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Why First Party Data is important to you

GDPR new data privacy policy applied on May 18, they are different marketing channels available but walled garden implement data restrictions on the advertiser.Its limited the companies to access their own data, measurement & ad serving. Strict privacy regulations are creating a variety of potential risk for agencies & brands without access to data. Brands can enhance the quality of data, with correct third-party information to attract consumers across all third-party website.

Horizon Change

On the basis of data, marketer tries to understand the customer journey from first time buying a product to become a product advocate. Digital Data gives you the power of decision making, but Walled garden resisting access to cookie level data. The marketer wants to know how our investment driving the sales from their campaign. As a new technology innovate, Artificial Intelligence (AI) & cloud computing make data more robust, & valuable. The Al-enhanced data enablement solution, the information is more scalable & transparent.

Data Self Sufficiency

The recent survey shows that more than 80% of marketer are data self-sufficient, or at least working towards over the next year. Companies want to use own data created from campaign & 78% of companies are planning to use first-party data in a coming year. Marketer was moving their priorities & investment toward data. So there is a trend is coming out, bring your data in-house, not under the agency. Recently, Unilever acquired Dollar Shave Club worth of 1 Billion dollars, was gain access to unique consumer & data insights.

Personalized Data Management

The tight restrictions on data control & usability, it is important than ever to centralize, manage & maximize the effectiveness of your campaign & analysis capabilities.

Your digital campaign data is important for decision making. It is essential to centralize, manage & maximize the effectiveness of your campaign & analysis capabilities. When you are designing your campaign based on your data, your campaign objective must be clear. Either you work for an agency, a brand or in a technology company, you must understand the importance of data strategy.

If you are a digital marketer, they are different innovative tools available that help ensures you can use your data, additional audience information & forecasting inform you about your customer journey.

Article written by: Fahad Qureshi

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