Brands must focus on value exchange to increase first-party data

New Ideas in MarketingEssential news for marketers, summarised by YouGov
October 28, 2021, 3:48 PM GMT+0

This piece suggests strategies that marketers can use to collect more first-party data effectively.

Businesses can collect passive first-party data by using tools like Google Analytics and other email marketing software. But, to collect first-party data effectively, marketers need to offer value to consumers in exchange for their personal information.

Before asking customers to share their data, marketers should ask themselves, “whether we’re providing value equal to or greater than the value we’re asking.” Instead of asking website visitors to fill up a form with 37 fields, marketers should collect only the data they need or act on it.

Collecting less and only the necessary data can help reduce friction in the data collection process and increase the likelihood of users’ submitting data more accurately. It can further help marketers make the user experience more accessible, better and faster.

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