Having first party data is only half the battle

In today's digital landscape, data is a valuable commodity for marketers. One type of data that has received a lot of attention in recent years is first party data, which is data that is collected directly from a brand's own customers or website visitors.

Many marketing professionals tend to think of first party data in terms of whether they have it or not, rather than considering how they can actually use it to improve their business KPIs. This is a mistake, because having first party data is only half the battle - the real challenge is making that data addressable and actionable.

One of the key ways to do this is through the use of identity resolution technology, which helps to match first party data with other sources of data to create a complete picture of an individual consumer. This can be especially useful for reaching consumers across different devices and channels, as well as for targeting ads more effectively and measuring their performance.

Unfortunately, many marketers struggle with the complex issue of making their first party data addressable. This is often due to a lack of understanding of the different technologies and solutions available, as well as a lack of coordination and collaboration within their organizations.

To overcome these challenges and unlock the full value of their first party data, marketers need to take a holistic approach that involves educating themselves about the latest identity resolution technologies, building strong partnerships with data providers and tech vendors, and developing clear strategies and goals for using first party data in their campaigns.

One of the biggest misconceptions about first party data is that it is somehow "better" or "more valuable" than other types of data, such as third party data or data from social media platforms. In reality, all types of data have their own strengths and weaknesses, and the best approach is to use a mix of different data sources to create a comprehensive view of your customers.

Furthermore, it's important to remember that the value of first party data goes beyond just targeting and measurement. This data can also be used for a wide range of other purposes, such as personalizing the customer experience, improving customer service, and identifying new business opportunities.

In conclusion, first party data is a valuable asset for marketers, but it's not enough just to have it - you also need to know how to use it effectively. By making your first party data addressable and actionable, you can unlock its full potential and drive better results for your business.