The days of third party data are numbered. Cookies and pixel tracking will look a lot different by 2023. And while this might sound like a long way off, it’s closer than you think. But it’s also plenty of time to prepare by ramping up your first party data efforts. One of the best ways to do this? Grow your email marketing database.
First, a quick explanation of terms: first party data is information you collect directly from your customers. This can take many forms, but it can included volunteered information such as email sign up or other contact information, or actions taken on your website. This is the highest quality data and is worth continued investment to collect.
Second party data is very similar to first party, except you are not the one collecting information. Instead, someone else has collected information on a group of people (perhaps similar or overlapping your customers) and you buy their first party data to overlay or augment your own. This can be directional and expand a picture of your customers but requires someone else’s help to execute.
Finally, third party data is an aggregate of information collected by an uninvolved entity. Google’s third party cookie deprecation plan illustrates the current danger of relying on someone else for a large part of your data strategy. Without access to these databases of third party data, marketers need to bolster their first party data strategy.
As third party data becomes harder to come by, first party data becomes more important. It’s time to build up your email database now to ensure a robust first party data strategy for the future. Through a combination of co-registration advertising and highly targeted winback campaigns, we can develop a data-compliant, opt-in list tailored to your needs. Ready to get started? A free evaluation is just a click away.