2023 Predictions: First-party data and contextual insights: A match made in heaven.
This month’s debunked blog explores our 2023 adtech predictions.
It’s that time of year where my TV seems to have gone Christmas movie mad. I personally love the great classics, such as The Grinch, Elf and Die Hard (yes, it is a Christmas film). And, I am not ashamed to admit I am a sucker for The Holiday. Everybody loves a RomCom (whether they admit it or not), especially during the festive season. And, as we step into the final countdown of 2022, I’d like to tell you the love story that I believe will blossom in 2023, and beyond; a tale where first-party data meets contextual insights, and live happily ever after. (awww cute).
Brands have always regarded first-party data as a hugely valuable asset. It’s the ‘holy grail’ so to speak, when it comes to delivering marketing messages on an individual level. However, utilising this data for digital activation can sometimes be tricky: Firstly, many brands struggle in the collection of first-party data (vertices such as CPG who seldom own a website or app will feel this struggle), and secondly, many brands simply don’t have the volumes of first-party data to scale campaigns efficiently.
Up until recent years, third-party cookies – and data – has been used to add scale where first-party data couldn’t. It’s been the bread and butter of the (m)adtech world, but started to lose its popularity in-light of consumer backlash, governmental regulations and the lockdown on cookies. Whether or not Google decides to delay its eventual demise once again, the shift throughout the advertising and marketing landscape has already begun, and 2023 will see this accelerate further.
“But how will I be able to add scale in the wake of third-party cookies?” I hear you cry.
The answer? Contextual insights.
A match made in heaven.
Imagine blending contextual insights with first-party data to create a winning mix of resonating content in environments consumers love. The end result? A strategy that combines consensus, transparency, trust and context to create an immersive customer experience. It’s the love story we’ve all been waiting for, where two opposing worlds come together to create something magical. After all, they do say opposites attract.
What is even more exciting, is this is available now! In partnership with the leading Customer Data Platform (CDP), Treasure Data, has created what’s aptly called a ‘Treasure Box’ offering, designed to help brands enrich their first-party data with contextual insights, to drive scale and value. And, 4D is the newest Treasure Box available.
In my opinion, this will offer brands a long-term and more accurate view on who their audiences are. By overlaying contextual insights to enrich first-party data, brands can learn about the types of content that their audience are interested in, whilst identifying key patterns, such as understanding if there are synergies across specific interests and categories, and exploring if this changes with seasonality / economic pressures / life-stage, and so on. It really is a match made in heaven, delivering a scalable solution to activate digital campaigns, and inform other media.
As we look ahead to 2023, I believe the coming together of these two worlds will start to trend and gain traction, as marketers and advertisers continue to head towards a privacy-first future; one that is powered by insights and centred around the consumer.
Want to find out more? Drop me a line with all your Treasure Box questions.
You can also access our Treasure Box one pager to the right of this article!