Trendspotting: The Value of First-Party Data

Data, data, and more data. The amount of data available to brands can really be overwhelming. Thanks to technology and powerful real-time analytics, there is a plethora of customer information out there that can be sliced and diced in many different ways.  From capturing first-party data directly to enhancing databases with third party files to achieve scale, there are so many sources that provide valuable insight into the customer journey and help brands tailor their messaging. And while they are all valuable, there is no question that first-party data is the most important and provides the most benefits to brands.

As the name suggests, first-party data is exclusively yours and that in itself is a huge value. It is better quality data because it is actual, real intel coming direct from your customers. There are no suggestions or assumptions being derived from an audience sample. This is the real deal as communicated by their actions and interests across your various platforms. And, the best part? It’s free! This data is shared with you at no cost so capture it every way you can and be strategic about how you use it. And, since there is no question about the authenticity or source of first-party data, that also alleviates any security or usage concerns in this post GDPR world.

At IgnitionOne, first-party data is a key ingredient of our Customer Intelligence Platform that accumulates real-time data on customers in order to target them with relevant offers. For example, Mazda Motor Europe wanted to boost online test drive bookings on their website with personalized offers. By leveraging Website Personalization from IgnitionOne, Mazda now targets their most engaged customers with relevant offers at key moments of their purchase journey. Combining score-based triggers with factors such as time spent on page and engagement with vehicle configurators, Mazda is able to deliver personalized interactions with variable messaging for their various markets.

RESULTS:

+ 200% More Appointments in Test Drives

+ 133% More Requests for Information

First-party data provides a strategic and effective way to engage with your best customers and foster a long-term relationship that will pay off now and in the future. It allows you to communicate in a thoughtful way that will resonate and make them feel valued.