Marketers face several significant challenges in today's rapidly evolving digital advertising landscape. The industry is undergoing a seismic shift, driven by increased privacy regulations, the impending deprecation of third-party cookies, and heightened consumer awareness about how their data is used online. As a result, the data sources and mechanisms advertisers have long relied upon for audience insights are becoming obsolete.
Marketers must reimagine data-driven marketing and implement new strategies to unlock the insights that empower them to deeply understand consumer behavior and deliver the seamless experiences consumers expect.
In this blog post, we’ll cover the key concepts in our Data Collaboration for Insights Playbook. With real client examples, we demonstrate how leading companies use InfoSum’s Data Collaboration Platform to deliver actionable insights.
The critical need for marketers to collaborate in the first-party data world
To stay ahead in this new era, brands are turning to first-party data. However, while first-party data is a powerful asset, it only tells part of the story. The reality is that no single company has all the answers. Consumers interact with multiple organizations, each holding a different piece of the puzzle. This is where secure data collaboration becomes not just valuable but essential.
By establishing strategic data partnerships and collaborating in data clean rooms, companies can fill knowledge gaps and develop a comprehensive view of their customers without compromising on data privacy or security.
Five ways secure data collaboration unlocks new audience insights
Through secure data collaboration, brands can overcome the limitations of their data and unlock powerful new insights. Here are five ways data collaboration delivers actionable consumer insights:
- Improved profiling and segmentation: Companies can enrich and extend their first-party data by collaborating with high-quality data partners and complementary brands. This leads to richer audience profiles and more accurate customer insights, enabling brands to strengthen data-driven strategies and take an audience-first approach to marketing plans.
- Sustainable media planning: Data collaboration enables brands to deploy consistent and privacy-safe audience definitions across all channels. Using first-party data to create more robust seed segments, brands can deliver performance at scale without relying on cookies. This approach also enables 'augmented contextual' campaigns, where contextual buys are based on real people data.
- Informed marketing and creative strategies: By taking an insights-led approach leveraging authentic customer data from multiple touchpoints and different parties, brands can provide more relevant experiences across all customer interactions. This new customer intelligence allows advertisers to create higher-performing segments and enhance campaign performance through improved messaging and creatives.
- Future-proofed measurement: As cookie deprecation directly affects traditional measurement strategies, brands must pivot towards measurable metrics tied to direct business objectives (e.g., sales, leads, web or in-store visits). First-party data collaboration powers incrementality measurement and provides an opportunity to augment panel-based insights with true exposure and purchase segmentation, enabling more accurate cross-channel measurement.
- Strategic business insights: Data collaboration opens up new sources of insights that can inform business-level strategies. Organizations should explore industry data networks and collaborate with other players in their sector, such as gaming brands and console providers, or auto manufacturers and insurers, to gain valuable strategic insights.
Turning customer insights into marketing performance
To transform these data-driven insights into tangible performance improvements, brands should follow a three-step process:
- Data exploration and profiling: Move from claimed data to authentic, declared customer data by connecting multiple exclusive data sources. Bringing these together in a decentralized data clean room allows you to create richer profiles and find untapped segments while prioritizing consumer privacy.
- Re-evaluation of your marketing strategy: Use the enriched customer profiles to transparently identify the best-performing channels, reassess the relevancy of placements and contexts, and update your messaging and creative approach.
- Sustainable addressability: Activate second-party segments and use audience expansion tools to find new addressable segments. Implement effective suppression of out-of-target audiences to optimize reach and relevance.
Build an insights-led marketing strategy with InfoSum's Secure Data Clean Room
In an era where data privacy and security are paramount, InfoSum's Secure Data Clean Room provides a powerful solution for brands looking to harness the full potential of first-party data. By enabling secure, privacy-by-default collaboration, InfoSum empowers businesses to generate deep customer insights, optimize campaigns, and drive measurable results - all while maintaining the highest standards of data protection.
Don't let the evolving digital landscape hold you back. It’s time to embrace data privacy and the power of first-party data collaboration. Download the Data Collaboration Playbook for Insights today and start unlocking actionable insights that drive real business value.
