It is all over the marketing world, 3rd party data is going away and marketers are preparing for a cookieless world.
What is 3rd party data? It is data that is collected on users that is then used by other companies to be able to market to those users.
If you have not already, you will begin to see that data is being misreported by analytics software. A common one we see often is that there has been a weird bump in web traffic from Coffeyville, Kansas. No, people are not just randomly moving to this small town in the Midwest, but Coffeyville is the digital center of the United States. This means that when an analytics software cannot determine a user's location, they attribute it to Coffeyville, Kansas because of the lack of 3rd party data and other data privacy restrictions. This is just one of the many misattributions we are beginning to see across multiple analytics accounts.
So what does this mean for companies that are relying on 3rd party data? It means that building out your first-party data is now more critical than ever!
You can begin preparing for this change by building out your current CRM and getting as much information on your current audience as possible. Review your tech stack and see what capabilities they have to ethically collect 1st party data.
Finally, you can consistently monitor your analytics and start figuring out where data is starting to be misattributed.
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