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First-Party Data Collection Strategies for Businesses

First-Party Data Collection Strategies

Data is a crucial driver in marketing. Read on to learn about first-party data collection & 8 First-Party Data Collection Strategies for Brick & Mortar Businesses. It’s no secret that we have entered the age of consumer privacy. New guidelines like GDPR and CCPA, new features released by Apple, and recent announcements made by Google about cookie deprecation are all pointing to the same thing: giving consumers increased transparency and control over their personal data will be the norm moving forward. And with that control comes the ability to impede many of the tried-and-true methods marketers have been using to collect data and target consumers.

One of the more significant changes occurred with the Apple iOS 14.5 update, which gave users the opportunity to decline cross-app data sharing via an opt-out notification screen. And here we are, only weeks after the release, and new research shows that 96% of US users are opting out of data tracking. The implications are clear: with such severe limitations to third-party data-sharing, marketers’ ability to target ads will severely decline—unless they lean into first-party data.

First-party data is data collected by the business directly from consumers. Typically, the customer data refers to a consumer’s email address or phone number, but it may take many forms. Because an email is used so ubiquitously as part of online registration or checkout processes, it has come to represent a consumer’s de facto online identity.

Online consumer identity in the form of an email address is becoming increasingly valuable because it offers three important features that anonymous cookies cannot: it is consistent, persistent, and actionable across platforms. These characteristics are what makes this data an essential foundation for developing a deep understanding of customers through segmentation, modeling, and lifetime value analyses.

For more such updates, check Out recent Martech Cube blogs.

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