The marketing news over the past few months has been dominated by discussions on the death of the third-party cookie and removal of browser and device-related tracking capabilities. As a result, marketing leaders are focused on maximizing the value of their first-party data assets. It’s a trend we expect will continue as privacy regulations and advertising practices evolve.
Unfortunately, the majority of marketers don’t have a full picture of the data assets they own, let alone the capabilities to activate them. When managed effectively, first-party customer and prospect behavioral data provides a treasure trove of value, giving marketing teams the ability to act on the actual behavior consumers are exhibiting on their own websites and properties.
However, even if a brand’s first-party data is being used effectively, they still have a big blind spot. That blind spot is behavior that consumers and prospects are exhibiting outside of the brand’s four walls—virtual or physical. This constitutes a much bigger share of consumer behavior and to capture that, a brand must have its first-party data enhanced with outside or third-party consumer behavioral data. Enhancing first-party data in this way works: Research shows it can lead to nearly 200% return on investment.
Every day we enhance our clients’ first-party data, providing critical behavioral inflection points in the consumer’s buying journey. This information helps our clients right-time outreach to a current customer or prospect and tailor the content of communications to match the consumers’ true interests and needs. And we do this without relying on third-party cookies or browser tracking and without storing any consumer personally identifiable information (PII).
Know More About Consumer Behavior
It’s clear that CMOs and marketing teams need to take a smarter approach to deliver truly customer-centric and behavior-driven content experiences. Know the facts about the consumer’s path from inception to the present moment by:
- Developing a clear understanding of consumer intent and engagement level from your first-party data.
- Enhancing your first-party data with consumer behavioral data that is occurring off-site.
- Continuously test and implement different data models to ultimately find the data mix that works best.
It’s important to build foundational capabilities to verify, link, and manage first-party and third-party data assets before they can be deployed effectively. Our Consumer Behavior Insider report offers a one-of-a-kind view of major purchase shopping activity identifying shifts and trends in consumer behavior.