The end of third party data means that your only future-proof way to collect data from your customers will be through a first party data strategy.
A first party data strategy has many major advantages:
However, a data landscape depending on explicit consent also creates a major challenge.
In fact, 79% are only willing to share their data if there is a clear benefit to them. They need a great incentive, one that feels worthy of the valuable information they are providing.
Want to do personalization right? Here’s how
Really, the challenge ahead is pretty familiar: Drawing in customers based on the value you provide. However, for the first time, data handling is now a part of that value exchange.