Are you using first-party data?
When you are running a business, the collection of data can prove to be a valuable tool. Are you doing anything with the data you are creating?
Every day when you are speaking or interacting with customers data is being created. Do you have a system for collecting and using this data?
What is first-party data?
Simply, it is the data about your customers that you collect as a business. This information has been directly provided to you from them and maybe:
- An email address
- Phone number
- Purchase history
- A conversation that you had and can refer back to in the future
Many businesses choose to use a CRM system (customer relationship management). This CRM will track you and your team’s interactions with a specific customer.
For the smallest of businesses, this may be a simple spreadsheet and for others, it may be something larger and accessible by all team members. Technology makes it very easy and very affordable to utilise data to help your business to grow and to look after your customers.
What are the benefits of first-party data?
According to Google, more than 60% of consumers expect personalisation when they are receiving communication from a business. It is a proven fact that when consumers feel valued they are more likely to do business with that business.
As you have collected information from people who have already interacted with your business your message is more likely to be welcomed. Even if they haven’t done business with you for a while they may still welcome your communication to see if it is now relevant.
First-party data leads to an ongoing improvement in conversions, awareness of your business and ongoing growth of data.
Using your first-party data your can:
- Create targeted emails
- Show ads that you know your customers like
- Personalise all campaigns for your business
- Focus your budget on the areas that will convert high-value customers
Collecting first-party data
So long as you are following privacy regulations you are able to collect first-party data in any way that makes sense to you. Your website’s privacy policy should illustrate this and your email communications should show a way to unsubscribe or ‘opt out’ if people choose.
Email addresses should go into a list for future newsletters, these can be collected by:
- Purchase on your website
- An email subscription form
- Offering a discount for subscribing
- A free white paper
- Via the contact form on your website
Beyond this – If you have a sales process of nurturing your customers then it is important to have a CRM where you can keep a record of the dates you have communicated. This may be a call or email follow up and you can also record the conversation you had.
Remember that as a small business owner you are a salesperson first and foremost. It is important that you create and save data just as any professional salesperson would.
Do you need help to ensure that you are utilising your first-party data?
Contact Kelly @ My Sassy Business to outsource your newsletters and any other marketing to stay top of mind with your customers.
