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The changes in the digital ecosystem over the past few years have many brands scrambled. Privacy regulations, coupled with the approaching disappearance of third-party cookies, leave businesses with fewer alternatives for customer data collection.
“You’ve known this change is coming, yet delivering results was required to truly connect and collect all of your data on your customers with privacy controls and governance at the center,” said Dustin Raney, Director of Identity Innovation at Acxiom, in his presentation at our MarTech conference.
He added, “Brands are now forced to adapt to these new and ever-changing customer privacy regulations. They must take control of relationships by focusing on the optimization, resolution and enrichment of their first-party data.”
Image: Acxiom
Brands should pivot to first-party data solutions to address these changes, Raney argues. He recommends marketers use the following processes to ensure they’re digitally resilient for the new era.
Collect first-party data from all touchpoints
“Brands must ensure they have mechanisms in place to capture and make use of all signals and touchpoints being generated with interactions customers are having with you,” said Raney.
To remain competitive without third-party cookies, marketers need all the first-party data they can get. This includes customer information from offline transactions, customer service engagements, and more. If they’re unable to do so, the biggest players are going to get — and use — the information instead.
“Why do you think companies like Google, Facebook, Apple, and Amazon have become the dominating walled gardens they are today?” Raney
Read more here: https://martech.org/how-brands-can-build-digital-resilience/