If you’re like a lot of marketers, your marketing strategy relies heavily on targeted ads. But have you thought about how your strategy will change when new privacy laws go into effect? If you’re in an organization that relies heavily on third-party data, it’s essential that you create systems in place to gather, analyze and store your own first-party data. Your future success depends on it.
We recently conducted a research study to find out how professionals view these changes and how they currently gather and use data. In today’s post, we’ll explore how respondents use targeted ads and what changes need to be made when third-party cookies are phased out of chrome.
A changing data landscape
Imagine you’re about to enter a new market, and you’re strategizing an ad campaign for the product launch. You can’t use third-party data telephone list biz to target ads. No google keyword planner. No social media. You can only use your own first-party data stack to execute the campaign (like crm, excel spreadsheets, json files, etc.). Do you think you’d be able to have a successful launch?
If you don’t think so, you aren’t alone. Our research found that 80% of business marketers say their organizations’ target media buys are based on data parameters that organizations like google and facebook set. That means many marketers like you have yet to make the switch to first-party data.
Whether you realize it yet or not the nuts and bolts of your marketing
From identifying and engaging prospects to closing a sale — will look different without third-party data. As a result, you’ll need to be more CU Lists intentional with your segmentation. Instead of being limited by what the platform offers, the data you have in your own system will limit how you can market to prospective customers. Although there may still be targeting options on these platforms, a lot more is going to depend on the data you’ve collected yourself.
Successful targeted ads are relevant ads, meaning the right ad goes to the right audience at the right time. Today you can thank the third-party cookie for that. Without third-party data, you might show customers an ad for a product they’ve already purchased. If you don’t have good data, your ads can go to people who don’t want your products or services.