On this blog we’ve talked extensively about the merits of adopting a fully-fledged zero-party data strategy and eschewing unreliable third-party data sets. For the uninitiated you can read more about the emerging zero-party data economy and how to collect it at scale here.
But for those marketers already focused on building more meaningful and lasting connections with consumers, what do you do with the huge volume of preference insights and purchase motivations once you’ve collected them?
Paid Advertising And Ad Retargeting
Instead of spamming consumers with ads for products they have already purchased or irrelevant content, the audience segmentation you can achieve through zero-party data allows you to tailor ad messages to users in different stages of the purchase funnel.
Specific ads around your product offerings and audience segmentation ensures you are serving relevant and engaging ads. Whether paying for impressions or clicks, digital advertising isn’t cheap. When you target your ads with segmented zero-party data you don’t waste valuable impressions on people who aren’t relevant to your campaign.
This not only improves the relevancy of your retargeting campaign by placing the right ads in front of the right people, but it also lowers your costs. Instead of serving ads to everyone, you’re saving your money and showing ads to the people for whom your ads make the most sense.
144 – Bowtech geo-tagged 144 audience segments they activate with experiences across email, SMS and other traditional marketing efforts
Personalized Email Marketing
Digital consumers on average receive over 90 non-spam emails a day, so there’s lots of content fighting for limited attention. Throw in the science behind subject line length, time of day and emails rendering differently on various devices and merely getting an open can be a win itself.
It goes without saying that segmented and personalized email campaigns generate a much higher uplift compared to the results of blanket, spray-and-pray email campaigns. Brands that personalize marketing emails see, on average, 27% higher click-through rates.
Zero-party data empowers you to send your audience exactly what they want to see – because they told you so themselves. You go beyond just purchase history or behavioral data to segment your emails.
22% – of online consumers are satisfied with the level of personalization they currently receive
The Beauty Of Audience Building… It Never Stops
Your customers’ interests, preferences, motivations and desires change and evolve other time. Maybe brogues are now preferred over sneakers or a child-friendly inclusive vacation over the busy city break.
With zero-party data, audience building and profiling never stops, it just evolves. Zero-party data helps you keep your data accurate, relevant, and up-to-date, because it’s coming directly from your audience.
Through interactive experiences your customer can actively give you the data points you need to keep your profiles relevant. Constantly enriching and replacing data points with both quality
and quantity. So when things change, you’ll know.
61% – average conversion rate for Wayin interactive experiences
The Rise Of The Zero-Party Data Economy
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