Consumers increasingly monitor how organizations collect, store, and use their personal information. As a result, companies must leverage "first-party data" to adapt to this new paradigm.
Give customers what they want.
Data has allowed companies to learn much about their customers, but they still too often focus on a single lever to increase their turnover: contacting more prospects. However, the success of organizations in an increasingly cookie-conscious digital world will depend primarily on improving customer relations. Consumers appreciate being offered products and services that match their interests or needs, when and how they want, and having the entire buying journey go smoothly. However, it doesn't always happen that way; by obtaining their contact details via third-party cookies, many brands solicit consumers without the latter having asked for anything.
However, first-party data can be used to match the customer to the best deal that benefits both businesses and customers. Therefore, organizations that claim to increase the value of relationships with their customers need to direct their marketing efforts towards campaigns that may seem more complicated to target but strengthen the connection with customers and hold their attention for longer.
Combine the right tools.
Without a unified omnichannel marketing platform, organizations incorporate all disparate business applications and merge, analyze, and manage the data from each. However, this silo of data and applications currently prevalent in the industry hampers marketing productivity and effectiveness. Indeed, this leads to many dysfunctions: redundant processes, unused applications and licenses, multiple connections, and unusable data revealing inaccurate analyses and information. In addition, on the customer side, this situation results in inconsistent and sometimes unpredictable experiences and a generally negative impression of the supplier.
Conversely, a unified marketing platform ensures a seamless customer experience. To do this, it must integrate seamlessly with other systems, such as CRM so that all customer-facing teams can jointly define the next steps with existing and new customers. When these services have a standard view and a first-party data set, they are better equipped to personalize purchase journeys. Thus, a customer will be more inclined to build loyalty if marketing focuses on a subject, product, or channel it is already interested in. Similarly, when the marketing department discovers a preferred point of contact for customer engagement,
Marketing beyond data
While the marketing industry's trend from third-party information toward first-party information is positive, it remains reactive and dependent on data. Also, it is not certain that, in a few years, customers will not be as concerned about collecting their first-party data as they are about data from third parties. If the condition of exchanging data for services is at issue, how a business collects, stores, secures, and uses that information in the future can mean the difference between attracting new leads and losing existing customers. In other words, by leveraging first-party data.
Ultimately, the value that marketing brings to customers will always come down to processing their data, while the value that customers get from businesses is priceless. Whether through responsible use of first-party data or traditional marketing strategies, it is by prioritizing the customer experience that businesses will thrive.
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