CANNES — In a world where cookies are crumbling, IP addresses are being suppressed, and mobile identifiers are being blocked, first-party data has emerged as the new currency for creating personalized experiences.
It’s an avenue for collaboration among partners to surprise and delight users and customers, according to Mike Petrella, MD of Strategic Partnerships at Kinective Media by United Airlines.
In this video interview with Beet.TV, he says first-party data, when done right, allows for the creation of better, more targeted experiences that evoke emotion.
Clean Rooms Facilitate Sophisticated Data Analysis
As more first-party data becomes available and transactional data becomes more important, clean rooms offer the opportunity to take sensitive data and marry offline and online conversion data to create a robust, holistic return on ad spend (ROAS).
“From a marketer’s standpoint, clean rooms now give me the signal in terms of the power and the value of my data, not just the performance of the campaign,” Petrella says.
“You’ll see more and more as retailers, as commerce networks, as literally any brand can now come into this interactive space and play.”
Customizing Experiences with First-Party Data
Clean rooms are emerging not just as a solution to moving data with privacy in mind, but also to doing more with that data.
The insights gained from clean rooms allow for the customization and evolution of campaigns.
“If my brand is going to stand ahead of anyone, I want to ensure that I’m talking to the individual, not to the masses,” Petrella says. “The interaction with clean rooms allows me to get just a better view of that.”
AI-Powered Insights on the Horizon
Looking ahead, Petrella sees AI as a powerful tool for generating insights from reporting and analysis. By applying AI within the reporting and analysis process, he says marketers can uncover insights they wouldn’t even think to ask about.
“From past learnings, that constant application, that cyclical learning cycle, will allow you to essentially learn things you wouldn’t even think about asking,” Petrella says. “The implementation of AI within that piece, I think, is going to be a very powerful tool.”
You’re watching “Global Leadership Summit: Retail & Commerce Media,” a Beet.TV Leadership Series at Cannes Lions 2024 presented by CMX, Criteo, LiveRamp & Snap. For more videos from this series, please visit this page. To view all of Beet.TV’s Cannes Lions 2024 content, please visit this page.
