First Party Data Won't Solve Your Marketing Attribution Woes
Right now, there is a major move in the marketing industry towards 1st party relationships with consumers— in fact, 85% of brand marketers consider increasing the use of 1st party data a high or critical priority.1 This trend is a positive move because it (1) builds trust with consumers, (2) it is great for personalization, and (3) can improve marketing effectiveness along with loyalty/retention. The moral of the story here is that building out broader 1st party ecosystems through investments in the data, marketing technology, etc. is the right thing to do if it is properly executed.
However, 1st party data doesn’t fix the major marketing attribution issues that brands face today. Tech players are shutting down tracking mechanisms (Apple ITP, Google Chrome and Firefox wiping out third party cookies, etc.) used in multi-touch attribution (MTA), hindering marketing measurement practices that require consumer identities. Additionally, new consumer data privacy regulations (GDPR, CCPA, and 12 other U.S. states with similar regulations in their pipelines) are now creating real financial risks for brands using consumer identities for marketing and marketing measurement.
Fortunately, there is a real, accurate and agile marketing measurement & optimization solution that does not use any PII. OptiMine is the only solution that provides digital & traditional marketing measurement at campaign levels that poses zero risk for brands today. While marketers are investing in their 1st party efforts, there is a compelling choice for them to address the marketing measurement gap: OptiMine.