SECRET365-News
By Michael Bürgi | March 8, 2024 | 4 min read
In an age where digital information is equivalent to the world's most coveted resources, the advertising realm is witnessing the establishment of innovative data hubs and alliances that promise to redefine how marketers reach their audiences. This evolution is particularly timely as the once abundant reservoir of third-party cookies begins to evaporate.
One of the notable advancements in this domain is the introduction of Unlock Surveys by Stagwell, within its Marketing Cloud division, a mere few days before a significant partnership was announced between consumer research powerhouse Disqo and Vizio's Inscape technology. This collaboration is aimed at enriching omni-channel behavioral insights, thereby enabling advertisers and media consultants to derive more precise and deterministic insights from their campaigns.
Disqo plans to integrate Inscape's sophisticated Automatic Content Recognition (ACR) technology for TV viewing data with its own suite of tools designed to track brand influence and outcomes. This synergy is expected to offer clients a comprehensive understanding of their advertising campaigns' impact across various media, from initial brand awareness stages to the final consumer actions such as purchases and website visits.
Armen Adjemian, CEO of Disqo, emphasized the significance of merging TV viewership data with other media consumption patterns to achieve a holistic view of the consumer journey. This blend allows Disqo to map out an individual's advertising exposure and subsequent behaviors, offering unparalleled insights into the effectiveness of different advertising mediums.
Ken Norcross, Vice President of Data Licensing and Strategy at Vizio, highlighted the company's commitment to transforming the television ecosystem. With access to data from 23 million Vizio TVs, Inscape is set to revolutionize how audiences are measured across various platforms, including streaming and linear TV. Norcross assures that collaborations like the one with Disqo pave the way for more precise audience targeting and enhanced strategic planning across Vizio's various business units.
Despite Walmart's ongoing acquisition of Vizio, both Adjemian and Norcross affirm that the partnership between Disqo and Inscape remains strong and unaffected, promising business continuity.
In response to the fading reliability of third-party data sources, Stagwell has launched Unlock Surveys, developed from Maru Group's Springboard, which was acquired by Stagwell in 2022. Spearheaded by Adam Dietrich and already operational in the US, UK, and Canada, Unlock Surveys is poised to revolutionize how Stagwell's agencies gather consumer insights. Elspeth Rollert, CEO of Stagwell Marketing Cloud, anticipates significant savings and enhanced research capabilities through this internal tool, stressing the importance of first-party data in today's market dynamics.
Unlock Surveys not only addresses the immediate need for reliable data but also responds to the financial pressures often experienced by research firms due to private equity investments. One of the initial beneficiaries of Unlock Surveys is the research unit HarrisX, led by Dritan Nesho, who praises the platform for its ability to deliver high-quality insights swiftly and cost-effectively.
The trend towards developing internal competencies in consumer research mirrors broader industry movements. Omnicom's OMG Signal and Horizon Media's behavioral science unit within its WHY Group are both manifestations of agencies' growing emphasis on cultivating rich, first-party data sources, signaling a paradigm shift in how advertising strategies are crafted in the digital age.
As the landscape of digital advertising continues to evolve, these strategic partnerships and innovations underline the industry's resilience and adaptability. By leveraging the power of first-party data and cutting-edge technology, advertisers and media agencies are set to navigate the challenges of a post-cookie world with greater precision and effectiveness.
Unlocking the Power of First-Party Data: Agencies Pivot to Consumer Research Panels as Cookies Crumble
In the rapidly evolving digital landscape, the imminent phase-out of third-party cookies has sparked a strategic reevaluation within marketing and advertising agencies. As traditional methods of data collection face obsolescence, the spotlight has turned to first-party data and, more specifically, consumer research panels. This pivot not only addresses the privacy concerns of the modern internet user but also opens up a wealth of opportunities for personalization and customer engagement.
First-party data is information collected directly from your audience or customers. It includes data from behaviors, actions, or interests demonstrated across your website or app, data from CRM, subscription data, social media interactions, and customer feedback. Unlike third-party data, first-party data is collected with consent, making it more reliable and valuable for creating personalized marketing strategies.
With the demise of cookies, agencies are increasingly turning to consumer research panels as a viable alternative for data collection. These panels consist of curated groups of people who have agreed to provide feedback on various aspects, such as product development, marketing strategies, and customer experience.
This approach not only allows agencies to gather rich, actionable insights but also fosters a deeper connection between brands and their consumers.
Transitioning towards a model that prioritizes first-party data through consumer research panels requires thoughtful planning and execution. Here are some practical tips:
Consider the case of a mid-sized beauty brand that shifted its focus towards first-party data through consumer research panels. By engaging its audience in product development and marketing strategies, the brand saw a 30% increase in customer retention and a 25% increase in sales over one year. This example underscores the potential of consumer panels in driving business outcomes.
In conversations with agencies that have embraced consumer research panels, a common theme emerges: the value of real, actionable insights directly from the target audience. Agencies report improved campaign performance, enhanced customer satisfaction, and increased ROI. Moreover, this approach has paved the way for more innovative and customer-centric strategies.
As agencies navigate the post-cookie world, the pivot to consumer research panels represents a strategic evolution. By harnessing the power of first-party data, brands can unlock a deeper understanding of their customers, drive engagement, and foster loyalty. The path forward is clear: a focus on direct, consent-based data collection methods that respect privacy and deliver value both to brands and consumers alike.
| Industry | Engagement Rate | Insights Utilized |
|-----------------|-----------------|-------------------|
| Retail | 85% | Product Feedback, Shopping Habits |
| Technology | 80% | User Experience, Feature Requests |
| Healthcare | 75% | Service Improvement, Patient Care |
| Beauty | 90% | Product Development, Marketing Strategies |
Table 1: The table showcases the engagement rate of consumer research panels across different industries and how the insights are utilized.
In conclusion, as the digital marketing ecosystem evolves, so too must the strategies agencies employ to gather and analyze consumer data. The shift towards first-party data and consumer research panels is not just a reaction to changing regulations and technologies; it's an opportunity to build more meaningful and mutually beneficial relationships with customers. Agencies that recognize and act on this shift will be well-positioned for success in the privacy-first digital age.
Meta Title: Embrace First-Party Data: Why Agencies Are Turning to Consumer Research Panels
Meta Description: Discover how agencies pivot to consumer research panels for valuable first-party data as the reliance on cookies fades. Learn the benefits, practical tips, and industry insights for a successful transition.
