In the previous article, we looked at some key considerations for media owners before using their first-party data.
First-party data collaboration in data clean rooms
Data clean rooms offer media owners and brands new possibilities for sharing even the most sensitive data, thanks to the fact that their data remains encrypted at all times, even when it is being analyzed in the data clean room. This ensures that data sharing always remains compliant with data privacy regulations.
As media owners and brands bring their first-party customer data together in a data clean room, they can now match customers’ personally identifiable information (PII) – or data that could be used to identify a person, such as full name, email address, passport number, etc.
In a world without third-party cookies, this matching of customer data between media owners and brands is extremely powerful and can benefit both parties in the following ways:
1. Media owners can justify their value and generate more ad revenue
By collaborating on first-party customer data, media owners enable brands to assess customer overlap and guarantee more precise audience reach. This allows media owners to better compete against ad giants such as Facebook and Google.
Media owners can justify the value of their audience to brands and demonstrate why brands should spend their ad budget on campaigns with them. This could lead brands to redirect their ad budget from the likes of Facebook and Google, and instead allocate a greater share of their ad budget to media owners.
2. Media owners can support brands in building lookalike audiences
With such first-party data collaboration, brands can better understand their customer profiles and leverage the media owner’s audiences to build lookalike target audiences.
After computing lookalike audiences, media owners can support brands by activating these more precise audiences. This enables the brand's advertising to reach the best segments of consumers who are more likely to purchase their products or services, and thus contribute to a higher return on ad spend.
3. Brands can have greater transparency into the attribution of ad campaigns
Brands can also have an overview of the effectiveness of various ad campaigns running across different media owners. By matching the media owner and brand’s first-party data, brands can gain a deeper understanding of the impact of their advertising on purchasing decisions.
This would enable brands to better evaluate the effectiveness of their campaigns across each platform. With this additional access and greater transparency, brands are better equipped to optimize their ad spend, refine their messaging and targeting on different channels, ultimately to improve their customer marketing and retention.
Securely collaborate on first-party data in Decentriq
If you want to know more about how Decentriq's data clean rooms can enable you to work with brands on sensitive data, feel free to reach out here now or visit this page for more information.
Our data clean rooms are powered by confidential computing, which is an encryption in-use technology that guarantees media owners and brands the highest levels of data privacy – so much so that neither Decentriq, as the data clean room provider, nor the cloud provider can see or access your data.
Both media owners and brands can rest assured knowing their confidential first-party customer data will never be exposed or seen by anyone other than the data owner.
Media owners and brands can now securely and compliantly collaborate on their first-party data in minutes. Not only would this enable brands to survive the death of third-party cookies, but also to thrive with their advertising in a world without cookies.