Advertising Intelligence & The Importance of a First-Party Data Strategy
The latest Apple iOS 14.5 update has new privacy controls called Ad Tracking Transparency that allow users to opt out from being tracked by apps — which have been the latest talk in the industry, given how many brands heavily rely on this for advertising purposes.
The 411 on Ad Tracking Transparency: users now have a say in how they’re tracked and how apps can use this data. As a user, if you have updated your device recently, you will notice a pop-up notification that asks if you would like the app you are launching to track your activity across other apps and websites. According to Flurry Analytics, 94% of iPhone users in the US are using ATT to opt out of tracking. Coinciding with this update, Apple has launched a massive campaign to champion its protection of personal information called “Privacy. That’s iPhone.”
For advertisers, this means some valuable data is no longer accessible to them if users opt out — insights which have, up until now, provided a targeted, personal approach to advertising that legacy media agencies have over-depended upon.
Nathan Hugenberger, Chief Technology Officer and Executive Vice President at Known, recently spoke to The Drum about how, as an agency setting a new standard for modern marketing, Known is helping clients navigate this update — providing them with the tools to have more ownership over their advertising intelligence.
“If before, an advertiser might have been inclined to let a black box platform figure out what works, that now seems risky. It is better if the client actively knows and learns what really works and what their target audiences truly should be,” Nathan says.
Within the larger marketing ecosystem, privacy and iOS updates highlight the importance of having a robust first-party data strategy. Understanding this core principle will ultimately lead brands to re-think different aspects of their business.
“Clearly any client that can, should be using offline conversions and first-party CRM data wherever possible,” adds Nathan. “That drives a need for technology enablement, and our data science and data engineering teams have been working with clients to make that possible.”
Known has been helping clients use data and scientific experimentation to create a continuous learning flywheel and design campaigns to enable more cross-channel learning for efficient system learning. Nathan explains that some clients are employing highly actionable segmentation research so that they can set target audiences they know will respond well to the advertising.
It is better if the client actively knows and learns what really works and what their target audiences truly should be.
As expected, clients will want to measure their ROI and return on ad spend. With this in mind, Known has been running experiments and employing geo-testing hold outs and other methods to get accurate scientific readings on its impact. As technology changes and the way users interact with it evolves, businesses will need to pivot and trust in first-party platforms to reach their consumers more directly and transparently.
Read the full article on The Drum “Top agency execs on helping clients navigate Apple’s iOS 14.5 privacy changes” here.
