It’s taken longer than initially expected, but we can expect â€œcookiepocalypseâ€ by mid-2023. While other browsers like Safari and Firefox have already started blocking third-party cookies, Google Chrome is the search engine superstar, meaning it will have a massive impact on websites who rely on it for consumer data. Brands will now have to shift to first-party data for insight into their consumers.
Why Is This Significant?
Put simply, first-party data is data collected by a company through owned resources like websites, apps, in-store interactions, purchase history, or loyalty programs using data collection software. Whereas third-party data comes from an outside source that collected the data, like Google.
The advantages of third-party data are, firstly, it gives brands an overall image of their buyer personas’ online behaviourâ€”what sites they visit, purchases they make, and other interests they have. Secondly, brands can outsource these data-capturing capabilities without having to invest in their own software.
So, without a treasure-trove like Google’s third-party cookies, some brands and marketers are scrambling to adjust.
According to HubSpot, over 40 per cent of marketers in a recent survey believe that tracking the right data will be the biggest challenge going forward following Google’s change, and they will need to increased their spending by 5 to 25 per cent to adjust.
Advantages of First-Party Data
However, a silver lining in this cloud is that brands will now be encouraged to own their buyer persona. So far, consumer data has really been owned by Google, Facebook, Twitter, and other giants. Now, although it will require upfront investment, brands will have their own data collection methods like email, newsletters, and CRM tools.
For example, in the survey HubSpot referenced, nearly a quarter of marketing experts said they were planning on investing in email marketing software. There is also zero-party data, which is information customers deliberately share through surveys, quizzes, customers profiles, and subscription information.
Unlike third-party data, which is aggregated from various sets, first-party data is obtain directly from a brand’s consumers. As brands build their first-part data capabilities, they will be able to deliver better personalization and customer experience. The key will be building trust with customers by being transparent and committing to privacy regulations.
We Can Help
As a growth marketing agency, Pulsion offers data-driven and customer-centric solutions. Our expert team has partnerships and certifications with HubSpot, WordPress, Google, Zoom Info, and more. We achieve the highest possible ROI by ensuring your website, social media presences, paid advertising campaigns, and more are all pulling in the same direction.
If you would like to learn more about how to leverage your consumers’ data, contact us today by calling 1-866-507-8275 or by visiting https://www.gopulsion.io.