In a previous blog post I discussed why first-party data is the most valuable data asset today, offering companies valuable insights into their own media users to identify ad messages. Having said that, it is still important to recognize the pitfalls of relying solely on first-party data. While it allows us to better target existing customers, it falls short when it comes to reaching new potential customers, as it only reaches customers who have previously interacted with our data sources. Third-party data complements first-party data to expand reach and create opportunities to acquire new customers.

Change is the only constant in digital advertising, but one core principle remains key: reaching the right user at the right time with a relevant message. First-party data has become a fundamental element in delivering more personalised and effective ad campaigns, especially when it comes to reaching and nurturing existing customers. But why is it crucial for companies to store it in private data warehouses such as iPROM Private DMP? And how can this data be used to make digital advertising more effective?

In today’s rapidly evolving business landscape, a thorough understanding of customers is becoming crucial. While traditional segmentation methods have been successful in the past, the advent of artificial intelligence (AI) has ushered in a new era where marketing success relies on micro-segments. Old segmentation methods are becoming obsolete in a world where demographics and interests are very diverse and dispersed, especially among younger generations. Companies can leverage AI to segment their customers with exceptional precision and efficiency, leading to better business outcomes.

In the evolving landscape of digital advertising, first-party data remains the cornerstone of successful campaigns, but the addition of zero-party data opens up new dimensions of personalisation and targeting. While first-party data provides insights into users’ interactions with a brand, zero-party data brings a deeper understanding of consumer preferences and needs, enabling even more precise and effective advertising strategies.

In today’s age of technological transformation, data protection and privacy are becoming essential for the success of brands in advertising. Marketers must prioritize privacy strategies in their marketing initiatives due to changes in legislation and increased consumer expectations. Businesses must be aware that data protection is not only a legal requirement but also crucial for gaining and maintaining the trust of consumers. Nowadays, people are more aware that their data is valuable and they are unwilling to share it with technology solution providers at any cost.

In the digital advertising ecosystem, effective targeting is crucial for the success of campaigns. The shift to first-party data and advanced AI technologies has revolutionised digital media buying. One of the highlighted approaches is lookalike modelling, or modelling based on shared characteristics using AI. This approach allows brands to target their advertising campaigns more precisely to the right audiences with a much higher likelihood of liking a brand. In this blog post, I will explain how digital media buying is done using first-party data and lookalike modelling using AI and show a practical example.

In the world of digital advertising, data has emerged as a key tool for customer acquisition and retention. Now, more than ever, businesses need reliable and accurate data to adapt and optimise their marketing strategies. Digitally aware companies are already crafting advanced advertising strategies that successfully activate their own first-party data to reach their target audience more effectively.

When we talk about the implementation of display advertising using first-party data for better targeting and personalised advertising on the open web, we inevitably have to address the question of whether it’s possible and practical to automate the entire advertising process for our clients.

Data management has become crucial for the effectiveness of advertising campaigns. At iPROM, we believe that having your own, first-party data collected through digital advertising is crucial. Every euro invested in advertising, where the advertiser is also building their own database, is actually a great investment into a secure future. Companies can use first-party data to run data-driven advertising campaigns and reach their target audiences more effectively, while strengthening and protecting their competitive advantage in the long term.

Private, independent data management platforms for first-party data of users of enterprise-owned media play an important role in protecting data and ensuring user privacy. Unlike walled gardens, which are typically controlled by a single company or organization, private data management platforms enable greater independence in advertising and control over owned data. Investing in private data management platforms has become critical for organizations looking to ensure security, privacy and ePrivacy compliance. This empowers them to manage data effectively, target and personalize marketing efforts, and increase return on advertising investments. iPROM enables its customers to do this with its iPROM Private DMP.