Both first-party and third-party data have a role in most successful marketing campaigns. From understanding data to following best practices, here are four tips to help digital marketers maximize their data management and usage.
1. Categorize Your Data
Before you purchase or use data, make sure you know what is in your database.
- First-Party Data: Comes directly from the consumer.
- Third-Party Data: Collected without direct consumer interaction.
2. Confirm Your Third-Party Data Isn’t Masquerading as First-Party Data
Especially when external vendors are involved, it can be tough to categorize first- versus third-party data.
- First-Party Data Requires Single-Action Opt-Ins: These opt-ins mean the consumer has knowingly requested to receive information from your brand (and only your brand).
- First-Party Data Requires Transparency: Before you classify data as first-party, make sure you know exactly how it was generated, including the full user flow.
3. Don’t Be Afraid of Third-Party Data
Although first-party data is growing twice as fast, nearly one-third of marketers reported an increase in third-party usage this year. Smart marketers use a mix of data sources, so don’t feel like you’re alone if you scale third-party data generation.
4. Evolve Your Data Consumption Practices
Resilience and scalability are built into smart data generation practices, but following additional third-party data best practices will help set you up for success.
- Keep Focused on Marketing Objectives: Always keep an eye on the ball. What data do you need to achieve your objectives?
- Paint Better Pictures: Use identity resolution to combine data fragments into files representing individuals within your target audience.
Are You Ready to Enhance Your Data Generation Strategies?
From lead generation to email marketing, contacting Digital Media Solutions should be your first step.
For a thorough look at what first and third-party data can do for you, how they function effectively for marketers and recent regulations about their usage, read First-Party vs. Third-Party Data: Consumer Engagement for the Win.