Data is king – that’s a fact we can all agree on. It’s officially surpassed oil as the world’s most valuable resource. But, not all data was created equal. At least, not all data is equally effective for your business. While 42% of marketers still consider 3rd party data effective, new regulations under GDPR have made the use of this data risky business. Meanwhile, there’s another type of data that’s incredibly valuable and within regulation. It’s called 1st party data and it’s right in front of us, all the time. And yet, most marketers are only tapping into 47% or less of their 1st party data.
In other words? You’re sitting on a data goldmine. Here’s how you can unlock it.
Step 1: Comprehensive Tracking
The first step to building out a successful marketing strategy with first party data is to start tracking all your customers. And we mean all the time, across every device, no matter where they’re located. With traditional or legacy marketing and data systems, this can be a tall, if not impossible order. But, more advanced platforms built for the 21st century have the capability to track users across all browsing scenarios and stitch together data with established user profiles.
Consumers are leaving behind over 2 quintillion bytes of data each day, and a good chunk of that information is unassigned — but even anonymity isn’t a problem for sophisticated technology. Blueshift can create 360 degree customer profiles for any user, known or anonymous. This is because we use multiple identity keys, including email addresses, customer IDs, cookies, device IDs, phone numbers, etc. This means that our CDAP can still produce recommendations, or trigger personalized messages across channels for your stealthiest, non-email-sharing fans.
Step 2: Conversions that Count
Once anonymous tracking is up and running, you can get to work on converting John Doe into a registered customer. Using data obtained from site browsing and engagement, our CDAP will market on the channel most optimal for conversion, with messaging that hits home. It might be as simple as pushing ads through syndication as John Doe’s best browsing hour. Or, as detailed as pushing discounts and tailored messaging that will identify John ASAP.
3rd party data doesn’t guarantee you’re reaching your perfect fit customers. And, you run the risk of breaking serious GDPR rules. Additionally, 38% of marketers site that a barrier to improving their ROI with marketing technology investments is integrating with the right customer and 3rd party data. But, with a CDAP in your toolkit and tapped in 1st party data, you’ll reach John Doe with the best 1:1 messaging for quick conversion.
Step 3: Netflix-Like Recommendations
With your newly minted users accounted for, you can now autonomously begin their full-fledged customer journey. And there’s no guesswork required. Now, you have data from the very first touch to the most recent, informing how, when, and what messaging your customer will receive – with success in mind. Blueshift automatically delivers 1:1 recommendations through our unique catalog ingestion process that’ll keep John Doe (turns out that was their real name) coming back for more.
Respecting customers, GDPR, and utilizing the goldmine of 1st data you’re sitting on, is the sure-fire way to build a base of loyal, happy customers for years to come. Want to learn more about our CDAP, and how to cash out your data goldmine? Speak to a Blueshift team member today!