Featured Story What are the 3 Myths of First Party Data? The importance of first-party data collection for businesses is increasing as data privacy concerns continue to rise. However, there are several myths surrounding first-party data that have prevented marketers from using it effectively. This article aims to dispel three of these myths, including the belief that cookie deprecation will disrupt website tags, that only third-party data is accurate, and that protecting privacy and driving business
results are mutually exclusive. By leveraging first-party data and adopting privacy-prone machine learning techniques, businesses can build trust with their customers, gain deeper insights into their behavior, and optimize their campaigns to drive more conversions and revenue. B2B marketers can effectively reach their target audience without relying solely on third-party data and can provide customers with customized experiences while respecting their privacy preferences.
In the digital age, data collection is essential for businesses. As data privacy concerns continue to rise, first-party data collection is becoming increasingly important for marketers. However, certain myths surrounding
first-party data have prevented marketers from using it effectively. The first myth is that cookie deprecation will disrupt website tags, which are used by many marketers to track and analyze customer behavior on their websites. While it is true that cookies have been a valuable tool for collecting user data and optimizing campaigns, there are other ways to gather this
information that are not dependent on cookies. In particular, B2B marketers should recognize that accurate measurements require a robust tagging infrastructure that can work with both first-party data and new attribution capabilities. This means that even if cookies become less reliable, there are still methods to ensure accurate tracking of customer activity on a website. One way to achieve this is by adopting an advanced tagging solution capable of integrating various data sources, including offline sources, to provide a more comprehensive view of customer behavior. By using first-party data, such as customer email addresses or login credentials, B2B marketers can maintain accurate tracking of customer activity without relying solely on cookies. The second myth in question is that only third-party data is accurate, which is a common misconception among marketers. Third-party cookies have traditionally been a reliable way for marketers to understand customer behavior and gather insights to optimize campaigns. However, as privacy concerns grow and cookie deprecation approaches, relying solely on third-party data can create a
significant risk for businesses. In fact, third-party cookies are being phased out by many browsers and will become obsolete in the near future. The truth is that first-party data is highly valuable for marketers, as it is directly collected from the interactions between the business and the customer. This data is more accurate than third-party data since it reflects actual user behavior and
engagement with the brand's owned channels. By leveraging first-party data, businesses can gain a deeper understanding of their customer base, including their preferences, interests, and behavior patterns. In addition to being more accurate, first-party data also provides unique insights that cannot be found in third-party data. This is because first-party data is tailored to the specific
business and its customer base, making it highly relevant and actionable. For example, a B2B marketer may collect first-party data on the type of content that resonates with their target audience, the time of day they engage with the brand, and the channels they prefer to use. With this information, the marketer can make data-driven decisions and optimize their campaigns to drive more conversions and revenue. The third myth is that protecting privacy and driving business results are mutually exclusive. Some advertisers believe that prioritizing privacy will hurt their business results because they fear that they may not be able to collect and analyze the data needed to optimize campaigns. They also worry that measurement gaps may disrupt reporting, making it difficult to assess the impact of their advertising efforts accurately. However, this is not necessarily the case. In fact, prioritizing privacy can help businesses build stronger, more meaningful relationships with their customers. By respecting customer privacy, companies can establish trust and build brand loyalty. Consumers are increasingly aware of how their data is being used, and they are more likely to engage with businesses that they trust to protect their personal
information. Additionally, privacy-prone machine learning techniques can be used to enhance campaign reporting and offer a more accurate view of the customer journey. By using privacy-compliant methods for data collection and analysis, companies can obtain insights that help them optimize their campaigns while still respecting customer privacy. For example, differential privacy techniques
can be used to protect individual user data while still allowing marketers to analyze trends and patterns in the data. Overall, protecting privacy and driving business results are not mutually exclusive. In fact, prioritizing privacy can help businesses build trust with their customers and achieve better results in the long run. By adopting privacy-prone machine learning techniques and other
privacy-compliant methods, companies can continue to optimize their campaigns while also respecting customer privacy. B2B marketers can effectively reach their target audience without third-party data. First-party data offers more opportunities in digital media and can provide customers with customized experiences. As data privacy concerns continue to grow, a first-party data strategy can
satisfy customers with privacy preferences while providing helpful insights for businesses. |
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In 2022, many companies including Facebook, jumped on the metaverse bandwagon, with plans to create virtual reality (VR) hardware and software. However, it seems that 2023 could see a reversal of these efforts, as it becomes clear that entering the metaverse is expensive, difficult,
and unlikely to be profitable any time soon. The latest company to step back from virtual reality is Tencent Holdings, the world's largest video game publisher, which had plans to produce hardware and software for VR. However, due to a bleak outlook for the technology's future, the company has cancelled the nascent division, reportedly telling its members to find new roles within or outside the company as the group was being dissolved. The author of a recent New York Times article has concluded that virtual reality (VR) still has some way to go before becoming a mainstream staple for work and play. While the PlayStation VR2 headset is one of the best pieces of VR hardware available, it still faces the same problems as previous VR headsets, such as an off-putting aesthetic and high price. The article notes that Sony's
focus on using VR goggles solely for gaming is a wise choice, as games are the most popular VR applications, and productivity apps have not gained traction. The author concludes that while the PlayStation VR2 is a good choice for VR enthusiasts, it is not recommended for those who play the occasional video game.. Despite the recent downturn in
Metaverse technologies and consumer interest, the adoption of Digital Twins, which are virtual environments replicating real-world places, objects, and humans, could propel this technology into the mainstream. Unlike virtual reality, Digital Twins do not require a headset and are accessible through websites, making them more commercially pragmatic. They are being used in various industries, such as personalised medicine, urban planning, and transport flow, to improve efficiencies and
operations. Digital Twins are also being used as a sales tool to attract sponsors, hospitality, advertisers, and media partners, and their adoption could help organizations move beyond fads and provide tangible benefits to their businesses and customers while also reducing their negative impact on the planet. Meta Platforms, formerly known as
Facebook, is launching a subscription service called Meta Verified. This service will allow subscribers to access direct customer support and verify their accounts using government IDs. It will cost between $11.99 and $14.99 per month and is set to launch first in Australia and New Zealand, with other countries to follow soon. The service is similar to Twitter Blue, which offers verification, a blue check mark, the ability to see fewer ads and post longer tweets for up to $11 per month.
In contrast, Meta Verified is focused on improving authenticity and security. This move by Meta highlights the efforts of social media platforms to diversify their sources of revenue as digital ad growth slows. The success of Meta Verified remains to be seen, as Twitter's similar service has reportedly seen low sign-up rates. Twitter has laid
off some of its ad sales employees in the latest round of job cuts at the social media company, according to three sources with knowledge of the situation. The scale of the job losses has not been determined. As of January 2023, Twitter had around 800 sales and marketing employees, out of a total of around 2,000 employees. The company has been undergoing a sales group restructure as it tries to increase revenue, which has dropped since Elon Musk acquired the firm in October 2022. Prior
to the acquisition, Twitter had approximately 7,500 employees. Brand Metrics, a global technology company that helps publishers prove the effectiveness of digital advertising campaigns, has appointed Agnes Asplund Schmidt as Customer Success Manager. The firm's technology enables publishers and agencies to gather independent data on
their digital ad campaigns, enabling them to measure uplift in awareness, consideration, preference, and action intent in a simple, cost-effective, and comparable way. Schmidt brings over six years of customer success management experience to the role, having previously worked for PR and communications firm Mynewsdesk, Techquity AB, and Waybler. She will lead customer relations to ensure clients receive the best possible experience and outcomes from Brand Metrics' technology. TikTok has announced the Creativity Program Beta, a new content monetization initiative in the US. The program, which is currently invite-only, allows creators to track video eligibility and estimated revenue through a new dashboard. The program is intended to provide creators with more average revenue per quality video view than its
predecessor, Creator Fund. To be eligible for the Creativity Program, creators must have over 100,000 followers, be over 18 and have an account in good standing. Videos must also be high-quality, original and longer than one minute. The move is aimed at keeping creators happy and competing with YouTube, which added revenue sharing to Shorts. Amazon CEO Andy Jassy has instructed corporate staff to work in the office for at least three days a week, as the company seeks to improve its culture and encourage greater collaboration. The change marks a departure from Amazon's previous policy, which left it up to managers to decide when workers should come into the office. Some workers have expressed a desire to continue working from home, citing improved work-life balance and productivity, while others have welcomed
the move back to the office. The debate over remote working continues to divide employers and employees. |
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De-influencing, the practice of criticizing influencer recommendations and encouraging consumers to think twice before
buying a product, is a growing trend among younger generations. With the rise of videos on TikTok criticizing influencers and urging users to carefully consider their purchases, the days of influencers telling us what to buy, wear, watch, and follow may be coming to an end. READ THIS STORY
Can we finally say the AOR Model is Dead? The Agency of Record (AOR) model, which has been a staple
in the advertising industry for over 50 years, is facing an existential crisis as brands look for more value and greater efficiency in their advertising spend. While the AOR model has been effective in the past, recent trends in advertising, including shifts toward e-commerce, data and performance marketing, have forced agencies to diversify their offerings beyond traditional media and creative services. As a result, there has been a decrease in the value of new business for creative and media
agencies. According to a recent report from consultancy R3, large advertisers are consolidating their marketing with holding groups that offer integrated services. READ FULL STORY
Fixed URL! Sorry about that Inside the Advertising Sectors Abusive Hiring Process. Stories of job interviews gone wrong are not uncommon. Candidates often find themselves subjected to rude and hostile behavior from potential employers, leaving them feeling trapped and obligated to stick it out until the end. But why do job seekers put up with such treatment during what should be a two-way assessment? READ MORE OF THIS STORY
The world of video games and advertising has changed dramatically in recent years, with
big brands and marketers taking note of the massive success of popular games like Fortnite and using them to target specific audiences with their advertising. This is a big shift from the past, where video games were seen as just a form of entertainment for children and teenagers, and marketers were hesitant to invest in this type of advertising. But now, with more than 80% of gaming adults saying they would be interested in seeing a brand advertise within a game, the trend has shifted towards
in-game advertising. So, what is driving this trend towards in-game advertising and why are brands so interested in using video games to reach their target audience? To answer these questions, it’s important to understand what makes video games so appealing to consumers and how they can be used to reach them. READ MORE OF THIS STORY |
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