Third party cookies are disappearing. Tracking is becoming less reliable. Platforms are limiting the data that you can access. All this, for better or for worse, means that your old strategies, particularly regarding re-targeting and data generation aren’t working like they once did; you might have already noticed your ads becoming less predictable and more expensive.
So, then… the solution? Put more effort into your first party data (the data you’re getting yourself, and not relying on external platforms that are hindering your growth). Not only is it completely unique to your business’ wants and needs, but there’s nothing to rule out further restrictions to tracking in the future, so external sources can’t really be relied on anymore.
What is 1st Party Data?
Essentially any information your business collects directly from users, including:
Email addresses
Phone numbers
Purchase history
Website behaviour (via your own analytics)
Form submissions
Survey responses
It’s more accurate, reliable, fully owned by your business & future-proof.
Why It’s Becoming Essential
Your potential audience has more control than you do regarding their data, and as soon as they decline your cookies there’s not much that you can do unfortunately (don’t get me wrong, I wouldn’t want to be tracked either lol). So if your marketing is reliant on pixel data alone this is going to lead to less accurate attribution, and you’ll be missing out on re-engagement campaigns with those that are actually interested. Cost-per-click is on the rise across the board as it is, the last thing you need is an inefficient campaign.
Speaking of PPC, it all still works (or I’d be out of a job pretty quickly), but the platforms are becoming more competitive and less predictable. If you’re relying solely on paid traffic and not using your own sources, you’re paying for every click, you also don’t own the audience, and performance can really fluctuate. If you capture first party data, however, you’re increasing your lifetime value, as you shift from renting attention to owning it.
Your email list is a gold mine, and that’s why email marketing is still a very high ROI channel. Knowing your audience, controlling the communication and not competing with an algorithm leads to an efficient and personalised advertising channel.
Common Mistakes
If you’re still reading then this is probably relevant to you, or someone on your team at least. There are a couple of common issues when it comes to underutilising your data, that you might not realise you’re doing:
A lack of proactivity – have you got a clear reason for users to sign up to what you’ve got going on? No incentive = no data.
Weak lead magnets – your channels need to be appealing, and stand out from how your rivals look. “Sign up to our newsletter” isn’t very compelling…
No follow-up – Collecting emails is only the first step. Without a nurture sequence, most leads go cold.
Over-reliance on one channel – I mentioned it earlier, so not to beat a dead horse but don’t put all your eggs into the paid acquisition basket.
Tips on Collecting & Utilising 1st Party Data
Give users a clear reason to share their details. This could be a downloadable brochure or guide, an audit, an exclusive offer or consultation.
Optimise your website for lead capture. Think clear CTAs, frictionless forms & strategic placement.
Build an email nurture sequence – once someone joins your list, what actually happens next? Not sure what one of these includes? As luck would have it I know a team of experts that can help!
Use 1st party data across your whole marketing portfolio. Create lookalike audiences, refine your targeting, personalise campaigns and make A/B tests from them, and create email sequences for different parts of the funnel. The more data you own, the smarter your marketing can become.
Build Relationships Rather Than Assets
Repeat custom is like gold dust, so if you can convince your audience to come back to you and not pay your competitors any mind then you’ve guaranteed a revenue stream. First party data is an essential part of building these relationships, and as your audience grows it’ll snowball into becoming more valuable with every lead.
Even a simple strategy done properly can make a noticeable difference, but sometimes the hardest part is knowing where to kick off from. If you know you could become more efficient, but don’t know where to begin, it might be worth booking in a consultation with one of our directors to get things off the ground.
