Leveraging the power_of_first_party_data_final

Leveraging the Power of First Party Data

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How to Get It

Focus for Today – 1st Party Audience Data!

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Powerful for You

What Makes it Superior?

Valuable for Your Customers

It’s a Strategic Advantage

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Common Goals!¡ More customers ¡ Higher profits ¡ Lower costs ¡ More effective campaigns

–  Reach –  Conversions

¡  Improved customer satisfaction & loyalty

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The Scenario!

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Vendor of high end dog beds and provider of rich content for pet owners is looking to expand market and drive profit

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3rd Party Data – A Blunt Instrument!

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Look Alike Pools are not always accurate Looking for dog owners…

(7 out of 16 are not the right match)

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2nd Party Data – Good When Available!

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You sell

Your partner sells

Shared Data Pool When you understand your partner’s customers, you can start to market to a focused, targeted audience outside your existing prospect/customer pool

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1st Party Data – Endless Possibilities!

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Accuracy Less than 5% of first party

cookies are blocked whereas the number may be higher than 40%

for 3rd party cookies Source: opentracker

Personalization 73% of consumers prefer to do business with brands that use

personal information to make their shopping experiences more relevant

Source: Digital Trends

Maximize ROI In campaigns where 22% of the impressions were made up of

customers they accounted for 60% of the purchases

Source: Allant Group

95% 73% 60%

Why 1st Party Data!

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Marketers Recognize Value of 1P Data

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Beyond Affinity!

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Knowing a consumer viewed something

doesn’t speak to the true depth and intensity of their

preferences

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Create a 360° Customer Composite

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Dynamic Segmentation!Understand the multifaceted nature of your customers to fuel rich personalization and more relevant and effective interactions.

Traditional Segmentation!Traditional segmentation is rigid and places people in simplistic groups. Simplistic grouping leads to clumsy marketing interactions.

Big spender!

Abandon cart!

Affinity!

Watch clip!

Browse behavior!

VIP!

Group 1! Group 2! Group 3!

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The Road to 1st Party Data - Planning!¡  Build a strategic technology plan ¡  Leverage a comprehensive analytics program to understand

the data –  Develop insights based on trends not anecdotes –  Design desired outcomes

¡  Demand your partners/agencies deliver more –  Basic retargeting on cookie is no longer acceptable

¡  Establish clear data governance

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Marketing Technology Stack

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+2,000 MARKETING

TECHNOLOGIES

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The Road to 1st Party - Analytics!

¡ Shift from gut to data in action ¡ Understand channel differences

–  Offline v. Online v. Mobile ¡ Discover new target criteria ¡ Develop predictive programs ¡ Develop prescriptive programs

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The Road to 1st Party - Expectations!

¡ Affinity isn’t enough ¡ Partner with strategic intent ¡ Focus on outcomes ¡ Don’t stop with Analysis

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The Road to 1st Party – Data Governance!

¡ Know privacy regulation ¡ Own your data; know where

it’s going ¡ Hold partners accountable

for ensuring your data is secure and properly used

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1st Party - Acquisition and Remarketing

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Maximize Your Existing Relationships!

¡ Build repeat visitors ¡ High quality on-site content

–  Here’s a guide to cleaning dog beds

–  Frequently asked questions about fabrics

–  Guide to dog grooming

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Exceed Customer Expectations

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What You Can Achieve with 1st Party Data!¡ More customers ¡ Higher profits ¡ Lower costs ¡ More effective campaigns

–  Reach –  Conversions

¡ Loyal customers

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Next Steps!¡ Visit tealium.com ¡ Contact me

–  Jay McCarthy –  @recoveringtekie –  [email protected]

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THANK YOU!tealium.com / @tealium / #360me