The digital advertising space has been a little too comfortable with data collection. For years, third-party cookies have collected the audience’s data for the marketers, while we have followed the same structure. But with the ever-evolving digital landscape, a lot has changed and that era of relying on third-party data is taking a backseat.
Privacy regulations have cracked down and now consumers are more aware than ever, in terms of how their data is being used. Brands can no longer “guess” their way through audience targeting as that will not earn them significant and desirable results. Marketers need something more accurate, precise and something that’s more than just an assumption. And this is where first-party data comes in the picture. If you aren’t utilizing this already then this is the time and IncrementX is one you can trust.
Let’s dive deep into the blog and understand how first-party data is integrating itself with the new era of multicultural marketing.
Table of contents:
The Reality of Multicultural Marketing Today
The growth of the multicultural market and their spending power is unparalleled. But, a lot of brands still think of it as an add on. For an instance, it takes more than just a campaign during Hispanic Heritage Month or a social media post during a Chinese festival to be multicultural.
Multiculturalism is growing and how, and it’s very important for the advertisers to be inclusive if they want to tap into a broader and wider audience. Even though it’s becoming extremely relevant now, the marketing still lags behind. What could possibly be the reason here? Not collecting and utilizing first-party data. Relying on outdated data is not enough, as it barely scratches the surface of cultural identity. Let’s take an example here. Knowing a 30 year old Hispanic woman living in the U.S. is different than understanding her buying decisions, and 1st party data focuses on the latter.
What Does First-Party Data Look Like in Action?
First-party data solely focuses on accuracy. So, these insights are basically derived from consumers themselves where they willingly share their data via email engagement, feedback, purchase history, social media interactions, etc. It’s authentic, raw and trustworthy, which gives brands an edge as they don’t need to guess anymore. Let’s understand how it looks in action.
Let’s imagine you’re running an ad campaign for a beauty brand. So, ideally or traditionally your data collection might look something like this:
- Women between the age of 18-40
- Interested in skincare
- Located in Tier 1 & Tier 2 cities
That’s how the traditional way of data collection looks like, which works but it’s not too specific and niche, which makes targeting a little difficult. Now, let’s look at first-party data:
- Women between the age of 18-25 prefer glossy lipsticks over matte ones.
- Consumers in Tier 1 cities engage with video ads in comparison to Tier 2 consumers.
- 62% of women prefer clean beauty brands.
This is the difference. First-party data tells you how your potential consumers actually behave and what drives their buying behavior. This kind of specific data majorly helps with targeting. IncrementX helps with the same, with its extensive premium inventory that spans across multiple publishers and advertisers.
How Does First-Party Data Define Multicultural Marketing?
First-party data is ideal especially when you’re targeting a market which is underrepresented, as it not only helps with building genuine relationships but also helps with accurate targeting and insights.
Instead of guessing whether or not you, as a brand, are correctly representing these cultural aspects, it’s better to rely on the data which the consumers themselves offer. IncrementX is already helping brands bridge this gap, ensuring first-party data fuels smarter, more impactful multicultural strategies.
So, if you’re on a lookout for such strategies, you know whom to connect with now!
