In the digital advertising world, companies must now collect and analyse data directly from their users. This shift is a result of the decline in the use of third-party cookies, long considered the cornerstone of personalised advertising. The focus is now on first-party data, which includes behavioural patterns of target audiences obtained directly from visitors to companies’ own digital platforms. Investing in the development of proprietary digital media has become essential as this strategy paves the way for more targeted and effective digital advertising. In this post, we will explore why.
First-party data for direct customer relations
In the rapidly evolving world of digital marketing, it is essential to acknowledge the importance of data. Direct relationships with target audiences are increasingly crucial for obtaining first-party data, which provides valuable insights into audience behaviour. This valuable information makes it much easier to develop ad targeting strategies. It enables more effective and targeted advertising across digital platforms and bought ad space. Such an approach not only improves advertising campaigns but also helps companies understand the needs and preferences of their target audience. This, in turn, opens up opportunities for improving products and services in accordance with their expectations and preferences.
Investing in your own digital media is crucial
Your digital media is your home, enriched with data. It is the central place of your digital presence where visitors can learn about your brand, products, or services in detail. In the fiercely competitive digital landscape, it is essential to invest in the development and optimization of email lists, corporate websites, and mobile apps. These platforms drive better engagement and interaction with audiences, yielding valuable first-party data. This data is integral for strengthening your database using a Data Management Platform (DMP), which helps you understand and segment your visitors.
Enriching your own data warehouse
Enriching your proprietary, independent, and secure data warehouse (iPROM Private DMP) relies on the collection of first-party data through your own digital channels. Investing in the development and maintenance of your own data warehouse is pivotal to better understand segment your target audience. This approach enables you to collect comprehensive, relevant, and accurate data, providing the foundation for tailoring your advertising messages and offers to the purchase intentions and needs of your customers. This strategy does not only result in more effective targeting but also delivers an improved user experience, contributing to greater customer loyalty. By using your own data warehouse, you can improve campaign analyses and continuously adjust your strategies and tactics based on the insights you gain. This ensures a constant evolution and improvement of your marketing efforts.
By collecting and using first-party data, companies and brands can deliver more personalised and effective advertising experiences. This improves audience engagement and optimises media buying, leading to a better return on advertising investment. The efficacy of this approach is evidenced by ad campaigns that have used first-party data for media buying.
As the prevalence of third-party cookies diminishes, it is increasingly important to invest in our own digital channels and collect first-party data. This not only provides a strong foundation for implementing digital advertising strategies but also for buying advertising space online in the future. If you would like to upgrade your online presence strategies, please contact me at andrej.ivanec@iprom.si, and we will be happy to assist you with upgrading your data-driven digital media ad space buying strategies