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Zero-party data is a relatively new term in the marketing lexicon. Originally coined by Forrester in 2022, zero-party data is information a customer voluntarily provides by actively sharing it. Zero-party data is often described as the “Holy Grail” or the future of marketing.
What makes it so special is that consumers provide their own data to improve their shopping experience and personal relationship with the brand. This data can range from contact information and birthdates to preferred product categories.
Zero-party data is information that is hard to infer or buy from a user. It’s seen by many in the industry as one of the most promising data collection solutions in today’s cookie-less world.
Yes third-party data has long been regarded as the king of the hill, zero-party and first-party data are quickly becoming the challengers. Brands that want to carve out that competitive advantage should start paying more attention to these new and frequently overlooked data types.Crafting a well thought out comprehensive zero-party data collection solution will help brands bridge the gap left by third-party cookies.
Third-party data is data obtained from a third-party source, such as a research firm or any other external service provider. Third-party data is often compiled from a number of different sources. More and more, the reliability of third-party data is being questioned.
Third-party data can also be less detailed, such as IP addresses (Internal Protocol addresses for computers or devices, a unique IP address assigned to each Internet or network device). Google Analytics, for example, can tell you where your website visitors are coming from by leveraging IP addresses, but they don’t tell you who they are.
One of the key benefits of zero-party data is that it’s more trustworthy than second or third-party data. Two other benefits of zero-party and first-party data are the quality of the data and the fact that both minimize privacy concerns because you know exactly where the information came from.
Discover new ways to collect zero-and first-party data from your website, turning prospects into customers and customers into loyal brand advocates. We understand the challenges that brands are facing in our new cookie-less world. Let us demonstrate the real power of unlocking your first-party data by utilizing SAVVY DATA AI's online visitor identification technology. If you are interested in driving more sales and giving your businesses a real competitive advantage, drop us a line and let’s chat.
