Understanding First-Party Data with humanView
Understanding the needs, wants and behaviors of your audience is necessary if you want your brand to connect with and matter to consumers. As a digital marketing agency that knows how to harness the power of audience motivations, (human)x relies on collecting, analyzing, and applying consumer data to design high-performing advertising campaigns for our clients.
Quality market research and data provides valuable insights into audience behavior and motivation, as well as the competitive digital landscape, and ensures that our clients reach the right audience with the right message at the right time.
Quality data consists of facts and statistics collected for reference or analysis, and it comes in three primary forms: first-party, second-party and third-party. As a business, you collect customer data from all three of these sources to generate marketing insights for your brand. What you may not know, however, is how each type of data can best be leveraged to help you make strategic marketing decisions in the future. Let’s examine the three primary types of data and the benefits of each one:
So now that you’ve collected this large amount of market research and data, what can you do with it? How can you use it to your advantage? Many of our clients reach out to us for support because, while they have the resources to collect enormous amounts of consumer data, they have no idea how to use it to push their marketing efforts forward. The (human)x team contemplated this problem and produced our data enrichment solution, humanView.
What is humanView?
HumanView is (human)x-designed data enrichment product that utilizes data to create predictive modeling and inform business decisions. In short, we designed humanView to give brands the ability to use their first-party data. Many of our clients know how to collect first-party data—some have thousands, even millions, of data records—but the information is not cohesive or consistent enough to be effectively utilized. This leaves our clients stuck with a mountain of data and without any real path toward developing personas, identifying patterns, or predicting future buying behavior. HumanView is (human)x’s solution to helping our clients feel more confident in making their first-party data work for them.
HumanView takes our clients’ existing first-party data and augments up to 1,000 additional data points, including geographic location, life events, family status, number of children, occupation, philanthropic endeavors, and investment interests. Enriching existing data can lead to better business decisions and better human relationships without the need to rely on third-party data purchases. This level of data enrichment also allows us to then personalize our clients’ data by layering on audience behaviors. Including relevant information like a consumer’s interest in music, sports, video games, online searches and overall buying habits can help our clients better determine and predict consumer purchasing behaviors.
Lastly, humanView uses enriched and personalized data to create probability models that show the statistical relevancy and likelihood of consumers behaving in certain ways. The more relevant data you can analyze about your consumers, the more you can understand and predict the products and services that are relevant to their needs. And, because of current privacy shifts toward first-party data, humanView is even more pertinent now. Second and third-party data does still have a place for casting a wider net, but humanView allows you to create accurate probability models rooted in your own data. This new data platform could be a timely answer for clients looking to improve their marketing efforts while staying up to date on current and future privacy laws.
At the end of the day, (human)x is here to help our clients reach their marketing goals in ways that make sense for them. We know that current economic difficulties are leading many businesses to reexamine their marketing practices and find ways to trim the budget while building brand awareness and sales. If humanView is a good fit for your brand, or if you simply need support with audience segmentation, persona development or market assessment, the (human)x team is here to assist.
First-Party Data
This is data you collected directly from customers, social media followers, email subscribers or website visitors. You gather first-party data yourself by asking customers to share demographic information or to provide feedback through surveys or product reviews, and they choose to participate. This data, combined with purchase histories, website, and app behaviors, chatbot transcripts and additional CRM (Customer Relationship Management) data, can be used to develop customer personas, generate audience insights, and inform lead nurturing and retargeting. First-party data is also extremely useful when making future advertising decisions and enriching the overall sales process.
Second-Party Data
Second-party data is collected by a secondary source—usually a trusted data collection partner—and then shared with you. The partnership is usually mutually beneficial: they send you the market research they collected themselves, and you pay them for their service. Just like first-party data, this data set is also used to strategically develop new advertising and strengthen sales. One additional benefit of second-party data is the potential discovery of latest information or trends you had previously overlooked. In this way, you could uncover new trends or consumer interests and then address those directly with your next ad campaign.
Third-Party Data
This type of data is collected by businesses or researchers who have no link to your business or audience. They simply gather substantial amounts of data from various sources and then sell this data to interested companies. Because third-party data aggregated from a wider consumer base, it typically offers a wider scope than first- or second-party data and can be used to supplement and expand upon the first two data sets. You may find third-party data useful when searching for innovative marketing insights, such as developing new audience personas or noticing new patterns in consumer behavior.
So now that you’ve collected this large amount of market research and data, what can you do with it? How can you use it to your advantage? Many of our clients reach out to us for support because, while they have the resources to collect enormous amounts of consumer data, they have no idea how to use it to push their marketing efforts forward. The (human)x team contemplated this problem and produced our data enrichment solution, humanView.
What is humanView?
HumanView is (human)x-designed data enrichment product that utilizes data to create predictive modeling and inform business decisions. In short, we designed humanView to give brands the ability to use their first-party data. Many of our clients know how to collect first-party data—some have thousands, even millions, of data records—but the information is not cohesive or consistent enough to be effectively utilized. This leaves our clients stuck with a mountain of data and without any real path toward developing personas, identifying patterns, or predicting future buying behavior. HumanView is (human)x’s solution to helping our clients feel more confident in making their first-party data work for them.
HumanView takes our clients’ existing first-party data and augments up to 1,000 additional data points, including geographic location, life events, family status, number of children, occupation, philanthropic endeavors, and investment interests. Enriching existing data can lead to better business decisions and better human relationships without the need to rely on third-party data purchases. This level of data enrichment also allows us to then personalize our clients’ data by layering on audience behaviors. Including relevant information like a consumer’s interest in music, sports, video games, online searches and overall buying habits can help our clients better determine and predict consumer purchasing behaviors.
Lastly, humanView uses enriched and personalized data to create probability models that show the statistical relevancy and likelihood of consumers behaving in certain ways. The more relevant data you can analyze about your consumers, the more you can understand and predict the products and services that are relevant to their needs. And, because of current privacy shifts toward first-party data, humanView is even more pertinent now. Second and third-party data does still have a place for casting a wider net, but humanView allows you to create accurate probability models rooted in your own data. This new data platform could be a timely answer for clients looking to improve their marketing efforts while staying up to date on current and future privacy laws.
At the end of the day, (human)x is here to help our clients reach their marketing goals in ways that make sense for them. We know that current economic difficulties are leading many businesses to reexamine their marketing practices and find ways to trim the budget while building brand awareness and sales. If humanView is a good fit for your brand, or if you simply need support with audience segmentation, persona development or market assessment, the (human)x team is here to assist.
