The First-Party Data Opportunity: What Marketers Need to Know

Blueshift

| October 28, 2020

Most marketers are only tapping into 47% or less of their 1st party data

Data has officially surpassed oil as the world’s most valuable resource. But, not all customer data was created equal — 42% of marketers still consider 3rd party data effective, new regulations under GDPR, and deprecations by players like Google have made the use of this data risky business.

Many have overlooked their first-party data (which is incredibly valuable and within regulation). In fact, most marketers are only tapping into 47% or less of their 1st party data, which is due in part to legacy tech that can’t keep up with the speed at which brands accumulate customer data. 61% of marketers storing data across systems believe their organization doesn’t have the technology needed to best execute campaigns using customer data.

While your vast amounts of data can seem intimidating there’s a huge opportunity to come out of the “data challenge” stronger than ever before with effective organization and use of your first-party data.

1. Expand your audience by marketing to anonymous users

The first step to building out a successful marketing strategy with first-party customer 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 creates a Single Customer View for any user, known or anonymous, through the use of multiple identity keys, including email addresses, customer IDs, cookies, device IDs, phone numbers, etc. This enables marketers to produce recommendations, or trigger personalized messages across channels for your stealthiest, non-email-sharing fans.

2. Improve engagement and conversions with precise targeting

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, Blueshift can 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, especially in light of announcements from key advertising players like Google. And, you also run the risk of breaking data privacy regulations. 38% of marketers cite that a barrier to improving their ROI with marketing technology investments is integrating with the right customer and 3rd party customer data. But, with Blueshift in your toolkit and tapped in 1st party data, you’ll reach John Doe with the best 1:1 messaging for quick conversion.

3. Create brand loyalists through meaningful personalization and recommendations powered by customer data

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 coming back for more.

Respecting customers, GDPR, and utilizing the wealth 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 Blueshift’s SmartHub CDP, and how to cash out your data goldmine? Speak to a Blueshift team member today!