First-party data isn’t new. But what is new is the growing realization among brands of how vitally important this data is becoming to their business. The results of a new EConsultancy survey of 300 senior-level marketers speak for themselves: First-party data garners the highest ROI of any data type.
- The greatest source of data to digital marketers may not be digital (yet). There’s still a gulf in understanding of how the digital and traditional worlds interact. Data from offline sources/point-of-sale can bridge that gap.
- At many companies the richest customer dataset is hidden in plain sight. Email/SMS databases include vast amounts of rich, reliable data that goes back to the beginnings of an organization’s digital marketing efforts.
- Traffic from mobile devices is growing by double digits every year. Yet, fewer than 50% of respondents were taking advantage of the data produced by mobile web/application channels. Gathering data from sources beyond the website is one way that leaders differentiate themselves; their data is more likely to reflect the real world’s diversity of devices and channels.
- For many brands, the most important customer interactions happen at call centers. They are often where new accounts are initiated and where problems surface. Smart brands invest in automation, systems and training to improve their selling and service, but only about half collect the rich data being produced.
- Even among large organizations, few brands currently have initiatives to use data from beacons and sensors. Roughly one-in-four high ROI companies is active in this area, but the number drops to less than 10% for the mainstream, figures that will inevitably rise sharply in many sectors. The potential for this type of first-party data is enormous because it captures aspects of customers’ lives in detail.