Direct, effective, and readily available? The more we talk about first-party data the more it sounds like the Beyonce of data sources (did someone say #flawless?). In our last post we explored the whats and whys of first-party data. The takeaway? First-party data should be a critical tool for marketing campaigns.
But first party data is only as good as the strategy marketers craft to collect and use it. As such, we’ve compiled a quick list of best tips and tricks when approaching marketing based off first-party data.
Link it Up: There are so many touchpoints and tools that collect first party data, from web analytics tools to a CRM system. The real power of first party data is unleashed when ALL the sources are linked together. You need to ensure you have a comprehensive understanding of your data landscape and how each source is being used. One of the best ways to ensure all the relevant data is in the right place is by using a customer data platform. This software allows marketers to connect the disparate sources of first-party data to enable the ideal use of this information.
“Tighten your approach to make more meaningful marketing moves.”
Define Objectives: When approaching any marketing campaign it is critical to define your objectives. However, many marketers make the mistake of allowing their goals to be too broad. Instead of aiming for “better results,” push for “a 10 percent increase in engagement” or “a 5 percent decrease in bounce rates.” For example, one of our customers has a goal of 2 million active, identifiable visitors to their site. The more detailed your objectives the better you will be able to pinpoint and leverage the right first-party data from your data stream. Don’t get caught up in all the possibilities: tighten your approach to make more meaningful marketing moves. Better yet: have these objectives in mind when you’re evaluating and buying marketing tech in the first place.
Understand the Flaws: While we obviously love us a good dose of first-party data, it can’t be the end-all, be-all of your data efforts today. There is absolutely value in leveraging second- and third-party data alongside your first-party information to enrich your first party insights as well as achieve reach and scale outside of your owned properties. Better integration between tools facilitates this data flow by unifying the channels can result in wider-reach and more meaningful marketing insights.
First-Party Data in Action
It’s no secret that data is the crucial player in the modern marketing chess match and understanding the why and how of first-party data is a crucial component of executing stellar programs.
Consider a CDP to help you create more impactful acquisition campaigns and generate increasingly efficient leads with more engagement. The combination of key customer information with some critical synchronized efforts to unify data streams is the dream team of effective marketing efforts.
The resulting data can help decision-makers create better, more impactful content that can ultimately result in more conversions and better marketing ROI. So really, why wouldn’t you want to do more with your first party data?