Unlocking the Power of First-Party Data: Strategies for Success This BFCM

**Editors Note - With the holiday shopping season approaching and CPMs set to spike, we reached out to the experts at Elevar to put together a guide on how to leverage first-party data to optimize your paid efforts for BFCM and beyond. 

Advertisers are navigating more challenges than ever before.

Data privacy regulations like the General Data Protection Regulation (GDPR) and California Consumer Privacy Act (CCPA).

 Consumers also want more control over their data via opt-outs, ad blockers, etc. Plus, platforms are implementing policies to aggregate data shared with businesses.

At Elevar, we believe that relevant ads are valuable to people and businesses alike, and that performance and privacy can coexist. 

Businesses that have invested in a holistic data strategy and leverage first-party data as part of that strategy are overcoming these challenges and reaping the benefits, especially during high-traffic shopping events like Black Friday Cyber Monday (BFCM).

Using First-Party Data: It’s Simpler Than You Think

First-party data might sound complex, but most ad platforms have built-in tools to help you collect it. 

Meta, for instance, offers the Meta Conversions API (CAPI) and Pixel to track customer interactions and improve your campaign strategy. 

Features like Meta’s Custom Audiences also enable you to find and engage both existing and similar new audiences.

Even better, non-native integrations like Elevar can capture more first-party data than some built-in tools. 

Elevar leverages highly durable first-party cookies, ensuring your data remains secure while helping you work around cookie restrictions.

So, how can you gather even more first-party data beyond simple transactions? 

One solution is optimizing your website to collect valuable information upfront. 

For example, adding a quiz that helps customers find their ideal product serves both your business and the customer by providing personalized recommendations and collecting key insights.

Here are a few more ways to collect first-party data:

• Offer a discount code in exchange for customer contact information.

• Establish a loyalty program that rewards sign-ups with special offers.

• Encourage and incentivize customers to leave product reviews.

By experimenting with these methods, you can significantly boost your first-party data collection, strengthening your marketing efforts.

5 Ways to Use First-Party Data

You have a wealth of data that YOU own, it is one of your most valuable assets. Especially as we head into the holidays. Here are five ways to use 1P data effectively:

1. Inform campaign strategy 

Do you know which social media platforms your customers use? Do you know their preferred communication channels? 

First-party data gives you a deep understanding of your customers’ preferences, communication channels, and behaviors. 

With this knowledge, you can make informed decisions about your campaign strategies before they go live.

2. Retarget and re-engage your customers 

Retarget customers based on their interactions with your brand. First-party data helps reduce churn and boost re-engagement by placing ads in front of people who have already shown interest.

3. Expand your customer base

First-party data allows you to find new customers similar to your current ones. Elevar makes it easy to segment new versus returning users, helping platforms like Meta build lookalike audiences for wider reach.

4. Optimize creative

Your customers are unique and dynamic, and your brand’s creative should match that.

Use first-party data to tailor your creative assets. Data-driven insights allow you to personalize ad campaigns for each customer segment, ensuring your messaging resonates with your audience.

5. Measure effectiveness of campaigns

First-party data lets you track the success of your campaigns. By analyzing customer responses, you can quickly see what’s working and make adjustments to improve future campaigns.

Pre-BFCM First-Party Data Checklist 

With BFCM approaching, it’s crucial to refine your data strategy. Here’s a checklist to ensure your business is prepared:

✅ Optimize how you’re collecting first-party data

Are you collecting customer information beyond transactions? Start experimenting with new ways to gather insights into their preferences and behaviors now to maximize results during the holiday rush.

For instance, you could introduce an interactive quiz on your website that helps customers find the perfect product while simultaneously gathering valuable insights about their preferences. 

Another approach is to offer a discount code in exchange for sign-ups, allowing you to collect email addresses and preferences at the same time.

✅ Handle data responsibly

Make sure your data collection methods are secure and compliant with GDPR, CCPA, and other regulations. Mishandling customer data can lead to lost trust and costly fines.

Elevar integrates seamlessly with consent management providers like Cookiebot and OneTrust, both of which are Google-certified CMPs (Consent Management Platforms) for web and app. 

These tools help ensure that your data collection methods are fully compliant by capturing and managing user consent, giving customers control over their data. 

With Elevar's integration, you can maintain regulatory compliance while continuing to securely gather valuable first-party data.

✅ Use 1P data to drive ROI 

Are you using features like Custom Audiences to expand your customer base and improve your ROI? 

Brands that effectively leverage first-party data see lower costs per click (CPC) and impression (CPM).

You could start using first-party data to build lookalike audiences on Meta which allows you to target potential new customers who share similar traits with your current audience. 

Brands that use these strategies typically see a reduction in CPC (cost per click) and CPM (cost per impression), leading to more efficient marketing spend.

✅ Measure and iterate

Use first-party data to continuously track and optimize your marketing efforts. Tools like Meta’s CAPI and Pixel can help ensure accurate measurement and tracking of your website and ad campaign performance.

Regularly analyze the data to see what’s working and what’s not, then iterate on your approach based on what you learn. 

By refining your efforts through data-driven insights, you’ll be able to optimize your campaigns in real time, ensuring maximum performance during the high-traffic holiday period.

Final Thoughts

First-party data is the backbone of a holistic data strategy that drives personalization—benefiting both your business and your customers.

At Elevar, we believe performance and privacy can go hand-in-hand. Our tools empower brands to harness first-party data for tailored ad campaigns while staying compliant with privacy regulations.

Ready to optimize your data strategy for BFCM? 

Book a call with Elevar to see how we can help you collect more first-party data this holiday season.