John Readman emphasizes the critical role of first-party data in enhancing business revenue through AI predictive marketing analytics. While 72% of decision-makers believe in its positive impact on ROI, actual adoption has been sluggish. The shift intensified after Google's announcement to discontinue third-party cookies, yet reliance on them persists, particularly among smaller brands. Despite initiatives by major firms like Nestlé and PepsiCo to gather first-party data, many marketers struggle to break free from third-party dependencies, revealing a significant gap in data utilization and understanding.
First-party data is any data collected directly by a business. It commonly includes things like contact information, demographics and buying habits, but it could be anything. It gives you reliable and direct information about people.
Despite the push for first-party data post-cookie, brands outside corporate giants have struggled to adopt it fully, as seen with 75% of marketers still relying on third-party cookies.
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