How brands can build digital resilience
Neglecting changes in digital environments will make it harder for brands to adapt.
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.”
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 said. “They’ve been hugely successful at capturing and making use of first-party data, so let’s learn from their success. Let’s take back control of your data.”
Gaining control of your data is the first step in becoming a digitally resilient brand. Here’s how Raney suggests marketers begin the process of collecting first-party data.
- Show stakeholders the importance of an enterprise level customer view;
- Use a first-party data capture mechanism per CCPA; and
- Add your first-party tags to all your ad tech platforms.
Develop a first-party data graph
Shifting to first-party data collection isn’t going to be helpful if it’s not actionable. That’s why Raney suggests brands put the information together in a graph. This can help marketers match the data to customer identities.
“At the heart of first-party identity and data strategies should sit the private identity graph,” said Raney. “This is what maintains relationships across known individuals, geocodes, IP addresses, or device IDs. It’s where your first-party data is combined with other data.”
He added, “A first-party identity graph is constantly working in the background, synchronizing signals as they come in on batch or real-time feeds from CRM systems, APIs, and tech vendors.”
Connect data to the enterprise
“The graph should be your single point of truth across the enterprise,” said Raney, “providing each department and each tech vendor with a holistic view of every customer. It’s at these endpoints that you realize the true value of the graph where brands are now able to deliver profitable, relevant, and meaningful customer experiences.”
Marketers working with enterprises can use their identity graphs to provide relevant insights. This can help the entire organization stay ahead of game when even more digital changes arise.
Connecting this first-party data is also beneficial for consumers. Since they’ve consented to share this information, brands can build trust while offering highly engaging experiences in changing digital environments.
“Put the power back on your side and come out of these massive changes not only intact but in a better position to control what happens in the future,” said Taney. “We like to say, when you get identity right everyone wins.”