Marketers want to use their first-party data more as they prepare for the inevitable end to third-party cookies, but they suffer “data paralysis” when confronted with all the options, according to new research by Kantar.
An online survey Kantar conducted in April and May among 672 advertising executives in 39 countries found 81% of respondents believe they should be using their first-party data alongside primary research data from outside.
Data priorities for marketers include taking more control over their own media planning, pursuing direct-to-consumer strategies, and strengthening their own consumer data platforms. In a blow to Byron Sharp, the Australian researcher who long has contended that brands can only grow by reaching out to new customers, 67% of respondents said understanding and retaining current customers is more important to them than acquiring new ones.
But the biggest takeaway is that the now-delayed end of cookie support on Google’s Chrome browser has brought added focus to the value of first-party data marketers get directly from customers. Advertisers rank their own data ahead of other sources on such things as trustworthiness and relevance to objectives. But in-house data ranks low on such things as ease of connection to other data sources. Google and Facebook ranked high there.