate insightful and actionable first-party data from your website
visitors by enabling Google Ads privacy-preserving technologies. In this
next section, you’ll learn how these solutions work together to build a more
complete picture of your marketing performance, and how to use machine
learning to help you reach your audiences and unlock valuable insights.
HDFC Life acquires online insurance leads efficiently using custom GA360 audiences
HDFC Life is one of the leading Life insurance companies in India. HDFC
created custom audiences, audience cohorts and ran the GA360 audiences as
part of an A/B test. GA360 audiences delivered 25% incremental leads at a
70% higher click to lead ratio. Similar to GA360
audiences drove higher engagement at 2X higher CTR and a 35% lower cost
per lead.
Check out more resources on first-party data
For on-demand self-paced learning, visit the Skillshop Privacy
Resource Hub.
Find out how marketers should think about building a first-party data
strategy.
Gain insights on driving growth in a changing privacy environment.
Find out how some of marketing leaders in India are preparing for a
privacy safe future.
