Hi there! Welcome to Bonsai
Thank you for your interest in learning more about third party data. Here at Bonsai, we believe the true potential of your business growth and success lies in prioritizing your first party data — putting your third party data to rest.
Read more below from our co-founder, Matt Butler, on how to design, unify and utilize your first party data for stellar business growth.
Businesses need to wean themselves off 3rd-party data dependence not because it violates users’ trust (it does), leads to broken incentive structures (it does), or rewards frequent fleeting attention (it does). They should stop because that system sucks at making them money.
When you turn over advertising investment decisions to your advertising network, it can’t help but consider it’s own monetary interests alongside your interests as the advertiser. This means some of your money goes to drive your business outcomes, and the rest of the money goes towards optimizing the advertising networks own yield. Does this sound strange? It should.
Imagine if your payroll software told you what you’re employee’s salaries were going to be, and set the payment cycle based on how it increased it’s own payroll management revenue. Imagine if your restaurant served your entrée based on what the kitchen hadn’t yet sold. Imagine if your Uber driver took you to where the next riders were waiting, instead of back to your home.
You probably can’t imagine this, because it’s preposterous. Other industries aren’t permitted to operate this way. We’ve grown accustomed to digital marketing that grades its own homework, serves ads based on identity information harvested from advertisers, and spends budgets based it’s own yield optimization.
You know the system is broken when 37% of data leaders think their organizations are prepared for a world without 3rd-party cookies, but 76% of them do not think their removal will have a negative impact on their revenues.
At Bonsai, we’ve routinely come in and improved business outcomes from digital marketing and media by avoiding 3rd party data collection like the plague. Clients who reduce third party data dependence experience less waste and better business results. You could say our business model is to come in and help our clients stop doing things. The fact that it works so well is amusing.
Why aren’t more businesses doing this? One concern repeatedly resurfaces: uncertainty about how to purchase and allocate digital media without third-party cookies. Your team might have years of experience managing digital marketing, but these strategies have been powered by third-party cookies for so long that despite a plethora data capability there’s likely never been an informed assessment of how you should be using each respective platform to reach and convert new customers without that cookie.
Let’s change that. Any business can wean themselves off of 3rd party data collection and make more money in the process.
Learn what to do by following our step-by-step playbook.
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