Keep in mind, most of their products are sold by retailers and third parties. Malts: Some of the world’s biggest CPG brands have very little access to first-party data. Talbot: Any other insights you’d like to share? That technology will only get better and more sophisticated as ACR and OTT data becomes more readily available. CTV Automatic Content Recognition (ACR) and over-the-top (OTT) audience data can now be mixed, matched, and combined with first, second, and third-party data to create segments to target viewers cross-channel. Malts: One breakthrough that’s actually happening right now is in the area of connected TV. Talbot: What breakthroughs in the analysis of third party-data have yet to take place? This will allow you to answer the questions first-party cannot and make sure that your customer profiles stay current through global (or life) changes. One very effective way to avoid this guesswork is data enrichment with third-party data. The problem is that few or none of these changes will be reflected in the first-party data you’ve collected and as a marketer you’ll be left guessing what’s different. This is even more true with the COVID-19 pandemic.Įven if you were able to collect an incredibly detailed customer profile back in February or early March, you can be almost certain that much of it has changed dramatically in the last six months. Malts: The real value of using third-party data is that you can get a richer understanding of your customers and reduce blind spots and guesswork. Talbot: As marketers keep trying to enhance relevancy and personalization, how would you gauge the value of third-party data? Is there room for improvement? Most definitely. Malts: Digital advertising is full of innovators and changemakers. Talbot: Are we any better at analysis than we were a few years ago? When you identify your core audience through collecting first-party data and build on that audience through the use of third-party data, you can reach new potential customers and learn more about the people that are interested in your products or services. But these are third-party data’s specialties.

While the data you collect yourself is valuable because of its precision and relevance, it often lacks scale and depth. You collect it directly from the source, you know it’s relatively accurate and because it comes straight from your audience you know it’s relevant to your business.Īs the use of first-party data has evolved, more marketers are realizing it can be enhanced through third-party data. Malts: Over the last few years, marketers have really come to understand the value of first-party data. Talbot: How is the use of third-party data evolving?

His Third, Her Second by Paul Estaver