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Driving value from first-party data in a privacy-centric world - Vimal Badiani,TRKKN

The advertising landscape is changing with challenges in measurement and added pressure from local data legislations. With the forthcoming deprecation of most third-party cookies, businesses will have to re-engineer their marketing and data ecosystem around first-party data. For measurement purposes first, as this will have to be consented and modelled, but also to drive value for their customers through personalized and rewarding customer experiences. This session will discuss how to promote value in exchange for data, demonstrate trust with your customers and solidify your first-party data framework.

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Driving Value from
First-Party Data in a
Privacy-Centric World
MASTER
CLASS
Vimal Badiani
MANAGING DIRECTOR
TRKKN MENA
DUBAI, UAE ~ OCTOBER 10 - 11, 2023
DIGIMARCONMIDDLEEAST.COM | #DigiMarConMiddleEast
DIGIMARCONDUBAI.AE | #DigiMarConDubai
TRKKN Proprietary & Confidential
Future Proofing Your Business To Drive
Value In A Privacy Centric Way
DigiMarcon 2023
3
TRKKN Proprietary & Confidential
What to expect
01 Privacy & Measurement Trends
02 1st Party Data
03 Privacy & Trust
04 1st Party Maturity Framework
4
TRKKN Proprietary & Confidential
Keeping track in a privacy and future oriented world
Privacy & Measurement Trends
5
TRKKN Proprietary & Confidential
Market Trends: The Advertising and Tracking Ecosystem Is
Changing
Loss of 3rd party cookies
& device IDs
Safari, Firefox and Chrome are
fading out 3rd party cookies,
while also the persistence of
mobile device identifiers is
shrinking.
Conversion measurement and
cross-device tracking are
actively being limited.
Increased privacy
regulations
Privacy laws like PDPL & GDPR
will make it harder to generate
and use granular individual
user data.
Ad Blockers & shorter
conversion windows
Ad blockers not only prevent
the serving of ads but can also
limit conversion tracking.
Browsers such as Safari started
limiting expiration windows on
cookies for conversion
measurement to as little as 24
hours.
Shifting User
Expectations
Users are getting more sensitive
to sharing personal data, but
also resent having to scroll
through walls of legal text
before using a site or app.
Meeting privacy standards
while maintaining user
experience is becoming a
competitive advantage.
01 Privacy & Measurement
Trends
6
Trakken Proprietary & Confidential
What Marketers need to be aware of
● Data availability needs to be balanced out with user trust and privacy considerations.
● In the age of tracking and precision, companies thought of user data as a company asset - to be
used at their own discretion.
● User opinions have changed massively: Now, they expect companies to only collect the data that
is necessary to help them interact with their websites and apps - not for undisclosed future use.
● 100% tracking of every interaction is unnecessary for making marketing decisions. Data accuracy just
needs to be high enough for each individual decision that is based on the data. Sampling and
modeling are usually good enough.
● Reliance on 3rd parties like agencies or tech companies for user data is becoming a disadvantage.
Direct customer relationships and the associated immediacy and customer centricity are
becoming crucial.
01 Privacy & Measurement
Trends

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Driving value from first-party data in a privacy-centric world - Vimal Badiani,TRKKN

  • 1. Driving Value from First-Party Data in a Privacy-Centric World MASTER CLASS Vimal Badiani MANAGING DIRECTOR TRKKN MENA DUBAI, UAE ~ OCTOBER 10 - 11, 2023 DIGIMARCONMIDDLEEAST.COM | #DigiMarConMiddleEast DIGIMARCONDUBAI.AE | #DigiMarConDubai
  • 2. TRKKN Proprietary & Confidential Future Proofing Your Business To Drive Value In A Privacy Centric Way DigiMarcon 2023
  • 3. 3 TRKKN Proprietary & Confidential What to expect 01 Privacy & Measurement Trends 02 1st Party Data 03 Privacy & Trust 04 1st Party Maturity Framework
  • 4. 4 TRKKN Proprietary & Confidential Keeping track in a privacy and future oriented world Privacy & Measurement Trends
  • 5. 5 TRKKN Proprietary & Confidential Market Trends: The Advertising and Tracking Ecosystem Is Changing Loss of 3rd party cookies & device IDs Safari, Firefox and Chrome are fading out 3rd party cookies, while also the persistence of mobile device identifiers is shrinking. Conversion measurement and cross-device tracking are actively being limited. Increased privacy regulations Privacy laws like PDPL & GDPR will make it harder to generate and use granular individual user data. Ad Blockers & shorter conversion windows Ad blockers not only prevent the serving of ads but can also limit conversion tracking. Browsers such as Safari started limiting expiration windows on cookies for conversion measurement to as little as 24 hours. Shifting User Expectations Users are getting more sensitive to sharing personal data, but also resent having to scroll through walls of legal text before using a site or app. Meeting privacy standards while maintaining user experience is becoming a competitive advantage. 01 Privacy & Measurement Trends
  • 6. 6 Trakken Proprietary & Confidential What Marketers need to be aware of ● Data availability needs to be balanced out with user trust and privacy considerations. ● In the age of tracking and precision, companies thought of user data as a company asset - to be used at their own discretion. ● User opinions have changed massively: Now, they expect companies to only collect the data that is necessary to help them interact with their websites and apps - not for undisclosed future use. ● 100% tracking of every interaction is unnecessary for making marketing decisions. Data accuracy just needs to be high enough for each individual decision that is based on the data. Sampling and modeling are usually good enough. ● Reliance on 3rd parties like agencies or tech companies for user data is becoming a disadvantage. Direct customer relationships and the associated immediacy and customer centricity are becoming crucial. 01 Privacy & Measurement Trends
  • 7. 7 TRKKN Proprietary & Confidential The Future of Measurement is Consented, 1st Party and Modelled. Google
  • 8. 8 Trakken Proprietary & Confidential Reach and engage your customers more effectively by bringing digital measurement to your Broadcast advertising. Broadcast Era Target the right customers at the right time with Programmatic advertising. Precision Era Sophisticated algorithms, artificial intelligence and machine learning to anticipate consumers’ needs and interests. Predictive Era Towards the next paradigm shift 01 Privacy & Measurement Trends
  • 9. 9 Trakken Proprietary & Confidential Why first party data is important First-party Data Most durable Data owned and collected by your company. This can include data collected from a website or data collected offline. It is most durable through ecosystem changes. First-party Cookies More durable A type of cookie that only your company’s website can read. This type of cookie will has very little restrictions. Only some lifetime restrictions in Safari and Firefox may apply. Third-party Data Data owned and collected by someone other than your company. Though sometimes referred to as “Second Party Data”, Google proprietary data technically falls into this bucket from your company’s perspective. Third-party Cookies A type of cookie that only a third company’s website can read. This type of cookie is disallowed by default today in Safari and Firefox and will be disallowed by Chrome in 2024. Some first-party data REQUIRES third-party cookies to activate against. Device IDs Identifier for each individual smartphone or tablet, stored on the mobile device iOS: Identity For Advertisers (IDFA) Android: Advertising ID (AAID). Apple’s App Tracking Transparency (ATT) will lead to more blocked iOS device IDs. 01 Privacy & Measurement Trends
  • 10. 10 TRKKN Proprietary & Confidential TRKKN Proprietary & Confidential Cookies were the reason why granular audience targeting was possible ● Cookies are enabling the websites to remember user information and preferences. ● Cookies were the reason why advertiser were able to track customer journeys and conversions on publisher side. ● With cookies, individual users targeting for advertisement purposes were enabled. 01 Privacy & Measurement Trends
  • 11. 11 TRKKN Proprietary & Confidential Limitations and Their Implications ● ROAS (Return On Ad Spend) decline due to limitations on efficient campaign targeting options. ● Additional perceived ROAS decline, as tracking occurs with fewer observed conversions of paid media. ● Reliance on 3rd party cookie based techniques and tools for user data collection and activation is becoming a competitive disadvantage. Limitations for advertisers Campaign Setup & Optimization: Techniques like Frequency Capping will be limited. Campaign Targeting: 3rd party cookie based audience targetings are affected and will decrease in relevance. Measurement: Observable data for conversion tracking and attribution are limited. Less click based conversions are tracked and view-through conversions will diminish. Implications for Advertisers 01 Privacy & Measurement Trends
  • 12. 12 TRKKN Proprietary & Confidential For a future-proofed marketing setup 1st Party Data
  • 13. 13 TRKKN Proprietary & Confidential The purpose of collection 1st party data should be to enhance the user experience. Don’t collect data with no clear purpose.
  • 14. 14 TRKKN Proprietary & Confidential TRKKN Proprietary & Confidential While the opportunity is clear, few companies have taken action Source: BCG, “The Value of First Party Data”, 2022 90% say first-party data is very important in their digital marketing 1% are using data to deliver a fully cross-channel experiences 30% are collecting and integrating data across channels 01 Privacy & Measurement Trends
  • 15. 15 TRKKN Proprietary & Confidential TRKKN Proprietary & Confidential 1st Party Data is a major driver for a future proofed marketing setup What are 1st Party Data? 1st Party Data are proprietary information that an organization is collecting directly from their customers with consent. Why does it matter? As 3rd party data are about to depreciate, organizations needs to build up their own data sources in order to keep their marketing capabilities stable in the future. How does it look like? 1st Party data can be email-addresses, purchase histories, website data, CRM data or other collected data directly from the customer Marketing Data Hub & 1st Party Data Storage Collecting consented user data Enriching marketing activities with 1st party data Limitation: Organisations are limited with their 1st party data to their active audience reach. 02 1st Party Data
  • 16. 16 TRKKN Proprietary & Confidential TRKKN Proprietary & Confidential 1st Party Data, 2nd Party Data & 3rd Party Data 1st Party Data Most durable Data owned and collected by your company. This can include data collected from a website or data collected offline. It is most durable through ecosystem changes. 3rd Party Data Not durable 3rd party data is collected by other companies than the proprietary owner of the data. This is for example when a Facebook pixel collects data on a website and send it to their own data centre. 2nd Party Data Not durable 2nd party data are 1st party data from someone else. This second party collected and owned that data and offers the data for use to other companies. Zero Party Data Most durable From an owner point of view, it’s the same data as 1st party data, but with another intention. Zero Party data is data given proactively by user in a direct value exchange. 02 1st Party Data
  • 17. 17 TRKKN Proprietary & Confidential TRKKN Proprietary & Confidential 1st Party Data comes with great advantages ● Accuracy: As the organization is owning that data, it is able to fully understand the way how it's collected and ensure data quality. It is able to identity and resolve data lacks and ensure accuracy. ● Transparency: At any point in the process of data collection, the organizations knows how data is collected. There is no hidden point. ● Enrichment: First party data allows to enrich data with other data sources, like CRM systems or email-tools. This means, that additional value can be generated by combining and enriching data. ● Privacy & Trust: By having privacy rules established, an organization can ensure privacy standards to the audience and build trust. 02 1st Party Data
  • 18. 18 TRKKN Proprietary & Confidential TRKKN Proprietary & Confidential Increase 1st party data with a higher log-in rate, app usage or loyalty program When it comes to 1st party data sources, companies are limited to their active audience reach. In order to increase these 1st party data sources and to develop direct customer relationships, customer programs and use cases can help to exchange value for customer data. Login for website App development Loyalty Program ● Build customer profiles based on login data ● Measure the customer history ● Personalized messaging based on profile data ● Reach the customer on their phones and use features like notifications for direct messaging ● Combine app login with website logging for cross device tracking ● Offer a bonus system for loyal clients ● Build Build customer profiles ● Measure the customer history 02 1st Party Data
  • 19. 19 TRKKN Proprietary & Confidential TRKKN Proprietary & Confidential Data in exchange for value: What is the value proposition? The user perception for data collection has changed during the increase of governmental restrictions, like GDPR and the rise of consent banners. On the other hand, users wants to get more meaningful and personalized content which servers their needs. In order to do so, companies needs to understand these needs. Offering the right value in exchange for user data can positively change the perception of data sharing and the user is willing to provide their data. Examples for the value Proposition in exchange for data ● Sharing profile data, like size, gender and fashion preferences for an fashion retailer in exchange for personalized offers and product recommendations. ● Surveys with helps the company to understand user interests and to notify the customer when an item of choice is in sale 02 1st Party Data
  • 20. 20 TRKKN Proprietary & Confidential Privacy & Trust
  • 21. 21 TRKKN Proprietary & Confidential TRKKN Proprietary & Confidential Building trust is more important than ever Privacy expectations are rising… As privacy becomes ever more present and important there is an opportunity for the whole advertising industry to connect with users and develop greater trust in the ecosystem. At the same time, Google wants to ensure they can help keep the ecosystem thriving in a privacy-safe world. ● User trust is important to business success and to users around the world ● According to the 2020 Edelman Trust Barometer, brand trust is the second most important purchasing factor for brands across most geographies, age groups, gender and income levels. ● And, Google’s research with BCG shows that when consumers trust a brand, they are about twice as willing to share their personal information … but high privacy standards pay off in user trust 02 Privacy & Trust 03 Privacy & Trust
  • 22. 22 TRKKN Proprietary & Confidential TRKKN Proprietary & Confidential User trust is based on Security, Transparency, Control and Usefulness When it comes to helping your clients earn their customers’ trust, Google discovered that four key levers matter the most: Security, transparency, control and usefulness. Security Security is about protecting personal information by safeguarding user data. Transparency Transparency, or being clear about what advertisers are doing with data in a way that’s simple to understand. Usefulness Usefulness, which is about translating all this into something that’s relevant and helpful to users. Control Control, which is how and where advertisers offer the ability for users to easily turn on or off what’s collected. 02 Privacy & Trust 03 Privacy & Trust
  • 23. 23 TRKKN Proprietary & Confidential TRKKN Proprietary & Confidential Building a direct customer relationship and communicate with your audience Meaningful Memorable Manageable Many companies are already building direct relationships with their audiences by providing them with real value. This helps you generate first-party data which may drive better performance. To get started, use this easy-to-remember three-M approach: making data sharing meaningful, memorable, and manageable. To make it meaningful, show the user the value of the exchange. Make clear that the reward for sharing data is more relevant content — the kind of things that they actually want to see. To make it memorable, people should be able to remember having shared the data that informs the marketing that they see. Know how and why you’ll be collecting data, and communicate that with your users. To make it manageable, ensure users understand their data sharing and have proper, easy-to-use controls to manage it. 03 Privacy & Trust
  • 24. 24 TRKKN Proprietary & Confidential For a future-proofed marketing setup 1st Party Data Maturity Framework
  • 25. 25 TRKKN Proprietary & Confidential TRKKN Proprietary & Confidential Digital Maturity: Significant business value by reaching Multi- moment Source: BCG-Google maturity assessment (survey conducted from March 26 to April 14, 2021). Nascent Emerging Connected Multi-Moment 30% efficiency gain 20% increase in sales Media Focus Tech Focus Integrations/ Data Focus Data-driven Marketing Focus 04 1st Party Data Maturity Framework
  • 26. 26 TRKKN Proprietary & Confidential TRKKN Proprietary & Confidential Brands with high digital marketing maturity are more likely to grow market share Low-maturity brands* High-maturity brands** 15 40 >2x 85 60 Grew market share Did not Grew market share Source: BCG-Google maturity assessment (survey conducted from March 26 to April 14, 2021). Note: “Market share” refers to a comparison with brands’ industry peers. Survey question: “How much has your market share changed during the last year? Please specify estimated positive or negative percentage point change—e.g., from 30% market share to 40% market share is +10 percent- age points.” *Nascent and emerging brands. **Connected and multimoment brands. 04 1st Party Data Maturity Framework
  • 27. 27 TRKKN Proprietary & Confidential TRKKN Proprietary & Confidential 1st Party data as one important accelerator in the organization Organizational Source: BCG Analysis - BCG-The-Fast-Track-to-Digital-Marketing-Maturity-Aug-2021 Technical Accelerator 1st Party Data End-to-end Measurement Agil Performance loops based on test-and-learn 1 2 3 Strategic Data End-to-end Measurement Automation and integrated tech Agile teaming and fail-fast culture Customer value and trust 1 2 3 04 1st Party Data Maturity Framework
  • 28. 28 TRKKN Proprietary & Confidential TRKKN Proprietary & Confidential 1st Party Data Maturity Framework: Step-by-step approach to increase Tech Accelerators 1st party data End-to-end measurement Set the Foundation Build Connection Make Every Moment Matter Nascent Emerging Connected Multi-Moment ● Understand current data ● Ensure basic data quality ● Connect goals and align objectives between business and marketing ● Acquire 1st party data by building trust ● Link online data with CRM ● Set up a cross-functional privacy team ● Define appropriate tracking in place ● Use predictive marketing attribution models ● Build a compelling story across the entire customer journey for 1st party data ● Develop end-to-end measurement (cross- channel and cross-device) ● Use predictive models (uplift test, modeled conversions) to complete journey and fill data gaps Source: BCG Analysis - BCG-The-Fast-Track-to-Digital-Marketing-Maturity-Aug-2022 04 1st Party Data Maturity Framework
  • 29. 29 TRKKN Proprietary & Confidential TRKKN Proprietary & Confidential Increasing the digital maturity by focusing on actionable steps From low-maturity features … … to high-maturity features ● Build trust with customers on the basis of A/B testing in order to capture 1st party data Source: BCG Analysis - BCG-The-Fast-Track-to-Digital-Marketing-Maturity-Aug-2021 ● Lack of strategy to overcome the obsolescence of 3rd party data and to incorporate 1st party data ● Have no or limited linking of customer data ● Lack a team dedicated to managing privacy requirements ● Link all or most customer data (including online and offline) used in marketing activation ● Have strategic and privacy-ready data processes overseen by dedicated cross-functional privacy team 04 1st Party Data Maturity Framework
  • 30. 30 TRKKN Proprietary & Confidential TRKKN Proprietary & Confidential How: - Brainstorm Session (goals to data) - Data Analyses Who: analytics, marketing, IT How: - Technical Assessment (identifying the best solution) - Implementation Who: Decision makers, analytics, technical infrastructure owner, IT How: - Personalization - Dynamic Pricing - Demand Forcasting Who: Decision makers & manager, analytics, marketing 1st Party Data Strategy Components Status Quo Analyses & Definition of Business Goals Goal: Understanding the goals, challenges and opportunities on order to create a project foundation. Define Data Activation Use Cases. 1 2 3 Data Requirements & Data Quality Goal: Determine if the required data is available or if additional data needs to be implemented in order to achieve and measure the business goal. 4 How: - Digital Maturity Assessment - Goal Workshop Who: Decision makers & manager, analytics, marketing, IT Data Collection Implementation Goal: Implementation of missing tracking Establish a Data Storage System Goal: Combining all data sources in one central point of storage in order to break down data silos and to rely on a single source of truth. Data Management Plan Goal: Develop policies & procedures for managing your 1st PD Data Privacy Audit Goal: Keeping all data and processes in terms with privacy regulations. Data Activation Goal: Agreeing on activation use cases to use 1st party for marketing purposes, personalization or in customer service. 04 Implementation Process
  • 31. TRKKN Proprietary & Confidential TRKKN Proprietary & Confidential www.trkkn.com Vimal Badiani Managing Director MENA vimal.badiani@trkkn.com Thank you!