What Is First Party Data?
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It’s Data You Own
It Reduces Advertising Costs
It Increases Your Marketing ROI
It Gives You Profitable Insights Into Your Ideal Customers
It Increases Your Company’s Overall Value
Call Us Right Now To Learn How You Can Start Profiting Today. We Will Help You Acquire First Party Data Fast, To Increase Your Advertising and Marketing ROI!
We Transform Other People’s 3rd Party Data Into Your 1st Party Data
That’s right, First Party Data (FPD) is arguably the most valuable asset any business could ever have. Just look at Google and Facebook and you will quickly realize that whoever owns the most high quality data will be given enormous valuations, and now you can grow your own 1st party databank too!
FPD is the single most important tool to reduce your overall marketing costs as well as increase your marketing return on investment and overall company value. By maximizing the power of First Party Data to your advantage, you will forever control the destiny of your business and the pace at which you can grow your profits. The key is in turning High Quality Third Party Data into your own First Party Data, and our Consultants can show you exactly how to do that.
More and more business owners are hearing all about data, data, data everywhere they turn, but what is the difference between First-Party Data, Second Party Data and Third Party…and why does it matter?
The most important point to understand is that First Party Data is YOUR data, meaning you OWN it! This can include data you obtain from online behaviors, specific actions taken by people online, interests shown on your own website, and that which you purchase from First Party Data and Lead Generation Companies.
By the way, if the data in question is not in your CRM, then it’s probably not true first party data, and if you own data that is not in your CRM you are degrading your most important asset.
By collecting information (aka data) from your own audience and customers, it is perhaps the most valuable data you could ever find because it has “intelligence” behind it. You can discover information about your “industry” or “niche”, such as the primary age group, gender, geographic location, frequency of purchases, most likely up-sells, cross-sells and a whole host of other priceless information.
The primary reason FPD is the most valuable information you could ever own is because it is available to use with no additional costs which is what makes it cheaper than 3rd Party Data, and the reason why your advertising and marketing ROIs automatically increase as you increase your share of first party data.
Due to ever-increasing privacy concerns and the onslaught of laws being enacted that relate to retargeting pixels, cookies, tracking online behavior and the like, first party data is also by far the safest type of data to utilize. By owning and managing your own data and the market intelligence that goes with it, you will never have to worry about future privacy laws surrounding third party data.
Make no mistake about it, First Party Data is the prize. The reality is that any company which is failing to collect, manage and utilize first party data from their advertising and marketing campaigns is leaving hard earned cash on the table. It’s time to stop throwing this asset (meaning money) away.
It does not take a genius to figure out that the many of the largest companies in the world are largely in the behemoth category primarily because they own more first party data than other companies in the market.
Here are the 4 Simple Steps you need to know in order to profit from First Party Data:
- Optimize (utilize testing to refine it and further increase engagement)
There are many companies that sell third party data; however, all third party data is not created equal. When purchasing third-party data, there are many factors you should be wary of, including but not limited to whether the company uses customer modeling vs. registration-based data.
What is not often talked about is Second Party Data, right? You may have seen all kinds of information relating to first and third party information, but what about second?
Second Party Data is basically someone else’s first-party data that you are getting from another source such as a publisher. Data driven marketing campaigns are almost certain to become all the rage in the marketing industry over the next few years, and Laser Guided Marketing can help you obtain the highest quality data at the lowest possible price due to our relationships with some of the largest lead brokers, RTB agency platforms, and multi-channel marketing platforms on the planet.
One of the types of data we offer to help you cnvert 3rd Party Data into your own 1st Party Data is through the use of “In The Market” Pre-Sales Leads” which is very different than what traditional lead generation companies offer. Learn More Here About “In The Market” Pre-Sales Leads.