For years, third-party cookies have been available for advertisers to use as tools. They have helped brands track users’ online behaviour, and establish targeted, personalised advertising.
However, 2024 is heavily anticipated to bring the end of third-party data, as Google will be getting rid of all its third-party cookies.
This is not groundbreaking; Firefox and Safari browsers have been blocking third-party cookies for years. The reason this is big news for marketers is that Google third-party cookies have been well established as a strong source of data collection for targeting.
As they are removing their support for third-party cookies, brands need to look at other sources of data to use for their targeting. In particular, first-party data.
Now, let’s dig into this!
What is third-party data?
Essentially, there are three different categories of data.
First-party data, or 1PD, is data collected by a business when a customer engages with them. Second-party data, or 2PD, is data that has been shared by a credible source that you have permission to use. Third-party data, or 3PD, is collated data that has been collected from a range of sources.
First-party data is very helpful for brands due to its accuracy, but it requires consumers to engage with your company. This can create challenges for brands wanting to collect data in large quantities.
However, with third-party cookies being removed this year, first-party data is undeniably the strongest replacement. So, it’s going to be a challenge that brands have to tackle head-on.
Build your email list
Your email list is a treasure trove of first-party data, if you know how to analyse, and harness it.
Before looking at expanding your existing list, take stock of the data you have already. Assess your subscriber list and understand their value; are they active or passive subscriptions, etc.
Once you have an understanding of your current situation, it’s time to invest in growing your email list for further data collection.
Incentivising users to join can be a hard task, with people more reluctant to give their details away and sign up for regular brand communications.
There are strategies that can be used to get around this potential barrier, though, all revolving around offering value.
For instance, creating an enticing newsletter or offering discounts to new subscribers can help increase sign-ups.
However you go about it, it’s important to offer value to users in exchange for their subscription. This is because these users will be long-term sources of data readily available for use for targeting in the absence of third-party cookies.
Run a contest
Gamification, such as contests, is another efficient way to collect first-party data with an incredibly high ROI. For the cost of one prize, you can collect data from large numbers of current or potential customers.
For instance, if you are seeking to understand demographics such as location or age groups, include this as a question within the entry for the contest.
Normally, users will show hesitation when giving their information to a brand. However, in the context of a contest, they’ll more willingly share these details.
There is a balance here, though, as people will only be willing to share their details if they feel there’s a strong enough proposition.
So, you have to ensure the prize of the competition is something that will appeal to the user groups you are seeking to learn more about.
In addition, the contest has to feel simple enough that they will not be put off entering due to the amount of effort required.
Using a contest to gain first-party data can be an incredibly cost-efficient and lucrative strategy. However, ensuring the details of the contest are enticing and easy enough for users to be interested is pivotal.
Choose the right data
Whatever first-party data collection initiative you use, you need to first consider the strategy behind the data you’re gathering.
For instance, if you want to expand your email list to gain more data, think about who you want to sign up. Then, develop the content you will be supplying in the newsletter. This needs to be enticing enough to draw them in.
Likewise, in order for a competition or giveaway to be an effective method of first-party collection, there has to be a strong strategy behind the questions used.
Consider the information you are wanting to learn about your consumers, and tailor questions around this.
With third-party cookies expected to come to an end this year, now more than ever, you need to consider your brands first-party data collection. You may decide to look at your email lists and how they can be best optimised. Or you may begin planning some contests to run for data collection. However you do it, start planning for the cookieless future now to stay ahead of the curve.
Want to find out more about how your brand can maximise its first-party data potential? Our team is ready to assist you every step of the way. So get in touch today by emailing us at hello@bulluk.com or contacting us here: bulluk.com/contact/
