For the data-driven
We’re not the first to highlight a shift in best practice when it comes to data acquisition. Our Rise of the Responsible Marketer report which was published last year unpicks the relationship between trust, marketing, and loyalty. Various industry forces have made it harder for marketers to rely on third-party data. Brands and marketers are expected to leverage first-party data in their personalization and retargeting efforts.
First-party data is information about your audience that you have obtained firsthand, it is collected and owned by you. First-party data includes information you hold in your CRM system, data from your website, app, and social media accounts, data around the purchases your customers are making, engagement data derived from the messages you send your addressable audience, and of course survey data. This is by no means an exhaustive list but it gives you a flavor of what is meant by first-party data.
All of these data points can be immensely valuable when devising a digital marketing strategy that lands where you need it to; in the mind of your (future) customer. It’s likely that there is a ton of first-party data you already hold. Yet 87% of marketers say data is their company’s most under-utilized asset.
At Dotdigital we want to change that. Last year we launched segment analytics and single customer view (SCV). Paired with our advanced customer analytics capabilities (remember eRFM?), you can start using these insights to better understand your customer at every level. Single customer view, as the name suggests, can be a powerful tool with which you can research your personas in granular detail, it can also be used as a way to validate your data acquisition strategy. Single customer view in Dotdigital shows you what data points you are collecting, and where there is room for improvement.
Segment analytics is the next level up from that, you can gain engagement, web, and order insights into any segment you create in Dotdigital. So, how has the feedback been? In a nutshell, many of you told us this is awesome, but wanted this level of insights for address books too.
So with this February release, we give you address book analytics. Similarly to segments, you can now dive into the detail of any address book in your Dotdigital account, and understand what day of the week they are most likely to engage with your content, what products they view on-site, what the purchase profile for that cohort of customers looks like, and more.
Ultimately, this will help you gain a deeper understanding of your customer, and use data-driven insights to improve how you market to your audience.