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First-Party Data: Marketers Architect More Personalized Campaigns
Marketers determine how to sell and advertise products based on data.
Marketing data is often classified based on the way that it was collected.
First-Party Data is collected through direct interaction with a user, such as tracking visits to a web site, email and sales interactions, purchases, and feedback responses. First-party data is valuable because it provides marketers with information and demographics about who is using or is interested in the product or business.
Second-Party Data is data acquired from a partner. The tends to be high-quality data about customers who have an interest in products or services similar to what you offer and can provide a way for a business to expand and reach a broader audience.
Third-Party data is purchased from a data aggregator. The reliability, quality, and accuracy of third-party data is often not as good as data collected internally or from a partner.
Google is in the process of phasing out the use of third-party cookies in the browser. Firefox and Safari have already phased out cookies. This change is forcing marketers to increasingly rely on first and second party data. The upside of this is that marketing campaigns will likely be more personalized and focused on smaller numbers of known users.
Forrester and other analysts also identify a specific kind of first-party data collected directly from users that they are calling zero-party data. Zero-party data is data voluntarily provided by a customer about a brand or product. It is often collected via things like surveys, contests, and give-aways.
Jake Weatherly, CEO of SheerID, said that “because zero-party data is entirely opt-in, brands need to open their minds to the multitude of ways they can inspire consumers to provide them with high-quality data.”
