Terminus Product Overview: Data Studio
Terminus is the solution you need to grab the data and make it useful. We use IP data, consent-first Unified ID information, contextual data, and email and chat insights (layered on top of the IP) to boost the data points that you’re getting in a first-party way.
First Party vs Third Party Data
First party, second party third party data. They exist all around us. Let’s examine some examples of first-party data as we build some important definitions. First party data examples include all of the information you’ve collected about your customers. 1st party vs 2nd party vs 3rd party data are distinct in the ways that they are collected. Thus, with 1st party vs 3rd party data, 1st party data is gathered directly. Third-party data is collected by a third party. Here are some first-party data examples: email addresses, physical addresses, names, phone numbers, etc. But what about third-party data examples? Examples of 3rd party data include the same types of information, but you typically have to purchase the information in a list form. If you are looking for information about 1st party vs 3rd party coverage, or third-party data providers insurance, we’re not wading into those waters during this discussion.
Third-party data sharing has led to many innovations in the marketing world, but now marketers are seeking 1st party data examples and 1st party data strategy examples as they see that there’s a clear winner in the fight between 1st party vs 3rd party data. First, second third party data all have a purpose to serve, and with myriad types of third-party data available to marketers, they will play a part in strategies for years to come.
Note that this article contains no information about 1st party vs 3rd party games, but rather 1st party vs 3rd-party cookies, and the like.
There are many types of first-party data. There are also many types of third-party data. The most useful types of data show your browsing history, your search queries, your physical location (gleaned through IP addresses), your purchase and shopping histories, and beyond.
And remember the main difference between first-party data vs third-party data: first-party data is the information you collect directly from your customers and website visitors.
First Party Data Capture
Who is the second party in a contract? Who knows. That’s a different subject altogether. Look elsewhere for who is first party and second party in agreement. We’re here to talk about the importance of 1st party data to marketers, and what the value of first-party data is. Why is first-party data important?
One of the benefits of first-party data is the ease with which it’s captured. Knowing how to collect first-party data may seem like a mystical skill, it’s actually as easy as dropping a few lines of code into your website, and then using a CRM to house information about your clients and prospects. So what is first-party data? It’s simply the pieces of info you gather that are used to deliver targeted marketing messages. Thanks to recent regulations like the EU’s GDPR, First-party data can be collected, but only when a user gives consent. First-party data capture rules means that the first-part data available is from a willing and presumably interested party.
So if first-party data is king, and I contend that it is, and if you’ve already been using a CRM (or even a spreadsheet!) to track names of your customers and prospects, you may already have all the 1st party CRM data that you need to get started. Looking at a list of the pros and cons of first-party data, there are many of the latter and few of the former; you can market with efficiency and reliability, and end users have the ability to engage further or opt out when the time is right. 1st party data matching rates are very appealing when compared to more broadcast approaches, and as for first-party data, cookieless browsers don’t cause a concern. And thanks to first-party data enrichment services, what starts as good can get even better in certain circumstances, and when working with the right vendor, like Terminus.
First Party Advertising
Using first-party data to conduct first-party advertising is the way forward. Finding the right 1st party data strategy can be a struggle, let alone knowing how to use first-party data in marketing.
One key benefit of first-party data, attribution, makes first-party data advertising an appealing prospect. Now your first-party data strategy can demonstrate direct impact on pipeline and revenue. At the Terminus Resource Hub you will find one first-party data case study after another (available in handy first party data PDF format).
Learning how to use first-party data in your daily operation is the next step. First-party marketing requires a way (generally a software-based tool) to turn first-party cookies into actionable first-party data best practices. One of those ways is an account-based marketing platform like Terminus. Using your data, we apply first-party data best practices, making it easy for you to run first-party data programmatic advertising campaigns, retargeting campaigns, and more.
Indeed, Terminus is a tool that puts great power at your fingertips. And with guidance from our experts, you will see that your CRM holds enough data to power a host of campaigns, and with the ability to target prospects who are showing signs of making a purchase. Think of first-party advertising as a way to show up for your future customers at just the right time.
First Party Marketing
Your first-party data marketing strategy will likely rely on one or more of many, many 3rd party data providers active in the marketplace. 3rd party data sources abound, but in this section I will provide you with a narrowed list of 3rd party data providers, selected for their widespread use. These first-party data companies help you synthesize your data into actionable plans. There are even companies tailored to the consumer packaged goods division. These CPG first-party data firms aim to increase sales through better targeted marketing.
When seeking a first party app Azure is a great place to start. Through Microsoft Cloud for Retail, you can use their first party software to maintain records for prospects.
Jivox Social is an AI-powered dynamic creative optimization (known as the Jivox DCO) platform that places advertisements on social networks. According to Jivox revenue numbers released in February of 2022 showed 140% growth, which indicates market interest in their first-party data strategy.
With Nielsen, third-party data blends with first-party data. Using their software grants you access to their pool of audience data. This makes them a second party company, of sorts, as they share data between trusted sources.
For BCG, first-party data drives strategies that they use to help their clients drive better business results.
Are Google Analytics cookies first or third-party data? And what about Google Analytics without cookies? Will they still work? And is Google Analytics 3rd party tracking (quick answer here: when it comes to 3rd party data Google claims no responsibility), or is Google Analytics GDPR-friendly? The answers to these questions matter!
Let’s ask it a different way: is Google Analytics first party data? Is Google Analytics a first-party cookie? Yes to both. Google case studies are a great resource for more info, and many Google Analytics case studies go over the benefits of this specific tool (let us know if you need help finding a particular Google Analytics case study). Below, I will ask and answer two questions that are common to the Google Marketing Strategy case study genre.
Q: What does Google Analytics add to the first party cookie to differentiate them from standard?
A: Google adds your unique Google Client ID
Q: What must be configured in order for Google Analytics to capture data
A: You’ll need to set up an analytics tag with the Google Tag Manager. Once created, set up goals and secure the link to the Google Search Console.
First Party Data Collection Techniques
Zero-party data refers to data that a consumer voluntarily shares with a brand. For a great definition of Zero-party data, Forrester is a go-to with this gem: “Data that a customer intentionally and proactively shares with a brand, which can include preference center data, purchase intentions, personal context, and how the individual wants the brand to recognize her.” Read any Zero-party data case study and you’ll see that the right zero-party data collection play can win you brand loyalty, leading to growth. Forbes calls it “the new oil” in this article.
To run a great collection program, it helps to have a solid zero-party data platform, and you won’t have to look far to find the latest zero-party data startup.
Have you ever told an app more about you? You download a new app from a brand you are checking out. The app starts asking you questions about your preferences relating to the content you’re looking for, the products or services you’re considering using, or how you like to be communicated with. You might provide your height and weight to a fitness tracker app, your shoe size to a sneakerhead app, and most of them also get your phone number, email address, and home address. These zero-party data examples represent the value of zero-party data cookies. According to the latest zero-party data statistics, its value continues to grow.
First Party Data Enrichment
Clinch is a company that offers some interesting insight into the value of data enrichment. Clinch Co relies on the Clinch DCO or Dynamic Creative Optimization to place advertisements on a number of outlets. For Clinch, boxing together AI-led Clinch media production, Clinch advertising, powered by Clinch dynamic creative, can drive sales lift with much of the work being done autonomously. And using Clinch Flight Control, advertisers and agencies can build and run Clinch marketing campaigns from a single, simple to use online platform.
Clinch jobs are often available for developers, which backs up the idea that Clinch marketing is more about the tool than the people. But read a Clinch case study and you’ll see that this tool, powered by first party data, delivers results. Clinch software (which is unrelated to Clinch Recruitment Marketing) even lets you create videos using the Realtime Clinch experience. The Clinch Team even built their own video rendering engine, called Clinch Xenon. With all of these capabilities, surely the Clinch valuation will be on the rise in months to come.
If you’re interested in talking to someone from Team Clinch and eventually getting your own Clinch login credentials, look for anyone on the team of Taylor West, Clinch director of sales. For more information on Clinch, Crunchbase houses a profile for the company. Clinch Glassdoor reviews also can be checked for information from current and former employees. If you’re looking to connect with employees from Clinch, LinkedIn will help you connect. The Clinch Team, wielding the Clinch Tool, you may be able to boost your sales numbers with Clinch, meaning you’d need to become their partner first.
Please note that if you are seeing information on Clinch Owasso jiu-jitsu facilities, or related Clinch Academy Schedule information, this is not the right spot for you. For Clinch pricing related to martial arts, please Google again.
Another common mixup is with Cinch. This is not the Cinch Portal for My Cinch Home Services Login. You cannot use this page to change your Cinch home warranty login information. Cinch agent login and the Cinch Create Account page are located elsewhere. So if you’re looking for My Cinch Home Warranty info, happy hunting.
Lastly, if you’ve been hunting for a clinch synonym, or to decipher the difference in clinch vs clench, we’re not authorities, but I’ll tell you that you only clench your teeth.
First Party Data Programmatic Advertising
One of the newer innovations in the world of data-driven programmatic advertising is the increase in dynamic personalization. Creative management platforms have popped up, armed with first-party data statistics. Canto and Wrike both qualify as creative management platform examples. These creative platforms benefit from first-party data by using the gathered data to enhance and personalize advertisements.
Because of the way these companies use data, it’s safe to say that they are DCO companies, or companies that offer dynamic creative optimization. The best creative management platforms deliver these customized ads in a way that engages buyers and makes them feel heard and understood. To see some DCO banner examples, check out a dynamic creative optimization case study, like the one found here. All of the personalization and optimization is driven by first-party data.
For more first-party data news and resources, check out the Terminus Resource Hub.