With consumers spending significantly more time on various digital media due to social distancing, working from home etc., it is imperative for brands to strike the right balance - engage with the consumers in a meaningful, personalized manner while maintaining the right tone. While the role first-party data plays might differ across businesses, there is no time like the present for companies to rethink and be more explicit about what data they collect and why.

Brands that used their first-party data in four specific cases — lifecycle marketing, personalization engine, cross-channel lead management, and audience identification — achieved higher impact than those that don’t.

Key Highlights

• In today’s world where consumer behaviour is evolving rapidly, brands that are able to build their first-party data capabilities can speed up their journey in the digital marketing curve.
• First-party data is one of the most powerful assets a marketer can have and with that comes the great responsibility of keeping with the privacy laws and regulations.
• Breaking down silos, adopting new technology, and keeping up with the latest regulations is imperative to unlock the potential of first-party data