FIRST-PARTY DATA STRATEGY
Future-proof Your Information Ecosystem
Building your roadmap for a cookieless world
The data privacy landscape is changing. As companies consider rapidly shifting standards for consumer data, the impact of losing third-party cookies and other common identifiers extends beyond marketing departments and across the business.
Brands that prepare for the change will stand out. As your competition makes do with one-size-fits-all experiences, your company can differentiate with relevant and insightful customer experiences. But the work starts now.
You Need a First-party Data Strategy
Google’s third-party cookie stay of execution buys you critical time to build and test an intentional — and flexible — first-party data strategy. Brands that shift to first-party data sources start reaping benefits right away — including up to 2.9x revenue uplift and a 1.5x increase in cost savings.
By investing the time now to assess your risk, define your internal data needs, and create a purpose-built first-party data solution, your company can emerge from the cookiepocalypse stronger than before.
[On-Demand] How cookie deprecation will impact 2022
6 Steps to Transform Your Post-cookie First-party Data Strategy
Google plans to phase out third-party cookies for good in 2023. Between now and then, your business needs to take six key actions (along with whatever curveballs appear along the way):
We’ll walk through each point, and help you take the first step toward building your roadmap to a future-proof first-party data strategy.
1. Reframe Your Current Marketing Economics
2. Reassess Your Customer Data Risk
3. Redesign Your Data Infrastructure
4. Rethink Your Tech Stack
5. Refine Your Security
Your new first-party data strategy won’t only impact your marketing team. The more data you bring in-house, the more you’ll need a comprehensive governance and security model to guarantee compliance and maintain consumer trust.
Good data governance and security practices align technology, operations, and oversight to ensure data quality, privacy, and retrievability. Depending on your starting point, a comprehensive solution may take time to implement. Be sure to build adequate space — and expertise — for data security and governance into your roadmap.
Who should play a role in data governance?
Roughly 70% of organizations have a designated data security role, but a shift to a first-party data tactics may require a larger team, greater cooperation with other business units, or more executive support to ensure success and avoid costly data breaches.
As you evaluate your own data processes for blind spots, don’t forget your vendors and partners. Make sure they’re equipped to pivot with you, because their data practices impact your exposure and risk, too.
Now is the time to work with your internal and external teams to explore safe collection, storage, and exchange of data so you can maximize your impact while minimizing risk.
6. Realign Your First-party Data Strategy
- Assess your risk
- Develop a first-party data strategy
- Gain organizational buy-in and budget
- Implement and execute the strategy during
- Measure and adjust before the end of 2023
Take the First Step
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Let us know how we can help you out, and one of our experts will be in touch right away.