First party problems: New report highlights strategic shift in going direct to consumers

Cint, a pioneer in research technology and digital insights, has released findings from ‘The State of Data Collaboration: A Global Perspective’, a joint report on marketer and agency challenges in association with data collaboration innovator, Lotame.

Against a backdrop of ubiquitous data challenges and continued investment in marketing and data technology, the report highlights that more than two thirds of marketers and agencies (70%) recognise the urgency of leveraging first-party data.

Across the countries surveyed, finding quality sources/partners for data enrichment, collaboration or modelling is the number one challenge, followed by the limits of first-party data collection to tell a complete story. To address these challenges, 53% of marketers and 50% of agencies plan to use artificial intelligence.

When it comes to identification, nearly a third (32%) of marketers and more than a fifth (21%) of agencies are 100% reliant on third-party cookies. The research shows that a portfolio approach to identity solutions has emerged, with marketers using at least 2.6 solutions in tandem while agencies hit 2.9.

Elsewhere, the research revealed that 55% of marketers and 45% of agencies anticipate a reduction in programmatic spend and that investment in ad spend is likely to be split evenly between closed, ‘walled gardens’ and the open web.

“This research offers a deeper view of how marketers and agencies are navigating the current advertising challenges,” says Laura Manning, SVP, Measurement at Cint. “The findings reveal a range of strategies being adopted, but the primacy of first-party data remains, even if it is now problematic to ensure that data is totally fit for purpose as 98% of marketers and agencies say they encounter barriers in data orchestration and utilisation.  As the industry continues to evolve, we see a growing emphasis on innovative solutions to enhance audience targeting, personalization, and overall data orchestration and activation – and the research certainly suggests a willingness to invest in this as 99% of respondents plan to adopt new marketing technologies and 96% plan to adopt new data technologies.”

“The landscape is undergoing yet another significant transformation, as marketers continue to recognize the blockers to engaging prospects amid an addressability gap,” says Andy Monfried, CEO of Lotame. “Orchestrating and activating data remains a major struggle for marketers and agencies, both inside and outside their organizations. However, they are finally overcoming this barrier through a combination of technology and shift in mindset. Rather than becoming mini walled gardens, marketers and agencies are realizing that a rising tide lifts all boats and are embracing a collaborative approach to data — enabled by data collaboration platforms.”

‘The State of Data Collaboration: A Global Perspective’ can be downloaded here.