1st & zero-party data in marketing & CX

Show Notes

• 02:40
  Zero vs. first party data

  First-party data is information about a customer's interactions with a brand, like their purchases or website visits. Zero-party data is more detailed and reflects the customer's preferences and choices, willingly provided by them through purposeful engagement with the brand.
• 05:00
  Collecting zero party data

  Brands can use short surveys, polls, and games to engage customers and learn about their preferences. Product reviews also offer an opportunity for customers to provide detailed feedback about their purchases, enriching the brand's understanding of their satisfaction levels.
• 07:38
  Challenges of leveraging zero party data

  While zero-party data collection is simple, leveraging it effectively is a challenge. Combining data from different sources and linking it to specific individuals is complex. Plus, extracting insights for real-time personalization requires significant computing power and intelligence.
• 10:43
  Using zero party data to personalize customer experiences

  Limited access to transactional data can hinder business growth as valuable insights from customers remain untapped. To overcome this challenge, data democratization is key and CDPs must evolve to enable real-time personalization and individual-level interaction with customers.
• 12:36
  Use cases of zero party data

  By collecting feedback through surveys and polls, companies can understand customer preferences and inform future product iterations. Zero-party data can be used to gamify the engagement process and provide personalized rewards to customers.
• 14:45
  Prioritizing consumer data privacy

  Marketers should prioritize data privacy to maintain consumer trust and loyalty. Consumers increasingly value data privacy and may switch from brands that fail to demonstrate responsible data practices to brands with better data protection practices.