Zero-Party Data + Building Trust with Interaction Studio.
Updated: Nov 10, 2021
This article will help you understand what zero-party data is, how regulations are going to change the way marketers utilize audience data and how interaction studio comes to the rescue to drive contextualized and personalized marketing efforts.
Remember the key take away is build Trust.
Marketers spend a lot of time to build a trusted relationship with their virtual customers.
Forrester Research defines zero-party data as:
Zero-party data is that which a customer intentionally and proactively shares with a brand. It can include preference center data, purchase intentions, personal context, and how the individual wants the brand to recognize [them].
As privacy laws and regulations get more and more restrictive & as the third-party cookies crumble, marketers will have to put in extra efforts to win audience's trust and have these audiences open up their data so that the marketers can focus on doing their jobs - accurate, contextual, real time personalization and messaging - better.
Third-party cookie data is derived and hence might not be good quality and will result in sub-par campaign returns.
First-party cookie data is good. These are captured directly from website visitors and help remember visitor's login credentials, their clicks, cart items and locale settings amongst other data points.
With Zero-Party Data come Infinite responsibilities
Yes, pun intended.
Keep in mind - this trust building exercise is transactional. If audiences are going to provide marketers with their data then marketers need to provide equal or more value.
As a visitor / prospect / customer I am sharing with you:
I am a female, in zip-code 85013, with phone number 123456789 and email address firstname.lastname@example.org and I subscribed to the topic 'Running' and 'Hiking' and read a blog post about '2022 Marathons'.
It is now the marketer's responsibility to reciprocate back with relevant communications.
That is instead of sending a generic newsletter, I am going to send a newsletter that talks about - new arrival in running shoes, how to stretch before running and how to prepare for a marathon.
The next time you visit our site - you will not see a hero image of men golfing but instead you will see geared up hikers.
Our product recommendations will be based of intelligent co-browse and co-buy algorithms
We will send a timely SMS reminder to sign-up for the Phoenix marathon and a 15% discount on the new JourneyBlazers running shoes. (note to self - trademark this)
We will pop up a survey on the website to further understand your style and color preferences
We will relay all of the above data over to CRM and Support applications so that we communicate with you with the same offers and messaging.
Interaction Studio helps with building this trust and enabling these experiences.
Interaction Studio + Build Trust
Interaction Studio helps in 3 ways:
It allows marketers to capture, understand and recognize individual's
Attributes - date of birth, zip code, last order date, device etc.
Preference - email / SMS / direct mail
Interests - running vs hiking vs rowing vs zumba
Intent - shopping for loan vs mortgage vs 529 plans
Affinity - mens vs women's, IPA vs Pilsner
It enables marketers to enhance this data and decide on what experiences to render in the moment. See Einstein recipe article here.
It then delivers these Einstein powered 1:1 experiences in real-time.
Want to understand this further and see a personalized demo? Connect with our Interaction Studio Accredited professionals today.