Case for first-party data in a third-party world
In an ideal world, effective ad targeting would be easy: get
some accurate and complete profile data, put it into segments and use it across
channels and devices to reach the right person at the right time with relevant,
personalized ads.
Most marketers would agree that the concept is simple
enough. But knowing the theory behind data-powered ad targeting versus
effectively putting it into practice can mean two very different things.
As Big Data gets bigger and increasingly commoditized, more
confusion clouds the market about what constitutes accurate consumer data.
Where should it come from? What are acceptable ways to collect and use it? How
do we define accuracy?
The line between quality and quantity, first-party and
third-party, becomes murkier by the day, and the integrity of first-party data
is jeopardized in the process.
For the sake of targeted ad campaigns everywhere, it is time
to clear the air about first-party data and what it is, what it is not, why it
is so hard to come by, and – most importantly – why it is worth it.
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