The ongoing regulations for the protection of privacy and the shift towards a cookie-less Internet are making the use of third-party data increasingly difficult. It is therefore vital now to start investing in activities aimed at collecting and categorizing proprietary data.
This is the most valuable and reliable type of data, as it is specific to your business, and includes: unique visits and interactions, time spent on the site, demographics, purchase history and user interests.
Different ways can be used to collect first party data. One is represented through the tracking systems positioned within websites or apps and consented directly by the user; another good slice of third-party data can be collected through forms within the portal that allow you to populate your CRM and collect relevant information. Other methods are represented by interactions on social media or with customer service, and finally surveys also allow us to investigate and cluster the data of our audience.
It's important to make the most out of the potential of first party data. But in which way?
First of all, it is good to think about a real strategy for a customizable collection based on your business objectives. A deeper analysis of our business goals can point us towards a loyalty strategy rather than a lead generation activity. Based on our objectives, the data to be collected will be different and consequently also the budget to invest.
Once you understand which data to collect, the time has come to invest in people and technologies that are able to develop processes aimed at collecting it. It's helpful to find trusted partners with the right skills and data understanding that you can rely on to achieve your business goals.
At this point it is important to use this data to personalize the message and improve customer experiences. A great advantage of proprietary data when exploited correctly is precisely the possibility of improving performance and ROI. In fact, since the targets are more targeted and the information more accurate, those who use proprietary data for their marketing activities have obtained up to a 290% increase in revenue and a 150% increase in cost savings (Google, April 2021).
The last phase of any strategy is measurement. It is essential to evaluate the different methods of data collection and identify the channel or in general the tool that generates higher quality and more usable contacts or segments that allow for more effective marketing campaigns.
E-Business Consulting is a marketing agency active since 2003 to provide support and advice for all lead generation and CRM activities. Contact us for a free quote!
