If you’ve been online in the last couple months, you may have noticed that websites are asking you for consent to accept cookies, applications are updating their privacy statements, and large tech companies are restricting the way your data can be shared.

It’s a privacy-first world we live in – and for businesses and marketers, that means inevitability:

 we need to rethink how we collect and use data.

1. This is what we should be capitalizing on with a first-party data strategy. And spoiler alert, not only is first-party data a safer option, it’s also smarter option.

How do you define first-party data?

Let’s make it simple:

2.First-party data is the data the business collects directly from its audience – no gaps filled in by a middleman, no assumptions are factored either.

Consider:
The email addresses you collected from newsletter subscriptions
Purchase history from your website
User activity from app usage
Responses from surveys or customer feedback
Loyalty program data

In essence, it is the data that users knowingly and willingly provide you when they interact with your business.

Why is first-party data is even more valuable now?

1. Here’s the harsh reality

third-party data (data collected by a third-party) that is shared with your business

2. Improved Relationships with Customers
There’s nothing more important than trust. When customers are able to see you’re using their data in a responsible way, and only to improve the customer experience, they’re more likely to continue doing business with you.

3. More Efficient Marketing
You are no longer relying on guesswork or biases, or even worse, third-party data. You are using clean and reliable data from the source which allows you to create better targeting and efficiencies to get better ROIs.

4. Future-Proof Circle Strategy
As new regulations like GDPR and CCPA become an expectation, as opposed to an exception, collecting the data directly and transparently helps keep you compliant, and ahead of competitors.

Final Thoughts: Towards a More Transparent Digital World

The changes taking place in digital privacy may feel disruptive. And while they are disruptive, they are also a positive indication that accountability is finally making its way into the tech world. Transparency is shaping up to be the rule, rather than the exception. As users, we need to continue to be informed about how our data is handled, and use the options available to use. For businesses, taking on these changes to put users first will provide the opportunity to build trust and loyalty from their users.In a world where data is currency, protecting that currency responsibly is as much good compliance as it is good business.The negotiation continues to be between convenience and privacy.

The challenge remains to create digital experiences that respect both.

fidha faizal

digital marketing freelancer in dubai