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.

As the leading independent technology platform for managing first-party data for marketing, iPROM Private DMP enables companies to collect, analyse and activate their data. Yet, is this enough? In this blog post, I’ll explain how today’s third-party data can be augmented with first-party data for even better targeting and the implementation of an advanced digital advertising strategy.

First-party data is at the heart of your marketing strategy

First-party data is the data you collect directly from your customers. This includes, for example, details about their behaviour on your website, previous purchases and media consumption patterns. It is this data that allows you to personalise your content and messages, thereby improve customer satisfaction.
iPROM Private DMP empowers you to effectively manage first-party data – not just collecting and storing it, but also analysing it and using it for marketing purposes. This increases the value of first-party data, turning it into an indispensable source of insights into your customers’ wants and needs. It is important to continually enrich it by investing in advertising and ensuring that it remains up-to-date and relevant.

The added value of first-party advertising strategies

The use of a first-party data platform is multifaceted and brings multiplier benefits to businesses. Among the most important are:

• Personalisation and customisation of advertising and marketing campaigns
  iPROM Private DMP allows you to tailor your marketing messages more precisely to individual customers. You can leverage the first-party data to create authentic and engaging experiences for your customers, increasing the likelihood that they will remain loyal to your brand.
• Respecting privacy and keeping your data safe from competitors
  It is important to highlight that iPROM Private DMP places a strong emphasis on privacy and security of first-party data. It gives you full control over the use of this valuable information, boosting customer confidence and ensuring compliance with data protection legislation.
• Better audience segmentation and target audience reach
  One of the key benefits of iPROM Private DMP is the ability to accurately segment your target audience. This allows you to divide your customers into smaller groups sharing similar characteristics to enable more targeted and effective advertising.

How third-party data complements first-party data

Third-party data complements your first-party data with broader information about consumers. This provides a better understanding of their interests, buying habits and lifestyles, helping you shape your marketing strategies more effectively. By using third-party data, you can extend your reach and connect with new customers who may not be part of your first-party database, opening up new opportunities for growth. Display advertising based on behavioural patterns is an example of how to use third-party data to design effective digital advertising strategies. These allow us to target the desired audience with ad content where we can predict the interests of digital media users based on their media habits. iPROM achieves this successfully by using a data management platform and delivering ads at the right time and place via a link to a programmatic backbone.

Crucially, the combination of first- and third-party data enables more precise targeting of advertising campaigns. By joining first- and third-party data, it is possible to create comprehensive data-driven campaigns that are more effective in reaching the right customers at the right time with the right content.

How does iPROM combine first- and third-party data for effective advertising?

We advise our clients who already use private data warehouses for their advertising campaigns, and help them design comprehensive advertising strategies by combining first-party data with third-party and non-party data.

In light of the tightening of e-privacy legislation and the announcement of the abolition of third-party cookies, we advise our clients to implement comprehensive, combined ad campaigns. This enriches their own data warehouses, provides valuable insights into customer behaviour and understanding, gives them the power to identify micro-segments and enables them to evaluate advertising activities more accurately.

Here are the four key tactics we use to do this:

1. Creating look-alike audience models: by combining data, you can create customer profiles that are similar to your best customers. This allows you to target new potential customers who are likely to be interested in your products or services.
2. Retargeting and conversion optimisation: By combining first- and third-party data, you can more effectively retarget customers who have already shown interest in your products or services. This increases the likelihood of conversions and the return on your advertising investment.
3. Building dynamic ad creative designs: By linking your users’ first-party data with non-party or null data such as time, weather and currencies, you can create dynamic, personalised ad creative designs tailored to your user. At iPROM, we use the iPROM Real-time Creative technology solution to build dynamic ad creative designs.
4. Measuring the effectiveness of ad campaigns: by combining data from different sources, it is possible to measure the effectiveness of ad campaigns more accurately. This allows you to monitor which campaigns are working best and adjust your advertising strategy accordingly.

Analysing, integrating and understanding data are key elements of a successful digital strategy in an era when data has become one of the most invaluable resources for businesses, enabling more accurate targeting and effective advertising. By using solutions like iPROM Private DMP, companies can increase their marketing reach and ROI while ensuring the privacy and security of their customers. By properly aggregating and using this data, they not only achieve better results from their advertising campaigns, but also build and strengthen trust in their brand. However, the key ingredient in the formula for the success of effective advertising strategies of the future is undoubtedly first-party data. Can you use it wisely?