Q Thoughts

Why traditional audience segments aren’t enough

second-party data

In this day and age, reaching your prospects is…well, it’s harder than ever. Consumers are all over the place, and they’re picky – they have access to virtually anything, at any time, at their fingertips. To help simplify the increasingly complicated prospecting process, we’ve come to rely on:

  • First-party data: First-party data is YOUR own data. This essentially free data set includes anything from the data your CRM captures such as an email address to other on-site audience behaviors such as purchasing history.
  • Third-party data: Data aggregated through various external platforms and websites, and provided by numerous providers.

Both of these heavily utilized data segments come with their own set of benefits and challenges. First-party data is awesome but there’s not enough of it; meanwhile there’s plenty of third-party data to go around, but relevancy is determined by the third-party vendor, thereby lacking transparency – key in today’s overcrowded marketplace.

ownerIQ sees the middle ground, or second-party data, as the perfect data fit. Long misunderstood, 2nd party data is clearing the way for what’s missing in data: a mixture of transparency, relevancy, and scalability. Dumbed-down, second-party data:

  • Creates a new means for advertising revenue and greater brand awareness
  • Allows for exclusive access to more of the right data, or a partner’s first-party data
  • Is audience sharing made easy, seamless, and personalized

But just how do you get started with 2nd party data sharing? It’s not as hard as you may think – it just takes some creativity and a helping hand to help create and foster mutually beneficial and cooperative partnerships.

As a quick next step, check out our brand new eBook Not All Data Parties Are Created Equal for all the must-know deets to set you on your way to the second-party.

Enjoy and #Qthe2ndParty,

Team ownerIQ

Categories:Posts from 2016


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