Get more from your own customer data

Meta is being restricted in showing personalized ads in the Netherlands and other European countries. This decision was made by the European Data Protection Board (EDPB). The current way Meta displays personalized ads on Facebook and Instagram conflicts with European regulations.

As Meta now adjusts its policy and apps within Europe, it's uncertain how much will change. How many people are willing to pay €12.99 per month for an ad-free mobile app? Or will most just accept it and knowingly give away their data? In that case, the effectiveness of your campaigns may hardly decrease. Whatever turns out to be true, it's always a good idea to get more out of your own data: First-Party Data.

What and Why First-Party Data?

Simply put, First-Party Data is information you collect directly from your customers, with their permission. Think of data from your business website, mobile apps, e-commerce platforms, and direct customer interactions in physical stores. This data is pure gold. It is reliably mapped within your digital ecosystem, independent of third-party data.

Now that Meta's strategy forces advertisers to pay more for less targeted exposure, it's time for us marketers to tap into a different source. By investing in First-Party Data, you become less dependent on tech giants, gain more control over your business, and make your revenue streams more predictable. You open doors to personalization, increased relevance, and strengthening your relationship with your customers.

More Personalization
With ample First-Party Data, we can focus on what really matters: personalization. Personalized experiences make marketing relevant and increase conversion. You show customers you're listening, understand their needs, and are ready to deliver.

More Loyalty
Using First-Party Data to personalize customer experiences not only builds relationships but can even kick-start community marketing. We move away from one-time transactions to enable ongoing conversations with and between customers.

How to Collect First-Party Data?It might seem daunting, but collecting First-Party Data is a process you've already started, perhaps without realizing it. Your website, app, CRM system, customer service, even your physical stores and events are all treasure troves of valuable customer information. It's a matter of optimizing those channels and analyzing and utilizing the data you already have. But responsibly so.

Carefulness is Key
First-Party Data brings not only opportunities but responsibilities. You must realize that the data you acquire is, in a sense, your customers'. You need to handle it carefully in line with European privacy laws and regulations.

Transparency and Privacy
Build TrustTransparency is a keyword in this process. You need to clearly inform customers about the data you collect and why. Being open, transparent, and relevant not only builds trust but also maintains the integrity of your brand and complies with European GDPR legislation.

Always Room for Improvement

The world never stands still, and neither should our approach to First-Party Data. We must constantly listen, learn, and improve. What works today may be outdated tomorrow. By challenging the status quo, tweaking details, and evolving, you stay relevant and valuable to your customers.

Cialdini's Principles of Persuasion

CRO with Cialdini and Machine Learning
Do you have gold with First-Party Data? It depends on how you handle it. Analyze it well, and you'll know more and be better positioned to activate your business. But it's especially important to see First-Party Data as fertile ground for further conversion optimization. You can use your data to conduct AB tests based on Cialdini's 7 principles of persuasion. And if your dataset is large enough, you can predict user behavior with Machine Learning. Want to know how to make predictive models? We've written a blog about that too.

Why Choose New StoryIt's an exciting time to be a marketer. Although the challenges are big, the possibilities are endless. With First-Party Data, you have the opportunity to build meaningful relationships with your customers. They're based on trust, respect, and mutual benefit. Together with the data-driven marketing team at New Story, you'll get the most out of it. From our blended expertise - strategy, design, technology, and marketing - we always find room for improvement.

Ready for next-level marketing? New Story immerses you in the world of First-Party Data. How about a no-obligation chat? We'd love to get to know you.