Leveraging first-party data can help marketers create highly relevant ads.
This piece notes that rather than trying to collect every data point, brands should focus on using the data they already have to create highly personalised ads. Since people see more value in personalisation if it helps them, marketers should add value to their ads by solving consumer problems.
Using first-party data with relevant points like intent, location and brand-affinity, can help marketers create relevant ads that address consumer problems. Targeting consumers on their preferred channels further allows brands to reach out to them appropriately and effectively.
Brands can enhance consumer trust by being transparent and clear about their privacy policies. The author contends that identifying consumer needs and providing relevant offers, like a discount after cart abandonment, is the best data collection and usage practices.
[5 minute read]