AI-Enhanced Data Collection: a First Party Strategy

Data collection and first party strategy

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Data is the fuel of marketing nowadays. We all know it. However, there is something to care about – the importance of first-party strategy. After GDPR, some may believe that using data for marketing is now impossible, and that’s not true – and we are going to explain why artificial intelligence can help with it.

Why data enrichment and artificial intelligence are so significant for marketing strategies

The power of artificial intelligence data enrichment is being recognized to increase profit and conversions. Data enrichment provides more meaningful relationships with customers and increases the likelihood of the brands that use it.

The more data you have about your prospects, the more personalization will be accurate and easy to achieve, thanks to artificial intelligence’s automation and capacity to discover patterns. 

If you want to understand your audience better, you need to have who they are and build a strategy to attract your ideal buyer persona. The more you can be accurate in this phase, the more you may have new clients.

That will also lead to a more meaningful and thoughtful customer experience because if you know who your customers are, you also know what they want – spoiler alert, we will discuss this in a minute.

What is data enrichment methodology?

AI data analysis allows advanced and privacy-compliant data enrichment methodology. 

If you want to go deeper about how data enrichment is valuable and what is it, we invite you to read the following articles too:

Data Enrichment: The Guide to Maximize Customer Experience

3 Ways to Take Advantage of AI Data Enrichment for Marketing

The Role of AI Data Enrichment Within the Retail Industry

As you can see, it can be used in many different industries, but it is most commonly used in marketing and advertising. Marketing and advertising companies use AI enrichment to generate client content ideas.

AI-based data enrichment tools allow businesses to connect their knowledge base with additional sources of information to get a more accurate representation of what the public already knows about their products, services, events, and more. The new data availability makes the content more relevant and engaging. 

Enrichment typically includes third-party sources such as social media or public databases. A few months ago, third-party data and cookie-based data collection were the standard way to get info and insights.

However, something has broken the routine: a new data management law.

Let’s explore the details.

Cookie-based data collection is a practice that has been used for years. It involves tracking user behavior by saving cookies on their device. Cookies are small pieces of information stored on the user’s device, and they contain information about the user’s browsing activities. However, this approach is now outdated and deprecated when tracking cookies. Other kinds are still used and available.

Users can disable tracking cookies in their browser settings or use browser extensions to block them. Moreover, third-party advertising companies have started fingerprinting to track users without using cookies or other identifiers like IP addresses or mobile IDs.

Is it a tragedy for brands? When the news first came out, but not now – because we can use first-party data and data enrichment to make any strategy work like a charm.

First and third-party data: what’s best and why for marketing.

Marketers can use data from different sources to make better marketing decisions. They can gather insights about their customers and use this information to tailor their marketing campaigns accordingly.

Cookieless marketing is one of the techniques that marketers are using to gather insight into their customers. This technique involves collecting data from social media, cookies, and other sources like weblogs or customer databases.

“First-party data” is a term used in marketing to refer to a company’s information about its customers. It can include customer names, addresses, phone numbers, financial transaction records, web site activity that are directly collected. It is the data that marketers collect themselves through surveys, customer feedback forms, transactions, or by using a CRM system.

As said, third-party data was collected without an individual’s permission. Customers’ behavior was gathered online, analyzing browsing habits or purchase history. Why? That data collection aims to target consumers with the best offers–a tactic that seems harmless at first glance. But now everything is changing.

Why brands need first-party data and what data enrichment can do for them

The new laws deprecate Third-Party Data, requiring companies to erase or anonymize any data on people that have not explicitly granted consent.

Data is an essential asset for many organizations. The problem today is that much of the data is not anonymized, leading to privacy breaches, which are a crucial issue in the digital world. You know what I mean if you remember the Facebook and Cambridge Analytica data breach scandals. Millions of people’s personal information are being used for political purposes without their consent. This is problematic because this data should not be shared or sold to other companies without permission.

First-party data is crucial because you have significant control over it. If you collect data correctly, you can use it in your strategy.

Here is when AI data enrichment comes to help make this information valuable. Artificial Intelligence data analysis and collection in Ghostwriter AI means access to new and anonymous data. We take care of human rights, and privacy is one of the most important things to protect

We help companies build a more significant relationship with the customers, with a data enrichment strategy for data and privacy safety.

Conclusions

Data enrichers are tools that help you turn your first-party data into something more valuable and usable by adding synthetic contextual information that potentially matches your customers, location, or purchase interests. Conclusions

Data is a complex and delicate issue at the moment.

However, data enrichment and first-party data, significantly enhanced with artificial intelligence, are some of the best resources to know more about your customers and make their experience as fulfilling as possible.

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