“Zero-party data is extremely valuable and will improve the effectiveness of your firm’s personalization efforts.” – Fatemeh Khatibloo, Principal Analyst, Forrester
We live in contradictory times. Today’s consumer expects watertight privacy and tightened data controls. A quandary when contrasted with their demands for true personalization and bespoke product recommendations. For marketers this needn’t be a catch-22 situation. For those committed to delivering better personalized experiences this is a unique opportunity to build more meaningful, lasting relationships with consumers.
Moving Beyond Third And First-Party Day
The negative headlines following the Cambridge Analytica scandal, coupled with nascent data protection legislation sweeping the globe has helped usher in a new age of privacy. For marketers this has meant weaning themselves off their third-party data quick fix and shifting to a zero-party data strategy.
Third-party data has its purpose, but all too many marketers were over-reliant on these data sets to try and second guess the intentions of consumers.
Equally, first-party data acquisition is an important quiver in the marketers bow. However future purchasing intentions are still inferred from past buys, and this implied interest is implicit rather than explicit.
Harnessing The Zero-Party Data Economy
Marketers can collect data that is intentionally and proactively shared directly with them by the consumer. This is zero-party data. They collect this by connecting directly with consumers and gathering the data, insights, and permissions they need to power personalized marketing across all stages of the customer lifecycle. Rather than inferring, they’re asking, and consumers are willingly and intentionally sharing.
“Zero-party data is that which a customer intentionally and proactively shares with a brand. It can include purchase intentions, personal context, and how the individual wants the brand to recognize her.” – Fatemeh Khatibloo, Principal Analyst, Forrester
How To Capture Zero-Party Data At Speed And Scale
For privacy and personalization can coexist, digitally savvy consumers need to be entertained, engaged and receive something in return for their attention and preference data.
Brands can deliver this through interactive experiences that conduct research, accrue opt-ins and deliver an altogether better experience with a tangible value exchange for the consumer. Whether a questionnaire, poll, quiz or social story, by leveraging these interactive experiences that incorporate incentive mechanics, marketers can quickly and easily collect zero-party data at speed and scale.
Capturing consumer motivations, intentions, interests, and preferences at scale lets you truly personalize each customer’s experience. Empowering you to stop using guesswork by arming you with the data you need to make the right connections with your customers. And by leveraging the right mechanics, and offering a value exchange, your customers will tell you what products they desire, what they look for in a service, and what motivates them to purchase.
The Wayin Zero-Party Data Platform has 85+ interactive marketing campaign types that incorporate data capture mechanics that can be published to any digital channel. Experiences that offer a value exchange in return zero-party data.
Forrester Q&A: What Marketers Need To Know About Zero-Party Data
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