If you’ve read our recent blog on The Marketing Identity Crisis: A World Without Cookies, then you know that soon marketers will need to rely even more on their first-party customer data to glean insights for targeted advertising efforts.
The first-party data challenge
Before we explain the benefits of collecting your first-party data, let’s explore why it’s vital to do so.
In addition to the rapidly dying support of third-party cookies, walled gardens—like Google, Facebook, and Amazon—continue to keep their data private for advertisers yet are leading digital advertising. Privacy laws are going into effect, giving data control to consumers, which impacts a brand’s ability to engage unknown users with behavior-ad targeting.
The final challenge is the desire for personalized communications and digital experiences. While consumers are concerned about data privacy, they also want product recommendations based on their previous search and purchase behavior. That’s where the need to gather first-party data comes into play.
First-party data benefits
Information entered into your brand’s point-of-sale system, mobile app, online surveys, or website is known as first-party data. You can then view your data in CRM (customer relationship management), DMP (data management platform), and CDP (customer data platform) systems.
As for the benefits of collecting this valuable information, first-party-data gathering ensures brands follow consent standards, meaning consumers are legally providing their information to you for use in developing personalized experiences. Collecting first-party data from multiple sources also allows brands to gain a comprehensive view of the customer for more precise targeting of their ideal audience group. You can also create lookalike audiences to attract new customers with similar interests and behaviors.
What data do you want to collect?
88% of marketers say collecting first-party data is a 2021 priority (Merkle, 2021 Customer Engagement Report)
First-party data includes subscription and CRM data, audience engagement data from your website or mobile app, and any other data you collect directly from your customers. Much of this data includes names, email addresses, mailing/billing addresses, phone numbers, and purchase history.
You can also gather information on email preferences, customer goals or focuses, and abandoned cart information. The key is to collect the data directly from consumers in polls, feedback forms, quizzes, games or contests, registration forms, events, CRM or POS systems, or social channels.
How to collect first-party data
We’ve mentioned several opportunities to gather consumer data directly within your owned brand channels. You already have your customers’ purchase data, so why not add to it by creating an online survey to share via email and on your website?
Leveraging online forms, surveys, and quizzes, you can learn real-time information about your customers’ current interests and what they’re looking for right now. Using the information gathered, you can then fuel your lifecycle marketing, ensuring your marketing messages speak to your target audience and include content relevant to consumers.
Plugging data into an identity resolution solution
As first-party data becomes more valuable to brands, so do identity resolution solutions that help expand consumer data and provide access to consumer insights and behavior.
Merkury with Salesforce Customer 360 Audiences is the gold standard for identity solutions as it provides brands with an expansive graph of addressable IDs—from cookie IDs and email IDs to physical addresses and publisher-direct-match IDs. Providing one of those IDs allows you to match it with other IDs tied together within he graph, which amplifies your ability to activate personalized marketing experiences across channels and media.
Identity resolution will continue to be a hot topic in the coming years, which is why first-party data gathering should be a priority for brands everywhere.
Work with identity resolution experts
DEG’s analytics and insight and relationship marketing teams work with national and global brands to dive deep into consumer data and glean insights that fuel personalized digital experiences. No matter what you need—data migration, consolidation, or collection, or implementation of a DMP or CDP—we work with you to determine the best solution for your business.
Ready to dig into your data? Schedule a quick call with one of our data experts.