Amol Waishampayan, Chief Product Officer at FullThrottle chats about using insights from your customer journey to drive the overall marketing and ad experience in this catch-up:

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Welcome to this MarTech Series chat, Amol, tell us about yourself and more about your role at FullThrottle?

I’m the Chief Product Officer at FullThrottle and since the company’s inception have been responsible for leading its technology, platform strategy, product roadmap, data science, and engineering. As a lifelong entrepreneur, my previous experiences include a successful exit with my first start-up and more than a decade on the advertising agency and client side of global facing brands.

I’m driven by the relentless pursuit of first-party data powered AdTech and enjoy speaking about it at industry events. I’m also a blockchain enthusiast, focused on the expanding web3 space and a champion of the freedom to build software development methodology. I have a Bachelors of Science in Business & Technology from Stevens Institute of Technology.

When it comes to optimizing first-party data practices for today’s marketers/advertisers: what are some tips you’d share and biggest cautionary pointers too?

We talk a lot about the walled gardens – the confines that we are kept in when we rely on someone else to do all the work – and breaking out from those walls in the name of true data independence.

• It’s a critical best practice to OWN – and KNOW – your audience.
• Don’t depend on a checkbox in Facebook, Google, or a DSP where you have no idea who is behind the audience or what they do – or even where the data is coming from.

Another best practice – tend to your data.

• Ensure there is a process in place to keep getting NEW first-party data.
• The heavy lift is making sure you have a source from which to generate new data,—and keep any first-party data you already have in your stack up to date.

Report the power

• Create a library of reporting that illustrates just how valuable this data is -whether that means tying it back to a transaction , telling the story of a customer journey, etc.
• Our new patented technology empowers brands to do this – it’s our ethos – and is part of the reason we created this technology in the first place.

By taking back control of your data – you can thrive outside the walled gardens, and gain true data independence, with the successful results to prove it’s all worth it.

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How can marketers and advertisers use their first party data gathering models to also enhance the user experience, creatively?

With more data comes the opportunity to better understand the potential customer.

We can see with FullThrottle’s technology and products that they give us unrivaled insight into which part of the marketing mix results in a lift – and when we say lift, we mean dollars generated.

We’re talking about going beyond the traditional ways we measure success (CTR, number of clicks, etc.) and focusing on what is driving actual sales, transactions, and real business results.

This can help marketers shift away from relying on outdated ad-based metrics.

The goal here is a truly complete loop – following the customer journey beyond a site visit, beyond a click, beyond a form fill – all the way until the transaction, and then keeping them engaged with messaging and advertising – based on what we’ve learned – to ensure they continue to buy and stay loyal (in a time when shopper loyalty is rare).

Beyond that – we can use these new insights about the customer journey to refine messaging for better accuracy, eventually establishing a one-to-one relationship with the consumer based entirely on data, learned behaviors and validated signals, speaking to their wants and needs, without them having to say it.

How do you see the future of first party data shaping up?

Brands that are leaning into first party data have a leg up.

Data independence is crucial for survival for brands, publishers, and their agency partners. We allow all these parties to identify, market, and measure first data through managed solutions or through our API platform. It’s essential for brands to set the stage to own their own data and audiences as time goes on and traditional cookie-based retargeting fades away. Make those connections and establish those partnerships to ensure you are covered when the time comes!

At FullThrottle, we have been pioneers in the audience building and activation of the future – and will continue to push the AdTech industry to embrace cutting-edge solutions. Our patented technology is the number one source of first-party data transformation, creation, and enablement in what will become an increasingly parched post-cookie AdTech world.

What top of mind predictions do you have for digital marketing and digital advertising segments in 2023?  

Brands that strive towards data independence and a direct relationship with their customers will create a more stable ground for themselves as third-party data becomes less available.

Privacy laws will change how companies acquire consumer data, and opt-out options will increase.

Businesses that rely on third-party data will struggle, creating a need for companies to shift to a first-party data model.

AdTech agencies will have to get more creative with how they best navigate relationships with consumers to ensure a fair value exchange for both.

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