What is First-party Data?
Think of first-party data as information that a company gets directly from customers/consumers (with consent). This data may come from sources like your website, social media, or even through online surveys. That means marketers should be checking engagement rate, page views, LinkedIn followers, and MQLs as often as if you’re watching the stock market.
You may be asking yourself, “Why would a marketer need to track so much data?” Of course creativity sits at the core of marketing, but first-party data can help to prove how effective your strategy is. These insights give you a competitive edge, helping you become more attuned to your target market and better understand how your brand can be valuable to them. And don’t forget that your competitors are likely building their marketing strategy based on first-party data.
Applying First-party Data to Your Marketing Strategy
How can you apply first-party data to your marketing strategy? Getting started is easier than you might think. If you’ve never used data to inform your marketing, you should start by looking at data from your website, CRM software, digital ads, and social media platforms. Use these data points to see if you find any interesting trends.
This will give you a look under the hood of your marketing machine to see what’s working well and what can be improved. Use this information to answer some important questions like:
- What website content is getting the most traction?
- Which emails have the highest open rate?
- What types of leads are your ads generating?
- Which social media posts get the best engagement?
Once you have a strong understanding of how your marketing efforts are working thus far, you can start applying these insights to a marketing plan. Or, if you already have a solid marketing plan, you can improve your plan based on your findings.
Using Surveys for Marketing Research
Marketing research tools can help you dig even deeper. Using online surveys, you can ask your target audience to answer questions about their interests, purchase intent, perceptions of your brand, and more. This data can be helpful for creating buyer personas, developing content ideas, and improving your brand messaging so it resonates with your audience.
If you think marketing research is only for marketing teams with the biggest budgets, think again. There are lots of simple Research Technology solutions available to marketers to help them tap into the market and find actionable insights.
Becoming a More Agile Marketer
Not only can first-party data help you discover unexpected areas of opportunity in new markets, but it also gives you ownership over survey insights that your competitors don’t have. With so many marketers competing for consumers’ attention online, getting your message right is crucial.
Imagine how much stronger your campaigns would be if you had tangible data showing that your marketing creative covers the exact topics that are relevant to your target market. This knowledge is invaluable. And now you can see why ResTech tools and first-party data have become some of the most valuable assets in any marketing tech stack.