We're all too familiar with the looming dread and uncertainty surrounding us as Google announced their phase-out of third-party cookies back in January 2020. It's not like three years on from then, the future looks any brighter for our industry — but here we are, still looking for solutions to fill that gaping hole left by third-party data tracking — because, let's face it, its eventual death is inevitable.
At this stage, most of us have accepted the gradual decline and understood that responsible advertising rocks, which means privacy first. We've been endlessly searching for privacy-focused methods to use while staying within the boundaries of ethical standards — enter first-party data!
As consumers become more aware of how companies handle their personal data, they are also becoming more vocal about their concerns. While 71% of people feel positive about personalized advertising, they also know the risks that come with unfettered tracking tools. So how can businesses and consumers find a middle ground? The answer lies in data collected responsibly through first-party sources.
This allows advertisers to target people in a way that is both ethical and effective. It allows online users to retain control over their personal information while also giving marketers access to customers who are looking for a personalized experience when they visit a website or shop online.
Not only are these sources reliable, but they also provide valuable insights that can help improve campaign efficiency and ROI. Where can businesses find these trustworthy sources?
You guessed it — publishers! We know that website owners regularly collect plenty of information on their visitors (browsing history, comments, shares, interactions, etc.), which can be compiled into comprehensive user profiles.
Savvy marketers should work with those websites to gain access to these first-party sources and use this data to personalize campaigns for the benefit of their audience and improve accuracy and engagement. And when coupled with more nuanced metrics like emotional triggers or loyalty insights, you have a powerful tool for success at your fingertips!
It's easy to understand why businesses are so keen on tapping into these private pools of enlightening data. However, partnering up with these publishers is no small feat — they want transparency and trust just as much as you do, after all.
The best way forward? Establish meaningful relationships between businesses seeking first-party data solutions while creating opportunities that serve both stakeholders at the same time — after all, this provides an entirely new level of value-added services around mutually shared criteria, which can help build long-term collaborations (and hefty ROIs).
When two companies come together in pursuit of something greater than themselves, there needs to be a clear understanding of quality control protocols before things get off the ground — but for many advertisers out there, trying to make sure their investments remain trustworthy has become quite a challenge lately: Where do you draw the line between being competitive online without compromising either relationships or industry standards? One thing is certain: Collaboration is key here.
If businesses take teamwork one step further — namely by working together hand in hand directly — then not only will they guarantee success today but also boost profits tomorrow through moral principles proven beneficial both from a financial and reputational standpoint.
This means advertisers are able to solely monitor actors that rapidly generate higher yields while regulating any malicious activities within the network or messages towards third party affiliates that could violate privacy policies or other company rules and regulations.
As businesses continue to develop key relationships and new marketing technologies, it's important to remain mindful that NPS or Net Promoter Score rating is also taken into consideration in these partnerships. After all, once you gain an understanding of how a publisher treats their audiences, then you can build on that trust factor even more — allowing for successful collaborations and, ultimately, happier customers.
This holistic approach, where data is collected responsibly through first-party sources, and the boundaries between product quality control, account performance, and reputation management will be successfully bridged together — creating tangible results: from improved ROIs to sharper targeting activities across multiple channels. Plus, more accurate insights simply make it impossible not to succeed when going hand in hand with publishers towards better transparency within your circle of business collaboration.
Nurturing fruitful partnerships requires dedication and commitment — but no investment of time nor money surpasses the power found within strong relationships.
It's really all about finding that sweet spot between service with excellence while still staying true to yourself plus your principles and standards, which brings us right back full circle to Google's original intention: safeguarding user data privacy no matter what shape or form of advertising strategy we use.
So go ahead! Take advantage of first-party platforms — meaning higher conversion rates and lower costs compared to other third-party targeting solutions by leaps & bounds.
Don't let Google's abrupt decision take away from you being able to maximize profits this quarter. Join the race now to witness unmatched ROI rocketing success both now, as well as in the long term!