With the Common Data Protection Regulation ( GDPR ) shortly to be in full force, marketers are searching to move away from their reliance upon third-party data.
GDPR is a set of sweeping rules that will govern the handling of Eu users’ data, no matter where they are situated. The deadline for enforcement from the legislation is May 25.
What is third-party data?
First, let’ s determine what we’ re talking about. Every single business uses some form of customer information, mostly first-party, which means that the company offers collected and stored the data by itself. This data is used to manage present customers. But when companies want to discover new customers, they use third-party cookies to focus on and retarget prospective customers across several touch points — an exercise that some marketers say has already been dying.
Omer Artun, CEO and founder of client data platform provider AgilOne, describes.
“ The idea of third-party data basically pulls from 2 areas, ” Artun said. “ First, there is the original reason third-party data became important to marketers, that is that they wanted to buy categories of would-be based on socioeconomic status, age, revenue, etc .; in other words, third-party data grew to become important for data append use situations. The second reason third-party data became essential was because ad systems grew to become dependent on it. Their business model depends on cookie sharing across the board. ”
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