- The phase-out of third-party sweets is seen as a chance.
- 64 % of consumers feel more at ease talking directly to businesses.
According to recent research from Twilio, the user engagement platform that powers real-time, personalized experiences for today’s top brands, marketers in APAC are now more accepting of this impending change as they recognize the chance to increase trust even more by using other data sources, especially zero and first-party data.
Formally, 90 % of local marketers concur that the demise of third-party cookies may result in increased use of customer data that they deliberately and directly share, making it potentially more valuable for marketers. Additionally, 92 % of advertisers in the area think that eventually phasing out third-party cookies can increase consumer confidence in marketing.
Businesses must reevaluate their data management strategies in the wake of the new client information revolution in order to increase effective customer engagement. According to Nicholas Kontopoulos( pic ), Vice President of Marketing, Asia Pacific & amp, Japan, Twilio, trust is now the foundation for marketing success, so brands must be more open about how they use data to unlock meaningful value for consumers.
The long-term effects of the cookieless coming as shaped by shifting consumer preferences and aspirations around information sharing are examined in Twilio’s When Consumers Control Data: How to Build Trust and Triumph in the New Digital Era. 600 businesses from APAC-based organizations in Singapore, Hong Kong, Australia, the Philippines, Indonesia, and Japan contributed to the report, which was published in The Consumer Data Revolution in Asia Pacific statement.
The third-party cookie sunset’s fresh warrior is Zero.
Third-party cookies, which have been a mainstay of online marketing for decades, have come under fire recently as high-profile breaches highlight data privacy concerns. 42 % of consumers are less likely to share information with companies that have suffered a serious data breach, according to the document The Consumer Data Revolution in Asia Pacific.
Big web sites have phased out help for third-party cookies, with Google following coat by 2024, in response to growing regulation and consumer pressure for better power and clarity around data sharing. While this has initially caused a panic in an advertising sector that has become cookie-reliant, businesses in the area are gradually realizing how fresh methods of gathering and using information can potentially create more important consumer confidence, with 84 % of organizations there supporting customer data privacy and welcoming the phase-out of third-party sweets. In addition, 76 % of marketers in APAC have noticed a decline in the quantity and quality of personal information gleaned from third-party data sources, which is one of the reasons many have started incorporating both first – and zero data into their marketing strategies prior to the third party cookie sunset.
Zero-party data is particularly valuable to marketers because it enables brands to tailor marketing initiatives to each customer’s preferences and motivations, enhance services through customer feedback on issues, and fortify relationships by building a stronger sense of trust. Customers consciously and strategically share this data through surveys and other direct feedback avenues. & nbsp,
According to Twilio’s study, 92 % of marketers surveyed in APAC are already gathering zero-party data, primarily through surveys( 58 %), social media polls( 52 %), and email campaigns( 51 %), which is a step in the right direction given rising consumer expectations regarding consent and transparency. Additionally, 64 % of local consumers prefer to interact with or listen to companies that get their information directly from them rather than from third parties.
Due to a lack of visibility over third parties’ data safeguards, security plans, and procedures, 69 % of organizations in APAC have also switched to first-party data in addition to zero – party data. First-party data is silently gathered as users interact with an organization’s owned programs to grow or nurture their existing client base, as opposed to zero – gathering information, which consumers freely share with brands. 75 % of marketers now have a fundamental understanding of the benefits of first-party data, such as how it can be used to increase accuracy, flexibility, and control while also being more important for personalizing engagement and targeting the right customers.
Reevaluating the citation theory
There is still a transition space to meaningfully using their zero and first-party information, despite the fact that 49 % of organizations in the region feel more prepared to walk off to the third party cookie twilight than in 2021. The most pressing problem facing businesses in the area when it comes to gathering information on consumers is customer resistance, which calls for a more sophisticated strategy.
60 % of consumers in the region expect clear and understandable knowledge about how their information will be used to increase their confidence in companies, according to The Consumer Data Revolution in Asia Pacific. Additionally, consumers are more likely to share information with companies that offer positive customer experiences( 57 %), or who are open and honest about their policies( 57 %). It’s interesting to note that users are generally willing to share information that can be useful to them. For example, 42 % of consumers say they feel comfortable receiving targeted advertisements after browsing a product at the department store, and more than 50 % of customers claim that personalized advertising give them more choices after making purchases.
The combination of zero and first-party data will give marketers new tools to take control of the product experience as brands’ attention shifts from personalization to personalized customer engagement. Open communication, responsible consumer data usage, and consistent value delivery throughout the customer relationship life will be the way forwards with 74 % of the country’s buyers willing to share more information with reputable companies.
Methodology
In January 2023, Twilio polled 600 APAC mature and mid-level entrepreneurs and business owners, 100 each from Australia, Hong Kong, Indonesia, Japan, the Philippines, and Singapore for its report,” When Consumers Control Data: How to Build Trust and Triumph in the New Digital Time.” A study of 1,500 customers in Australia, Hong Kong, Indonesia, Japan, the Philippines, and Singapore was conducted by Twilio separately for its record on the” Consumer Data Revolution in Asia Pacific.”