Marketers Who Use First-Party Data Are Smashing It, Other Marketers Not So Much

Marketers Who Use First-Party Data Are Smashing It, Other Marketers Not So Much
SHARE
THIS



Marketers have long relied on third-party data for their data-driven marketing efforts. But the most successful data-driven marketers are using first-party data at a significantly higher rate than other marketers, according to a new report from Econsultancy and cross-channel marketing tech company Signal.

“Marketers are under pressure to provide more relevant customer experiences powered by insights from their users,” said Mike Sands, CEO, Signal. “This report highlights a sea change in the industry’s data landscape, as marketers increasingly turn to first-party data – data derived from their own customers – to fuel better personalisation, more precise targeting and improved marketing ROI.”

The survey of North American marketers found that among those who report the strongest ROI from their data-related investments, 81 per cent regularly use first-party data, compared to 71 per cent of their peers.

First-party data provides the richest, highest quality insights into consumer behaviour. It’s data that is collected and stored directly by website publishers about their customers. Marketers across the board are becoming more reliant on this valuable data source, with 82 per cent saying they plan to use more first-party data in their campaigns, and none reporting they will decrease their use of first-party data. In contrast, one in four marketers say they plan to decrease their use of third-party data, data collected by someone else who does not have a direct relationship with the consumer.

The study also sheds light on second-party data, e.g. data shared among trusted partners, as an effective but underutilized data source. Some 77 per cent of the highest-performing marketers regularly use second-party data, versus only 48 per cent of their counterparts. And 60 per cent of marketers plan to increase their use of second-party data, suggesting marketers are becoming more aware of the value in sharing their engagement data.

First-party data is marketers’ top choice for success across key metrics: 74 per cent said it gives the greatest insight into customers, 64 per cent said it offers the highest increase to customer lifetime value, and 62 per cent said it provides the highest lift among data sources. Less than 10 per cent of marketers surveyed reported the same benefits from third-party data.

Not only do companies with the most profitable data-driven initiatives prefer first-party data, they also report stronger capabilities in important data-related practices. For example, 66 per cent excel at campaign targeting and analysis, 60 per cent have strong personalisation capabilities, and 59 per cent are more successful at attribution and audience segmentation.

The report found striking differences in how high-performing marketers manage their data-driven efforts versus their peers. They have adapted to the explosion of new devices and channels by collecting data from beyond the web: 60 per cent collect data from mobile applications, versus 41 per cent of their peers; 61 per cent collect data from email/SMS, versus 47 per cent; and 23 per cent collect data from beacons, versus 8 per cent.

“Stitching together first-party data across devices and channels is the key to building insightful customer identities and supercharging marketing programs,” Sands said. “Signal’s Fuse platform helps make this a reality by powering a single view of the customer across online and offline channels that brands can use for smarter marketing.”

Please login with linkedin to comment

Account planning Odysseus Publishing Telework The Readership Works

Latest News

Verizon Media Academy Ends For 2021 With Youth Charity Pitch-Off
  • Advertising
  • Media

Verizon Media Academy Ends For 2021 With Youth Charity Pitch-Off

Verizon Media’s talent program has come to an end for the third year, closing with a hybrid pitch-off event for Musicians Making A Difference (MMAD). The Verizon Media Academy class of 2021, made up of 44 emerging leaders from across Australia and New Zealand media, advertising and marketing industry, were given just one hour to […]

Industry’s Gamers Unite For UnLtd’s Virtual Rocket League Comp
  • Advertising
  • Marketing
  • Media

Industry’s Gamers Unite For UnLtd’s Virtual Rocket League Comp

Social purpose organisation UnLtd’s Big Games competition has raised a combined $85,000 for children and young people at risk. Running over five weeks, the competition involved 32 teams from across the advertising, marketing and media industries battling it out virtually for a chance to qualify for the Rocket League final. The tournament culminated in a […]

Sam Worthington And Phoebe Tonkin To Star In New Stan Original Film ‘Transfusion’
  • Media

Sam Worthington And Phoebe Tonkin To Star In New Stan Original Film ‘Transfusion’

Stan has announced that the Stan Original Film Transfusion commenced filming in Sydney earlier this week and will premiere on Stan in 2022. Transfusion is a taut, muscular thriller starring Sam Worthington (Avatar) as Ryan Logan, a former Special Forces operative, who is battling to cope with life after the loss of his wife and is thrust […]

COVID-19 Saw Stock Imagery Return To Harmful Gender Stereotypes
  • Advertising
  • Marketing

COVID-19 Saw Stock Imagery Return To Harmful Gender Stereotypes

According to a decade of data collected by iStock, Australian brands turned to imagery depicting outdated gender stereotypes during the pandemic. Tracking the keyword ‘women’, iStock by Getty Images found that in 2020, ANZ brands and businesses reverted to gender stereotypes. Images of mothers home-schooling were used at almost twice the rate of images of […]

by B&T Magazine

B&T Magazine
Maddison Connaughton Ends Time As Editor Of The Saturday Paper
  • Media

Maddison Connaughton Ends Time As Editor Of The Saturday Paper

Schwartz Media is congratulating Maddison Connaughton on her three years as editor of The Saturday Paper. Connaughton has decided to finish up her editorship this month. “It’s been an honour to edit the paper,” Connaughton said. “The Saturday Paper is one of the brightest voices in Australian media and I have been happy to see […]

Teenage boy wearing headphones works at desk in his bedroom
  • Media

New Research Names Olivia Rodrigo And BTS The Most Popular Study Music

Research from EdBbirdie using Spotify data has identified the most popular songs to study to. After analysing thousands of studying and homework playlists on Spotify, American singer Olivia Rodrigo’s ‘drivers license’ came out as top song to study to. It featured on 48 study playlists, while other top songs included ‘Ophelia’ by The Lumineers, ‘Falling’ […]

Happy woman drinking tea and waving to someone while having video call over desktop PC in the evening at home.
  • Marketing
  • Opinion

Building A Successful Remote Marketing Team

Dayna Stewart is the Business Director – Digital Marketing, Media & Creative Services at The Nudge Group. Here, she discusses the challenges that come with building a successful marketing team when working remotely. Before COVID-19 changed the way businesses work, most marketing teams spent their days together in a meeting room collaborating on the next […]

Opinion

by B&T Magazine

B&T Magazine
Australia’s The Kid LAROI Joins Billie Eilish, Dua Lipa, Olivia Rodrigo And More In iHeartRadio Festival Line-Up
  • Media

Australia’s The Kid LAROI Joins Billie Eilish, Dua Lipa, Olivia Rodrigo And More In iHeartRadio Festival Line-Up

The line-up for the 2021 iHeartRadio Music Festival has been announced as the legendary event returns live in Las Vegas in September. This year, the epic two-day lineup for the iHeartRadio Music Festival main stage will feature performances by Billie Eilish, Cheap Trick, Coldplay, Dua Lipa, Florida Georgia Line, Journey, Khalid, Lil Baby, Maroon 5, Nelly, […]

Shop! ANZ Calls On Industry To Participate In ANZ Shopper And Retail Marketing Industry Survey
  • Marketing

Shop! ANZ Calls On Industry To Participate In ANZ Shopper And Retail Marketing Industry Survey

Shop! ANZ is calling on shopper and retail marketing professionals from all retail related disciplines to participate in the first ANZ Shopper and Retail Marketing Industry Survey in four years. This important research provides a guide of where the retail marketing industry in Australia and New Zealand has come from and what is anticipated to […]