Kristina Prokop, CEO and Co-founder of Eyeota, explains how the concept of cohorts is not a novelty in the marketing industry and why cohorts are the logical go-to strategy for advertisers in a privacy-first world.
Did you know? According to eMarketer, the US telecom industry will be the fourth-largest spender in digital advertising this year, with $13.99 billion spent on digital ads. Eyeota can help you optimize your digital ad spend to reach the right customers.
Even in a marketplace where a substantial amount of customer interactions happen in digital channels, it’s still difficult to form a complete understanding of your customers. While robust first-party data provides you with what you currently know about your customers at a segment level and how they engage with you, data enrichment can help you go deeper.
Late last year, Kristina Prokop sat down with Project A’s Florian Heinemann for a general chat about Kristina’s time with Eyeota. One of the subjects that came up was the importance of first-party data and the confusing terminology that surrounds the three main data types.
That exchange turned out to be one of the most popular excerpts from the interview, so we thought it was worthwhile to provide you with a refresher on what the terms, first-, second- and third-party data actually mean.
After that, we’ll talk about why we should change the terminology to be more transparent and why the distinction between first-party and “non first-party” is the only one you need to worry about.
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