First party data (the most important party in town)
About every five minutes, a new article comes out talking about the demise of cookies – the kind that contain data, not chocolate chips. With the demise of cookies comes the end of ad tracking, retargeting, and behavioral/locational targeting as we know it. For many of us, this is like a giant meteor hurtling toward the ad world. It won't cause total extinction, but things will shift in a way that barely resembles the digital world before it. Even Bruce Willis or Ben Affleck can’t stop it.
While it's true that with the extinction of cookies the power of privacy is going to expand, there is also another emerging force poised to not only take over the world (like those little mammals that rose to domination after the extinction of dinosaurs) but also to bring the ad world into the age of enlightenment: first party data.
First party data is where a user gives you information and in essence raises their hand and says “I’m interested” by giving you information about themselves. It's a way of saying to the brands you like, “Let’s stay in touch.” It's the brands that find creative and unique ways to gather first party data that will rule the world.
Sure, the scale will be smaller. Not everyone will want to participate. But by using the right strategic tactics, you will still be able to gain incredibly valuable information. From those concerted efforts, this new power will lead to a strong, more engaged audience. An audience that voluntarily says “I care. I want to stay in touch. Give me more. Show me. Enlighten me."
This is a great time to start thinking about and preparing for this, BEFORE the meteor hits. And we can show you some ways to be strategic, so when it does hit…you are safely sitting in your bomb shelter, watching Armageddon and saying how cheesy of a movie it was.