You may already know about one of the biggest upcoming changes in the digital advertising world – Google Chrome is following the steps of Firefox and Safari and is making third-party cookies obsolete by 2023. The news were announced in 2019 and, since then, the ad sales world has been working on solutions to overcome this new challenge.
Don’t know where to start yet?
Don’t worry, in this post we will discuss some key points you can use in order to mitigate the impact and not to fall behind your peers!
You just need to keep in mind an element that is going to be crucial in the development of new strategies: First-Party Data. You can learn more about it here.
Developing these first-party strategies, however, can be challenging for publishers, especially since third-party cookies have been ruling the digital ad world for 20 years. According to a Google study in 2019, the top 500 global publishers could potentially face a revenue loss of 52% if they don’t implement a first-party strategy. But by doing it correctly, it can become a huge opportunity for publishers!
According to Nick Flood, Global Ad Product and Revenue Operations Director of Future plc, “some companies are already getting ahead of the curve and creating their own walled gardens by collecting and sharing first-party data in a privacy-compliant way”.
First-party data: Here are some key points to consider for your strategy
Publishers need to be transparent about how and why they collect the data from their direct audience since the users will be the ones sharing their data willingly in exchange for personalized content.
Audience engagement is vital
According to Viafoura, engaged users spend three times more on-site than non engaged users. Therefore, a more engaged community will provide more valuable first-party data. Some tools you can use to increase engagement are authenticated user profiles, community chats for live conversations or comment moderation for building a community.
Publishers now have the chance to capitalize on their quality first-party data. Once third-party cookies disappear, first-party data will become a valuable resource that publishers can take advantage of, which leads to the next point…
The era of partnerships
As Karan Singh, senior commercial director of Xandr, predicts, this year “sellers and buyers need to collaborate to match their audiences, in a way that respects consumers’ right to privacy”. On the other hand, it’s also a chance for smaller publishers to join hands and compete with larger and established publishers.
Beneficial for users
The current digital climate is challenging and can be pretty toxic at times. That’s why users seek civility and transparency in the spaces and the people they interact with. Publishers that can provide moderation and a good user experience will create a safer space for users that, in return, will give their first-party data.
What is the impact of the rise of first-party data for publishers?
First-party data is going to be the main reason behind the development of new strategies in 2022. That’s why publishers need to focus on leveraging their own data in order not to become stale.
What does first-party data provide to publishers?
There are many benefits of using first-party data. It provides better engagement since the information has been sent willingly by its users. It also gives publishers the upper hand in the marketing scene, since they’re now the ones that own the data.