In compliance with data regulations: As stated previously, the digital space has seen increased measures in data protection and first-party data comes with minimal risks as you can locate the source of the data and where it comes from - this means that the collection process is in compliance with .
Highest quality data: This kind of data comes directly from your audience and customers ensuring its accuracy. Third-party data is information collected from a variety of platforms and this makes the data less meaningful.
Relevant: As this data comes directly from your audience and customers you gain valuable and relevant insight into their buying behaviour which helps you create personalized campaigns that guide leads through the buying process effectively.
Cost-effective: As stated previously, this kind of data collection saves you money because you are collecting the information as opposed to purchasing it from a third-party.
Now that we understand the benefits that come with implementing a first-party data strategy, let’s take a look at how you can develop one for your business and in turn, acquire high-quality leads and better your bottom line.
Developing a first-party data strategy for business growth
Creating and launching a first-party d saudi arabia email list ata collection strategy is not as daunting as you may believe. Plus, you can be sure that you will yield a return on investment once the strategy has been implemented.
Below, we outline the steps you can take to ensure a successful first-party data strategy for your business:
Customer Relationship Management Platforms and Inventory
When you begin putting together your first-party data collection strategy it is important that you do an inventory of potential data sources across platforms. You can also leverage customer relationship management platforms to organize all your data sources. By combining your customer touch points in a single place, you will have a holistic view of your data and a greater understanding of your audience.
Identify Valuable Data
While you are putting together an inventory of potential data touchpoints, you will find that you can source more data within a CRM than you thought possible. Before you add these touch points to your strategy, consider which are actually relevant to your business. Identify what data you need based on the information it gives you about your target audience and use these touch points for data collection if they provide valuable insight into your audience's needs. In order to understand their value, put together a customer journey map. This will help you determine what data requires more focus and what should be woven into your strategy.
Data Collection Processes