Data & AI
How Interactive Experiences Can Upgrade Your Data Collection Strategy
July 29, 2022
With the sun setting on third party cookies, businesses are recognizing the need to revamp their data acquisition strategies. Customer relationships need to be built for the long-term. Enter the world of zero and first-party data collection.
Why Zero and First-Party Data?
Known as the most valued and most difficult to acquire, zero and first-party data offer a clear picture of how customers interact with your brand. The more data you collect, the better your personalization campaigns. Better personalization leads to higher engagement and higher ROI.
Consumers not only expect personalization, but will reward brands that do it well.
A 2021 McKinsey study found that companies that excel at personalization generate 40% more revenue. 78% of consumers are more likely to make repeat purchases from businesses that personalize.
But many retailers are not as good at personalization as they think they are. In our recent study, Retail Personalization Index 2022: Balancing Trust, Data Collection and Privacy, 71% of retailers believe they are excelling at personalization, while just 34% of consumers agreed.
What components are needed to get personalization right and collect the data you need? The key is to offer shoppers value and interactive experiences in exchange for their data.
The 2022 eConsultancy Digital Consumer Trends Index found that 86% of consumers will trade personal and preference data with a brand for early or exclusive access. 55% are comfortable sharing data about themselves like clothing size, age and family size for better service. The more accurate the data, the more machine learning can better predict what customers want, before they know they want it.
How Interactive Experiences Yield High Quality Data
Interactive experiences like online polls and quizzes not only demonstrate your audience’s connection to your brand, but yield vital psychographic information. A cruise line can ask travelers to rank their top three bucket list destinations to inform new routes and itineraries. A cosmetics brand can ask shoppers to vote for their favorite fall hues to produce on-trend holiday gift sets.
Interactive experiences give shoppers a genuine reason to stay engaged with your content and share their personal data. Paradoxically, capturing data via automation enables consumers to receive a more personalized experience on an individual basis. It’s personalization at scale.
By offering the right value exchange, customers will tell you what products they desire, the services they are seeking, and what motivates them to purchase.
Bringing Zero and First-Party Data Into Your Personalization Strategy
So how can businesses set up this value exchange? And how can they store, analyze, and utilize that data in a way that improves personalization?
Cue Marigold Grow, which helps marketers gather owned and actionable data through interactions with customers at scale. Once customers share their data, Marigold Grow populates Sailthru’s User Profiles. This allows marketers to analyze, segment, and target their customer base. Each journey is personalized, which makes the experience more relevant to the individual.
By pairing the power of Sailthru’s personalization capabilities with higher-quality data, marketers can create cross-channel campaigns efficiently and at scale. From email to SMS, mobile to web, your messaging is consistent and more relevant to each shopper. It’s more personal.
Are you ready to upgrade your brand’s personalization with zero and first-party data? Start future-proofing your brand with Marigold Grow by signing up for a demo today.
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