First-party data Data comes from customer purchases, customer success and support programs, and marketing programs. Examples of source data include demographics, purchase history, website activity, email engagement, sales interactions, support calls, customer feedback programs, interests, and behaviors.
First-party data
is information that companies can collect from their own sources. In other words, all customer information from both online and offline sources, such as the website, application, CRM, social media or company surveys, is first-party data.Lotame Data Exchange is your source for high-quality third-party data. It includes data from billions of users grouped into thousands of precise segments available on more than 40 advertising platforms. We can also create custom segments. In addition to purchasing Lotame brand data through LDX, you can access data from more than 40 brand data providers.
But how do you “personalize experiences”? How do you determine your customers' interests and adapt your value proposition accordingly? Leveraging 1P data. Okay, you saw it coming. Unfortunately, because many brands strive to create a single source of trust, they don't leverage their data to grow. Source data is data that your organization has collected directly from your audience with your consent.
We all know by now that customers, subscribers and users of the web must voluntarily give explicit permission to use their data because they own their personal information. Organizations can collect first-party data from different sources, such as mobile applications, websites,. First-party data collection is the method by which you get data directly from your sources, which means you own it. This data source is invaluable because you get first-hand information from your consumers, eliminating any misinterpretation and error.
It is by far the most efficient and reliable form of data collection. For example, if a software company works with a partner agency to resell its products, the software company could share its source data with the agency to use as second-party data to target and attract new customers. If you are a marketer for a cosmetics company that targets women, for example, your personal data will come mostly from women. If you've ever looked at a product online and then continued to see product ads follow you in banners and social media ads, that's an example of first-party data retargeting at work.
The examples of source data are similar to the data points from which third-party data segments are created. But how do you find those companies? One of the easiest ways to find a buyer or seller is through a third-party data marketplace, such as the Lotame Private Data Exchange (PDX), which connects both parties to allow third-party data transactions.
