Making First Party Data Work Harder

With seas of readily available data at our fingertips, it’s important look past gathering this data, and focus on how you can actually use it to grow and retain your customer base.

At our recent Exchange meeting, our members shared and discussed all sorts of avenues they’ve been using to gather data, but also ways to target this data and build trust in your brand from your consumers. The end goal for many is to effectively make this data work harder and drive better results for your outreach time and time again.

You can see the key takeaways from the session below, as well as a scribe created on the day outlining the main points of discussion.

Key Takeaways:

  • Your email open rate is your most relevant KPI to assess your CR strategy
  • How community can give you more data than just online adverts
  • Use data to engage customers in more genuine ways that link to your brand purpose
  • Create community through a sense of belonging, e.g. engage with and feel a part of the brand
  • The need to understand how you’re acquiring customers to then understand how to use their data best.
  • Use your community to enrich data. Everyone is still using popups to capture data!
  • Allow brand advocates to run with ideas
  • Community is powerful in collecting data and retaining it
  • Interesting customer identification concept: monetising site traffic
  • Make the data consent appealing
  • Value exchange needed to yet qualify 1st party data
  • Is the cookie apocalypse really a threat?
  • Consider how to ensure we’re not “over-using” or “exhausting” our 1st party data asset
  • CRM teams are not only marketing or eCommerce, but assisting all parts of the business
  • Holistic view = analysis + insight
  • KPI including NPS – beyond just profit
  • 1st party data becomes more valuable when amplified with other data sourcing
  • Customer data is key – sharing is everything
  • Must collect NPS at each site stage
  • Ideas for gathering data at checkout
  • Membership as a loyalty tool is evolving
  • Data silos and legacy systems hamper process

First party data is specifically important for Luxury brands… knowing your customer and tailoring your efforts to their needs is detrimental to the success of any luxury brand. We’ll be discussing this further at our Future of Luxury meeting on 9th February 2022 in London. Find out more and register your interest below…

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