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A PRIMER
What it is, why it mat ters and it s vast potential.
P l u s : t h e ke y s t o m a k i n g i t w o r k .
WHAT IT IS
Consumers are barraged with thousands of marketing messages
every single day, and they want to be treated like people. Like
themselves, go figure.
And of course digital channels have grown like crazy, extending beyond
email, search, display, video, websites, and hot mobile apps like wearable
devices, smart billboards, and who knows what next.
The approach clearly works. Together these giants account for 85 percent
of digital ad spend. But what if you need to—and you probably do—reach
folks outside of these platforms? Plus measure your performance across
channels at the level of real people?
When you resolve identity accurately across touchpoints, you gain a clearer
picture that lets you target better, personalize the message, and measure
your efforts across channels and devices.
FIRST-PARTY DATA
First-party data is data you collect, either actively or passively, from
consumers that interact with your company. And it’s tremendously valuable.
Not just because you own it and it’s readily available. It’s data on real
people who have purchased from or engaged with your company
somehow. Real data on real people—you can see the implications for
your people-based marketing.
Note there are two types of first-party data. Data containing elements
like name, phone number, or street address is considered “personally
identifiable information” (PII). But you can also make use of data that
doesn’t identify a person, for instance, when someone visits your site
but doesn’t register.
An identity resolution provider can help you connect these data sets, in
a privacy-compliant way, by using automation to remove PII.
THIRD-PARTY DATA
Third-party data is data you purchase from outside sources, for
instance, a data supplier or a brand that makes its data available to
different buyers. It’s “one to many,” meaning one supplier makes data
available to many brands.
SECOND-PARTY DATA
Second-party data is getting a lot of attention these days. It’s when brands
agree to share their first-party data in ways that comply with privacy laws
and best practices.
This means delivering audience data to each of the tools you use to engage
consumers across channels and devices. Identity resolution is key to
making this happen, because it operates like a universal translator, enabling
every part of your marketing stack to “speak the same language” when they
reference the same person.
That’s why using identity resolution to connect data silos and make data
portable across the platforms and devices used to engage consumers is
so powerful. Let’s look at one example.
Moreover, you can attribute results with greater precision, helping you know
(a) the people you reached and (b) where you found them. This in turn
helps you decipher the path to purchase, better understand the consumer,
and take the right steps in becoming a customer-obsessed organization.
To learn more, download our eBook: Guiding Principles for the Ethical
Use of Data.
Remember, the people you want to convert have enormous power: they
can tune you out anytime they please. People-based marketing gives you
the power to make them want to engage. Some may even spread the word
about their great experiences.
info@acxiom.com | acxiom.com