Data is forever transforming. Transforming how we experience something, the way we communicate, the way we order products, even the way we park. It’s something that touches almost every aspect of our lives as digital consumers. Data is always transforming because it’s always learning. Each new data point is showcasing something new. And the same can be told when it comes to data and ourselves as consumers. Each point captured by the brands or sports teams or the blogs we love, teaches the organization we’re engaging with something new about us.
But that data, often third-party data, which is any information collected by an entity that does not have a direct relationship with the user the data is being collected on, doesn’t paint the full picture of who we are as consumers. Our unique preferences, motivations, desires, buying habits and more aren’t data points that are captured and shared with the brands we’re visiting and interacting with.
More often than not, an audience, a fan of a brand or team is typically just a name, location, gender, and time zone. When we look at first-party data, which is information that’s collected directly from your audience and customers, we see exactly where its value lies.
Here are three points into how first party capture can improve and grow customer relationships when implemented into marketing strategies:
1. Increased Knowledge of the Consumer
When an organization starts implementing first-party data capture solutions into their marketing strategies, they’re able to learn much more about their customers. The customer moves away from rigid identifiers like name, gender, and location to much more robust profiles. With the right solution, an organization can learn the best way to contact that consumer - email, phone, SMS, etc. They can learn more about their favorite products, their favorite players in the sports world, what motivates them to make a purchase and more interesting points that tell a powerful consumer story.
2. Prediction of Future Wants/Behaviors
When you have an increased knowledge of your consumer, you can begin to predict their future wants and behaviors. If you’ve learned what motivates them to buy, whether it’s a seasonal sale, a specific style of merch, free shipping, etc, you’re able to predict when they will most likely want to purchase something from your digital marketing efforts.
3. Creating Personalized Experiences
Organizations that are consistently learning more about their audience-base and can make predictions on future wants and behaviors, can begin to create personalized experiences. Through enriched CRM records that create the opportunity for personalized offers and messaging you’re already creating a much more personalized experience. Instead of sending the same offer through blast emails and generic messaging, you can send marketing materials that have the power to resonate with each consumer at a higher level. That shows that as a brand/organization, you’re listening and showing up for your customers. Personalized offers means not only more high-quality experiences, but often, more conversions.
First party data can offer so much to your organization. Enriched CRM data and entries, the ability to personalize marketing at a massive scale, and the power to have insight into the most efficient strategies and messaging on an organizational level. It can have a direct impact on the way consumers and brands/organizations interact and communicate.