What is Zero Party Data? Future of eCommerce
As concerns about data tracking continue to grow, consumers are demanding more privacy and yearning for trust and clarity from brands. With the surge of customers’ skepticism over data tracking, platforms are taking steps to completely protect consumer privacy and wipe out third-party data. Here Zero Party Data comes into the picture. It creates powerful marketing strategies when coupled with first-party data. Know how zero-party data is shaping our digital future.
Personalized Customer Experience
Brands can remove associated guesswork by directly getting critical information about preferences and customer intent through Zero-party data. Businesses can tailor their marketing strategy and personalize the customer experience by combining those valuable insights with other data.
It’s truly a win-win for both customers and brands. The secret key to successfully marketing to today’s customers is the ability to provide the highest level of personalization, and here the value of zero-party data becomes obvious. The customer retention rate will increase with zero-party data, and businesses will create relevant customer experiences. By leveraging both zero-party and internally collected data, the brand nurtures loyalty and provides customers a truly personalized experience.
Data-driven Marketing Approach
To collect zero-party data, things required are direct access to the consumer and trustworthy relations between the brand & consumer. By combining the data collected by your brand through third-party sources and zero-party data, you have all of the information you need to reach your target audience with a perfectly handcrafted campaign. Researchers have found that marketers using data-driven campaigns are experiencing exponential growth in ROI.
Direct Access to the Customer
With tools like polls and quizzes, B2C brands can directly learn their customers’ preferences and modify future content and recommendations.
Retail brands boast higher engagement rates with targeted content on a channel even when users are in the mobile space.
Intimate Mode of Communication
Few brands use SMS to grant exclusive content and experience to target millions. SMS is quickly becoming one of the most valuable channels for acquiring zero-party data. SMS becomes the more intimate way to capture zero-party data as brands embrace a personalized marketing approach. Through SMS, brands can easily reach the consumers’ personal space and provide the relevant message quickly.