Most brands probably look at the era of wanton and unabashed data collection very nostalgically because of the fact that this is the sort of thing that could potentially end up helping them ignore the new reality that they are facing. Between Apple’s App Tracking Transparency feature and numerous data collection and privacy regulations being implemented in European countries, brands are having a tough time getting access to data that they had become rather dependent on.
That’s why zero party data is rising so dramatically in popularity with all things having been considered and taken into account. Zero party data is basically any information that a customer chooses to share directly with a brand, thereby giving them more of a say in what data brands can obtain and what they would prefer to keep private. With all of that having been said and now out of the way, it is important to note that 90% of firms that were surveyed as part of a study by Forrester said that zero party data was a priority for them during this year.
82% of these firms already have this zero party data on hand, but 42% of them are not sure about how they can use it effectively. The exact same proportion, or 42% to be precise, said that they have already begun using it successfully though, so this is likely a learning curve that brands will figure out over time.
97% of these firms said that personalized experiences were pivotal to implementing successful marketing campaigns, and 85% also said that zero party data was essential for personalized experiences. However, 36% of brands said that they don’t know if they can trust zero party data since they have no way of telling if customers are being truthful. It will be interesting to see how brands adjust to the new normal amid widespread data depreciation. It’s becoming increasingly difficult to rely on third parties for data collection, and brands don’t have anywhere else to turn if they don’t start using zero party data which is the only option right now.
H/T: TR / Vector by Storyset / freepik
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That’s why zero party data is rising so dramatically in popularity with all things having been considered and taken into account. Zero party data is basically any information that a customer chooses to share directly with a brand, thereby giving them more of a say in what data brands can obtain and what they would prefer to keep private. With all of that having been said and now out of the way, it is important to note that 90% of firms that were surveyed as part of a study by Forrester said that zero party data was a priority for them during this year.
82% of these firms already have this zero party data on hand, but 42% of them are not sure about how they can use it effectively. The exact same proportion, or 42% to be precise, said that they have already begun using it successfully though, so this is likely a learning curve that brands will figure out over time.
97% of these firms said that personalized experiences were pivotal to implementing successful marketing campaigns, and 85% also said that zero party data was essential for personalized experiences. However, 36% of brands said that they don’t know if they can trust zero party data since they have no way of telling if customers are being truthful. It will be interesting to see how brands adjust to the new normal amid widespread data depreciation. It’s becoming increasingly difficult to rely on third parties for data collection, and brands don’t have anywhere else to turn if they don’t start using zero party data which is the only option right now.
Read next: The Shift In Digital Panorama: Intel Report Highlights New Security Insights
