Google Chrome announced this year that for 2023 Third-Party Cookies would be erased from their browser, following the trend of Mozilla Firefox or Safari. But, what would this mean for companies? Are we facing a new Marketing Era?
All your doubts will be solved in this article. Also we will see the possible alternatives or if there are not feasible alternatives for Third-Party Cookies and companies will have to completely change their consumer-based strategies.
Third-Party Cookies have been used as an incredibly efficient tool, allowing companies to track their customers to have a complete vision of them. This tool generates value to companies in terms of customer knowledge and segmentation possibilities. However, it was incredibly invasive for many users, who saw it as an attack on their privacy.
Not just that, the fact that, as we mentioned, this type of cookies are going to disappear from the main browsers (if they have not already done so), presents us a scenario in which the future of digital marketing seems to be directly focused on the use of the data that the customer provides you with directly: the First-Party Data.
Differences between using 3rd Party Cookies and 1st Party Data
Third-Party Cookies are used to recap information about users. They have an analytical purpose, as it registers from socio-demographical data to attitudinal data, allowing companies to obtain profiles and segment the market based on habits or interests from each particular user. This is why this has been an incredibly useful tool for companies until now, when their use has become very limited and will soon be obsolete.
It is at this points where we should look in to the future, into the use of First-Party Data. First-Party Data are data obtained by your company directly from your client. Data shared voluntarily by your client and that would help your company know properly your customer’s insights. By using this tool you would be generating a much more in depth relationship with customers, boosting the engagement.
Currently, due to advances in technology, companies have the possibility of collecting an enormous amount of First-party Data in a relatively simple way. The problem for companies start when this data is not used properly, due to problems in the storage and in the way it is sorted. We must bear in mind that is useless to recap all of this data if we are not be able to analyze it properly with the tools available in order to understand our customers and offer them great customer experiences.
New possibilities that a CDP could give to your company
Unlock your customer’s value. With a Customer Data Platform everything is possible. A CDP is a tool that would allow your company to store and structure every single piece of data that your company has available. Also, a CDP would join in the data that your company has stored in different platforms (social media, CRM, etc.), and the sociodemographic data available in the market that you wish (Average rent per district, Nº of babies born per district, etc.). Once stored and structured this data, a CDP would allow you to analyze it gaining insights from your customers.
There are many types of CDP providing clients with different functionalities, allowing your company to benefit in numerous ways of them. If your main goal is to substitute Third-Party cookies, the best option would be for sure the use of an Inteligent CDP, as it would allow you to analyze your data in depth, and with the support of Artificial Intelligence to benefit from those details that could escape human’s eye.
Do you want your company to move on to the next level? A CDP is the key tool that will allow you to maximize the potential of your data and grow your business. Working like the big multinationals in the market, which already have this type of software, and having control over all your data is now remarkably simple.
Moreover, if you do not have IT or Data Scientist teams, this tool will allow you to outsource this function. And if you have them but want to reduce their workload and give more autonomy to your marketing and business teams when it comes to working with data, implementing an easy-to-use CDP would be the best option for your company. It will allow any single member of your company to use it, as this software is prepared for them.
Start taking control of your data today.
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