We know — and even expect — brands to understand us and offer up personalized experiences. (And at this point, isn’t it annoying when a brand obviously doesn’t “get” us?)
While we’ve seen a major shift from third-party to first-party data over the past few years, the latest trend now relies on zero-party data. And, if used correctly, it will become the most powerful source of buyer information.
Before we dive much further, let’s quickly recap the different data sources:
- Third-party data is obtained or purchased from an outside source. Think Apple or Facebook’s abilities to provide demographic or other interests based on information collected from those sites. The data is not exclusive to your company, meaning anyone can have access to the same data.