For years, third-party data has been the mainstay of digital marketing, but today’s highest performing companies are increasingly looking internally, to their own first-party data.
It’s essentially a data-driven marketing revolution. Despite a predictable backlash to the overuse of terms like big data, it can’t be underestimated how firmly established the role of data already is in marketing and the benefits that can be derived.
As an introduction to first-party data, here is our Vice President of Research for Econsultancy in North America Stefan Tornquist discussing our report The Promise of First-Party Data, developed in partnership with Signal, which explores the role of brands’ owned data in the marketing ecosystem.
The majority of our survey respondents believe that first party data is how they will win the battle for customer understanding and engagement.
As you can see from the chart above, 82% of respondents agree or strongly agree that they will increase their use of first party data over the next year.
The key outcome of successfully analysing and utilising this first-party data is the ability to develop a strategy of truly people-based marketing.
People-based marketing means being able to recognise and engage your customers at every touchpoint in real-time and all the time. To facilitate this, technology has to be used to provide uniquely human experiences by identifying what can be done to add value to customer’s lives.
But how can you truly know your customers as they move across devices and channels? How can your brand use new alternatives for turning unknown users into known audiences utilising a cooperative identification model?
To help answer these questions, Econsultancy is hosting a panel at Signal’s event Always-on identity: unleashing the power of people-based marketing on October 8 2015 in London.
At this event you can hear case studies on how a top 10 global airline increased CTR by 300% and a leading online retailer improved conversion by 10%. You can also receive guidance in identifying and reacting to most recent consumer signals and customise audiences using right now customer knowledge.
Don’t miss this opportunity to learn, collaborate and network with marketing executives from other brands looking to take the first-mover advantage.
For more details or to request a place please email EJ on firstname.lastname@example.org