Zero-party data can help acquire customers with running afoul of privacy

New Ideas in MarketingEssential news for marketers, summarised by YouGov
January 24, 2022, 4:46 AM GMT+0

Zero-party data is the information that consumers voluntarily provide brands in exchange for some kind of incentive like offers, services or a rewards.

While preparing for the world without third-party cookies, brands must focus on zero-party data to target customers and acquire clients effectively. Brands can invite their customers to fill out surveys, post which they can use the personal information submitted to make better product recommendations.

Apart from enhancing CX, businesses can use zero-party data to inform larger business decisions like building supply-chain strategies, managing product inventories and tracking evolving trends. To effectively collect zero-party data, companies can offer discounts to specific customer communities like medical professionals or first responders.

In exchange for the offer, ask customers to enter their name, email address and the name of the employer to prove they are member of the community. Further, combine zero-party data with first-party data such as purchase information gathered on the website, to offer seamless UX across devices.

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