Marketers have never been faced with more change and uncertainty. Privacy compliance in a changing regulatory environment has taken center stage, leading to the implementation of Apple’s App Tracking Transparency (ATT), an imminent loss of third-party cookies, and the likely removal of IP addresses and other device-based identifiers. Data deprecation is real, which is why first-party data and first-party relationships have become more important than ever. We hear a lot about the need to build a data-agnostic identity strategy to handle these changes. Brands want to do more of this in-house and with more control.
While first-party data empowers businesses to foster direct relationships with consumers and protect that relationship, it’s not always easy. Here are three challenges marketers face when building a comprehensive identity strategy:
Identity inaccuracy and fragmentation: Identity and identifiers appear in many different channels and formats, causing a fragmented view of the consumer and leading to the creation of inaccurate segments and imprecise measurement. Breaking down silos is critical to reducing conflicts and creating a more complete, true view of consumers across an organization.
Ecosystem latency: Data has to flow through specific steps and parties before it can reach its destination, leading to risk, latency, and drop off. This can be solved with the proper infrastructure to quickly leverage partner tools for persistence and speed.
Security and privacy: Ensure data is used safely and that data owners maintain control while meeting privacy gold standards. It requires consent-based and authentication mechanisms, improved consumer transparency, use case-based knowledge, and appropriate controls over data movement and encryption.
In a recent webinar hosted by Adweek, Owning Your Customer Identity Strategy Now and in the Future, Dennis Ellis, VP of Product and GM of Identity Infrastructure at LiveRamp, explained what marketers can do now to own their customer identity strategy.
In this clip, Dennis answers the question, “What would you recommend for someone starting down this journey to both learn and implement a meaningful first-party data strategy?”
Dennis also walked through a checklist of what is needed to build a successful identity infrastructure:
Watch the full presentation and learn how an identity infrastructure powers the full spectrum of solutions, from first-party data resolution to decentralized peer-to-peer connections, and the key strategies needed for your competitive edge and business sustainability.