Why First Party Data is Essential to Marketing Success

For years, companies have relied on third party data for marketing. However, changing attitudes and new privacy laws continue to influence how data is collected. While both first and third party data have their place, first party data is quickly becoming the data of choice. Keep reading to learn more about first party data and what Endeavor’s first party data means to marketers.  

What is first party data?  

First, let’s start with the basics and define first-party data. It is defined as unique information a business collects directly from its engaged and consenting audience in digital environments. Some examples of how Endeavor collects first party data are through newsletter and magazine subscriptions, website forms providing access to gated content, website behaviors or actions, purchase history, and surveys. 

This specific data allows marketers to understand their audience, learn about their behaviors, and understand their interests. This knowledge takes the guesswork out of marketing. Empowering marketers with the insights necessary to build informed and highly calculated marketing strategies. But what happens when marketing teams do not have first party data? That is where Endeavor comes in.  

Endeavor Business Media’s first party data.  

There are many reasons businesses supplement their first party data. Perhaps they need to gather more data points, or they lack enough of their own data. Whatever the reason, many businesses choose to partner with a media company that owns first party data. It allows them to leverage important data they would not usually have access to. As a leading media company with extensive first party data, our partners reach audiences in key markets.  

How our data is collected.

Our data is collected from surveys, newsletter registrations, site usage tracking, or lead generation campaigns. At Endeavor, we take data privacy seriously, so our partners can rest assured that we are current on the latest data privacy laws.  

With the right data, marketers can create personalized campaigns.

In today’s world, customers expect a personalized experience. Because of that, customized campaigns have a much higher return on investment. That is where behavioral data comes in. It is insider access to what your customers are interested in and how they interact with your content, giving marketers the keys to creating customized content. 

How our customers use data from Personif.ai for Successful Personalized Marketing Campaigns. 

Spend your time and resources the right way. 

Data storage is a complex issue that requires resources. If data is manually collected and maintained, marketers will spend valuable time navigating spreadsheets. Or if a marketing agency is paying for data storage through a third party service, they are using valuable capital. Either way, that is not how anyone wants to spend their resources. 

Marketers can make decisions with accurate information.

Since first party data comes directly from our customers, marketers can rest assured that it is accurate information. This accurate depiction of an audience allows marketers to drill down their strategies and create optimized campaigns.  

As you can see, first party data is incredibly beneficial and will continue to become more critical to marketers. Get ahead of your competitors and get started with first party data today.