Brands cling to first-party data as third-party cookies phase out- Ukubeyinje
By Oghale Mafuru
To mitigate the challenges that accompanied the extinction of Third-Party cookies, the digital advertising ecosystem has been seeking an effective and result-oriented approach to access consumer data for marketing campaigns. Oti Ukubeyinje, President of the Association of Digital Marketing Professionals and VP Product Marketing and Growth at Terragon Group, revealed that brands are beginning to take the bull by the horns by leveraging first-party data to optimise marketing efforts for sustainable revenue growth.
Ukuehinje said further that the clamour for no thirty-party cookies was necessitated by the overwhelming call for consumer privacy. This has led to digital advertising shifting from a third-party toward a privacy-driven approach. According to him, investing in first-party data is, therefore, a strategy that brand owners are enthusiastically willing to explore.
“For brands to survive there will be a continuous push for First Party data. So, brands will increasingly invest in building direct relationships with consumers that they can interact with on an ongoing basis without relying on third parties, world gadgets or other platforms.”
While affirming that the first-party data avails brands the opportunity to understand their customers because it is based on actual interactions with your brand across the vast array of consumer touchpoints, it offers the types of insights that enable them to recognize, relate and respond to customers in more meaningful and valuable ways.
“If you check FMCG brands and banks, there is a race to get to your first one million owned first-party data that you collected with the consent of consumers so you can advertise to them through non-advertising channels. So, you go deeper into messaging and communication instead of advertising.
“Brands will increase investments in tokens to create a value exchange system between themselves and consumers. So how do I create interesting tokens and currencies so that the more you interact with my brand, the more I reward you beyond the core product so we can have a relationship?”
Ukubeyinje advised digital marketers to be more strategic and innovative in their value offerings to sustain relevance in the face of the push for privacy and as well as other challenges in the digital space.
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