I get it now....1st & 3rd party data.

We are entering an age where knowing everything we can about a consumer in real time is becoming the best way to add value and cut through the clutter that has become advertising. Back in the day it paid to be different to get consumers attention. Now it is imperative to know your customer and audience. Know them so well you come off as familiar or as though you have spent time getting to know their needs. When truth is it is all just data points. Having the right data on a consumer can mean the difference between reaching the dad with a daughter in college and serving him a lingerie ad or actually reaching his daughter. Ut with all this talk about data what is the importance of the various kinds of data? What does it mean, and how does it play a roll and how well we know or don't know our audience?

It's almost all first party data - All data comes from somewhere and honestly most of it comes from being collected either online or straight from sites where consumers have consented to giving specific information. So from that perspective it is almost all first party data.

Where you get it is the difference between it being first or third party data to you. Also much like clicks, these days data goes through its own set of filters and validation before it is released to advertisers and agencies. Even though it is collected from the consumer, sometimes consumers can not be who they pretend to be. A good example would be my daughters who LOVE to use my personal e-mail at the counter when they buy things to get discounts etc. Why? Because they don't want to be bothered by a ton of e-mails they might not look at. So I get all 956 a day of them. Francesca's, Victoria Secret, Sephora, Hollister and the like all crowd my inbox on a daily basis and none of them are actually for me obviously. But by looking at IP address this could easily be remedied  for those particular advertisers using "third party" data. The interesting point here is that I don't visit those sites (really I don't) so they would have no first party data on me and have no idea they are sending the e-mails to the wrong person unless they went and took my e-mail and matched it to my consumer profile from a third party source. THIS is exactly where third party data is valuable to everyone. Validation is key when using data for marketing. Having the ability to triangulate your consumer data makes it infinitely more accurate and valuable. Some data companies even use a confidence index as to how certain they are it is the right person and will quote this to you.....if they don't, make sure to ask if they have something similar.

Deterministic data is key - If you work for an advertiser or agency you will hear the term deterministic data thrown around. Often in comparison to probabilistic data which is based on browser history and data trails that show a consumer has an interest in the product or subject which leads them to believe there is intent. Deterministic shows they have purchased like products or have products that have a direct relationship to the product or service being advertised therefore it is safe to safe they are in the market for it. An example would be the consumer owns a car so we know they need car insurance, or they have a home so they will likely at some point be in the market for home improvement services, or home owners insurance, and that companies like Home Depot, Lowe's and they like would be able to use this data in their marketing efforts. Using the first party data to append to third party deterministic data opens a whole new world of marketing possibilities and gives much greater ability and insight to be able to create very targeted campaigns to show you really know the consumer without getting too creepy. While this data will be hard to visualize using the usual set of tools available that only use first party data, it will enhance what they can provide and sharpen the picture.

The bottom line - Having the right data for your campaign will make all the difference when it comes to conversion, engagement and ROI. Using only first party data, while it may get you better results will still leave money on the table. Make sure your agency has reliable deterministic data as well so as to be able to connect you directly with your customers and help you target the right audience with the right custom message.

Looking for help with data? Datastream Group, Inc. has over 800 million data records providing data for of companies who use the data for everything from e-mail campaigns, telemarketing, display campaigns, programmatic, as well as for TV and radio live transfer leads. Datastream provides consumer online and offline information for use in any number of different types of marketing campaigns.
OneDB is derived from self-reported consumer data,and compiled data.
Datastream’s OneDB records are opted in, and consumers can be targeted offline by postal and telemarketing efforts, and online by interest and intent. Audiences can be targeted by intent to purchase categories, IP Address (B2B & B2C), and by device (desktop, tablet, and smart phone). Data can be licensed for append purposes, marketing purposes, and hygiene & verification uses. Datastream will also enhance and enrich a company’s existing records through their OneDB platform.
Datastream has a competitive edge licensing their data because there is a large appetite in the current market for a marriage of digital identities to households. The Consumer Master File is built from active online consumer and business audiences and can be traced back to a postal address. We specialize in that. ([email protected])

Need help? - reach out to Bryan Gissiner who has been in Digital Advertising for over 20 years in everything from retail to founding his own tier two ad network. Currently, he helps companies utilize the right mix of current advanced technologies and marketing to outperform all of the other available alternative solutions in their target markets. He is a regular contributor on LinkedIn, with a large following of other experts from a number of different areas.

Bryan Gissiner has worked on both the publisher and advertiser side helping them to find ways to save budget and increase return on those budgets, often making them 2-3x more successful.

Connect with me! - , please go to www.dhirubhai.net/in/bryangiss, @bryangiss on twitter or contact directly [email protected] and send me an invite with specific requests, to discuss how he can bring his experience to add value to your company and help it continue to grow revenue and ROI.