“Say goodbye to third-party data and hello to zero-party data. Data that customers own and willingly provide to brands.” – Forrester
In light of recent data scandals, coupled with privacy legislation sweeping the globe, consumers are more scrupulous than ever when it comes to handing over their personal data.
The modern consumer demands increased privacy, contrasted by better personalization and they are quick to voice their disapproval on the echo chamber of social media if these expectations aren’t satisfactorily realized. It can be a bit of a headache for digital marketers.
Fortunately, business analysts Forrester have declared in their 2019 B2C Marketing Predictions report that marketers won’t stay down for too long. Forrester predicts marketers will address consumer demands for privacy and personalization head-on, creating opportunities across the ecosystem by turning to zero-party data.
Zero-party data is a type of data intentionally and proactively shared directly with you by the consumer. Never inferred through income or device matching, nor is it merely observed through spending behaviors or cookie data.
It is quite simply data your customer has willingly shared with you, like purchase intentions and preferences to improve personalization and help build up a picture of who they are. Empowering marketers to build direct relationships with consumers, and in turn, better personalize their marketing efforts, services, offers, and product recommendations with no guesswork.
“The onus is on brands to make this data participation easy.” – Jessica Liu, Senior Analyst, Forrester
However, it’s not quite “ask and thou shall receive.” Digitally savvy consumers need to be entertained, engaged, and receive something in return for their personal data and preferences.
Marketers can deliver this through interactive experiences that conduct market research, accrue opt-ins, sign-ups and deliver an altogether better experience with a tangible value exchange for the consumer.
Whether a questionnaire, poll, social story, or ad unit, by leveraging these interactive experience campaign types that incorporate incentive mechanics such as unlocking content, instant wins, giveaways, or coupons to name but a few, marketers can quickly and easily collect zero-party data at speed and scale.
From the smallest ad unit to the largest screen, Marigold Grow has interactive experience campaign types, complemented by data capture mechanics to provide the value exchange needed to collect zero-party data at scale in an omni-channel world.