Navigating the post-cookie era: Exploring alternative strategies for consumer businesses

European data protection law has brought about a profound transformation in how customer data is handled. It empowers consumers with greater control while companies face the challenge of meeting stringent requirements. The discontinuation of third-party cookies calls for a comprehensive reassessment. However, embracing these changes will create a more secure and privacy-conscious digital landscape. Trust in the potential benefits as we adapt and navigate this evolving terrain.

A fundamental shift in our mindset

Contrary to initial impressions, stringent data protection regulations offer not just a benefit to consumers, ensuring the respect and safeguarding of their data, but also provide companies with an opportunity to establish trust and loyalty with their customers. Transparency and privacy-respecting practices are valued by consumers, leading to greater customer engagement and, ultimately, elevated sales.

However, this approach requires a rethink in companies. Instead of seeing customer data as a resource that can be exploited endlessly, companies should consider it a valuable asset that must be handled carefully. The aim is to see consumers as partners rather than targets, which can be achieved through transparent communication and conscious data handling. Data protection is not just about compliance with regulations but also offers companies the chance to improve relationships with their customers and sustainably grow their business.

First-Party Data as key to success

Third-party cookies, like Facebook cookie, are still essential for personalised advertising and customer retargeting. However, planning for a future without them has already begun, and many browsers are blocking them by default. Marketers should see this change as an incentive to develop effective strategies that respect consumers' privacy. There are alternatives that marketers can consider to offset the loss of third-party cookies. For example, first-party data tracking, where companies collect data directly from their customers, offers a significant opportunity.

With first-party data, marketers can create personalised and relevant advertising based on customers' individual preferences and behaviours, which can increase engagement and, ultimately, conversions. In addition, companies can use so-called zero-party data, where customers actively share information, such as preferences regarding products or services.

Benefits of Zero- and First-Party Data at a Glance

Higher reliability

Zero- and First-Party data comes directly from the company's customers or users and is therefore more reliable than third-party data. It is also technically gathered more robustly compared to browser-based 3rd party data. The data is based on unambiguous identification of individual customers, not (only) cookie-based browsing data.

More relevance

Zero- and First-Party data are specific to the company and its customers. They provide insights into the target group's behaviour, preferences, interests and needs.

Stronger competitive advantage

By using zero- and first-party data, companies can gain a competitive advantage by collecting, analysing and using data to make data-driven decisions. There is no 3rd party in between who is participating in the benefit.

Better data protection

Zero- and first-party data enable companies to better comply with data protection regulations as they have complete control over this data.

Long-term relationship with customers

By continuously collecting and analysing data, companies can better understand their customers, anticipate their needs and offer personalised experiences. I

n short, despite the restrictive data protection policy of the EU, companies can still communicate personally with their customers. The answer lies in controlling customer data and rethinking away from third-party cookies towards zero- and first-party data.

First-Party Data Tracking with Customer Data Platforms

Customer Data Platforms like Custobar play a crucial role in first-party data tracking. They act as a centralised database that collects, organises and stores all relevant customer data from various sources. These platforms allow companies to collect and analyse customer data in real-time, providing a comprehensive and accurate picture of their customers which then can be used in targeting marketing campaigns and automations in various channels. This includes behavioural, transactional, geographical data, and other specific customer details.

In addition, companies can use the Custobar CDP to execute personalised marketing campaigns and enhance customer engagement by delivering relevant and targeted content. Finally, a CDP aids in adhering to data protection regulations by ensuring that all customer data is securely stored and properly managed.