Key takeaway trends in first party data-sharing
There is something about sharing that always proves useful-it could be knowledge or skills. But for now data sharing is being valued between agencies. There are few key takeaways that are pushing the first party data sharing in the mobility circuit. As the traction moves more marketers toward this exercise, it is bringing transparency and tech adoption rapidly to get consumer connect.
Mobile apps share maximum data
When you are hailing an Uber cab, you are allowing the vendor to access a lot of information. While you share rides, Uber shares it with the agencies. Many third-party database is enriched when such mobile apps are used. At the latest count at least three different online platforms get the data to work on! Both IOS and Android phones offer major information. With this it is clear that many mobile advertisers share first-party data with ad providers. They base their campaigns with the information shared. It is also no surprise that the same information is also being used to detect fraud other than driving sales force into action. The key to make the sharing useful and effective had resulted in the emergence of some trends. The following trends have surfaced over a period of peaking apps on smartphones.
Improve decision making with programmatic solutions
When a visitor lands on the web page, the first thing is to collect the information of the visitor. Every website has traffic and this provides the first-hand opportunity for data collection. This means a click or a conversion that becomes a potential target. Once the consumer comes on the landing page, the DSPs stop their function. They will not even know if the app has been downloaded or the purchase made after the ad has been seen. Even if you know this much, with the marketing team you can build a strategy to get the consumer closer. You will understand the pattern that is being created. Work on this footprint to share information.
Advantage demand side partners
Data sharing is useful also for demand side partners. The first benefit is that there are no incidences of fraud which could waste the budget. When the actions of the consumers are shared there are less chances of fraud. The problem could surface from the DSP end or the consumer end if it is left to its own devices. Hence, sharing the first-party data makes absolute sense.
All round sharing is beneficial, not just web traffic
When the sharing is multiplied, it results in getting the power of two tools together. There is a possibility of negative or lookalike targeting. A DSP can use both of them to advantage. When the negative target is used it will filter the consumers who have already downloaded the app. When the lookalike is used it will focus on those consumers who have similar traits and demographics. Facebook is the greatest example of using the lookalike target to the maximum limit. This gives the impetus to you also to use the first-party data-sharing technique successfully.
Safe sharing is a must
Privacy issues have always dogged the open data platform. This is not a surprise as many users often get a shock of the personal information being leaked to fraudulent entities. Hence, when sharing the first-party data, it makes sense to be very selective with whom it is being shared. An agreement can be made or you need to have total trust with whom you are sharing. How will it help business will be the focal point of sharing. You must also be aware of the logistics involved in this eventuality. They should offer an assurance that the data will not be shared via S+CSV files or even via emails. Encryption is important as one machine communicates with the other.
Preethi Vagadia is currently a Senior Business architect with the Service operations practice at a well-known IT Industry in Bangalore. She has worked in several process improvement projects involving multi-national teams for global customers. She has over 8 years of experience in mortgage technology and has successfully executed several projects in logistics management, logistics integration, reverse logistics, programmatic software solution, campaign management solution and warranty management software.