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Data Management

Best Practices

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Marketers and agencies are always working to better understand their customers. They are constantly asking questions like: Who are our customers? What attributes define them? Which products are they in market to buy? What might they buy next? How can we reach more of them?
By analyzing a wealth of both first-party and third-party demographic, contextual, and behavioral data about customers and campaigns, you can answer these questions. Marketers can use this data to deliver targeted, personalized messages to people at the exact moment in the purchase process that they are ready to buy.
Think of all the different channels, behaviors, interactions, and transactions that you can use to better define the profile of your ideal audience. You must find a way to collect and activate all the data that is available to you. Here are the main three types of data that every marketer can use:
  • First-Party Data: Quite simply this is your data. It’s the data that you have collected from the actions or behaviors of visitors to your website combined with data in your customer relationship management (CRM) systems, social media data, subscription data, or multi-channel data gleaned from mobile sites or apps.
  • Second-Party Data: This is essentially someone else’s first-party data that you can use to help achieve your marketing goals. For example, you can form a mutually beneficial relationship with another company whereby you each share your respective first-party data.
  • Third-Party Data: This data is consolidated from websites and social media platforms other than your own. Third-party data helps marketers reach a wider audience, and when used in conjunction with a campaign, can help marketers reach more diverse and targeted audience groups.
But collecting, analyzing, managing, and acting on this first-party and third-party data is a complex challenge. As a marketer, you need the right tool to manage your critical audience data assets. If you want to truly understand your customers, you need a data management platform (DMP) that you can use for across programs.
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