Data-Based Marketing
Death of the Cookie = Zero-Party Data (+ what that even means)
Google's phasing-out of the cookie has begun - Here's how to use first-party data to replace it.
The marketing world is evolving... Here's how to utilise zero and first-party data as a part of your new strategy.
Data has always been a crucial part of marketing strategy. Data collection allows marketers to build an accurate picture of their ideal customer; their day-to-day lives, their habits, behaviours and buying patterns. This data, if utilised correctly, can help brands and organisations to build stronger, more trusting relationships with their audience and convert static users to customers using personalised tactics.
But the phrase ‘privacy-first marketing’ is quickly becoming a hot topic. It’s changing the way we can collect and use data to communicate with our audiences. Google’s phasing-out of the third-party cookie has caused quite a stir in the marketing world, with businesses concerned about how their strategy has to shift to accommodate these changes.
Cisco’s 2021 Consumer Privacy Survey provided a deeper insight into the mind of users, with 76% of respondents saying that they don’t understand how their data is being used by companies, and 46% feeling that they aren’t effectively able to protect their information [1]. It is clear that there is an increased demand for transparency and trust-building tactics around data collection. Enter zero and first-party data.
Zero-party data is information that a user willingly and intentionally shares with a brand or organisation. More specifically, it is data around purchase behaviour and intentions.
First-party data is willingly-shared personal data collected by a brand or organisation.
While the concerns of marketers around data collection are valid, zero and first-party data collection may actually improve customer relationships, not harm them. By collecting preferential data that is shared willingly, we can build both a knowledge base of the customer and a trusting relationship where users know exactly how their data is being used.
So how do our marketing strategies need to change to keep up with this privacy-first world? At Komo’s Mumbrella360 Sponsored Session, Leah Jackson, HODM for Goodman Fielder, had some wise words to share on the topic.
“If I’m willing to impart my data to a brand or to a business, what am I getting back in return? There has to be a degree of value exchange. That might be access to information, a personalised service, it may be something that you get and nobody else does because you’ve given your information over. Personalisation is really key.”
If customers are willingly sharing their information with us, it's important that we know how to utilise it correctly to enhance the customer experience and provide a value exchange in return for imparting their data. A shift to a zero and first-party data collection strategy focused on personalisation is the next big step brand and organisations need to take.
How is a strategy like this implemented? The answer is an investment in a system that allows you to collect and measure this kind of data effectively. Enter Komo (Literally, Komo means ‘enter’ in Hawaiian!).
Not only does Komo empower brands and organisations to create branded, immersive gamified experiences, but it also allows marketers to gather, manage and monitor data with a built-in analytics platform and tech integrations. Marketers can monitor all engagement within their very own Engagement Hub, connect various CRM systems and integrate their existing analytics and tracking software to manage personalised data capture.
This data collection allows for analysing of customer behaviour and utilisation of this information to create more personalised marketing that provides a value exchange between a brand and its audience.
While change isn’t always easy, it is necessary in the fast-paced, always-on marketing world we are all living in. Zero and first-party data are the future of marketing, and we’re ready to show you this whole new world the Komo way!
References:
[2] https://blog.hubspot.com/marketing/privacy-first-world-according-to-hubspot-cmo