It’s party time!
First-party data time, of course.
With today’s growing privacy concerns and tobacco regulations, using second or third-party data for your business won’t cut it anymore. However, when you own your first-party data, you can put it in play to open endless marketing possibilities. So, pivoting your tactics to include first party data is necessary to stay ahead of the game.
We’ll show you how to use first-party data to create effective marketing tactics while overcoming ever-growing restrictions. Knowledge is power, and you have the key to unlocking it with first-party data to generate more cigar sales than ever. So, let’s get this party started!
What is First Party Data?
First party data is all the information that your business acquires directly from your customers. It’s in-house data that your business owns. From gathering and sorting information through various channels to translating it into usable data, first-party data is the most direct way to gain insight into your customers’ buying habits, wants and needs, and behavioral trends on your website.
How Does First Party Data Compare to Other Methods?
First party data is the future of information gathering. Small businesses and large companies alike turn to first party data for low-cost yet highly effective insight. Yet that hasn’t always been the case. So, it helps to better understand first-party data’s rise by comparing it to other common data-sharing methods.
First Party Data vs. Second Party Data
When a business collects first-party data from its clients, then shares that information with another business, it is considered second-party data. It’s appealing because the data is often shared freely without purchase and circumvents many privacy restrictions. As a result, second-party data can be a lucrative and cost-effective way to get data. Yet it is only truly effective when shared with trusted companies that offer relevance to your business and your customers.
First Party Data vs. Third Party Data
Third-party data is information a company acquires without a direct link to target customers. Instead, companies purchase data from third-party providers, specializing in detailed consumer information on demand. This method was, until recently, one of the most popular marketing tools, even though it is often acquired at a substantial cost. However, new privacy and third-party cookie laws, marketing restrictions, and change in industry philosophy have limited third-party data’s desirability.
First Party Data vs. Zero Party Data
While many consider it another form of first-party data, zero-party data is unique in that businesses do not actively seek information from customers, nor is data gleaned from website behavior. Rather customers initiate the process by providing info through polls, surveys, or other voluntary methods. Since the customer provides it, zero-party data offers a high level of accuracy. However, the customer owns the information they volunteer, and often the scope of data collected can be limited. So, zero-party data is best served as a complement to first-party data.
Each level of data offers some benefit to your cigar marketing strategy. Yet only first-party data offers a clear-cut way to get specific customer information that combines accuracy, privacy compliance, and relevance, all at little cost.
Why Own First Party Data
First-party data combines the best of all data collection methods, providing you with invaluable insight that helps build marketing campaigns to best reach your customers. With minimal restrictions, first-party data gives you greater freedom to evolve the customer experience while bolstering customer retention. It’s information you own and can use to create marketing campaigns best suited to your goals.
Of course, one of the biggest concerns when planning your cigar marketing strategy is the growth of privacy regulations and restrictions on how you market cigars and tobacco. In addition, the rise of SHAFT laws and other prohibitive mandates have made third-party data an unreliable option with dwindling value.
The emphasis on privacy and data collection and a need to comply with the General Data Protection Regulation (GDPR) and other strict worldwide privacy laws has sparked an industry-wide pivot towards first-party data. Third-party data purveyors like Google have reversed tact to minimize privacy concerns. Google announced it will phase out third-party cookies from its Chrome browser by 2024. This shift in thinking has made first-party data the information-gathering tool of choice for companies and marketers around the globe.
So, first-party data is essential for cigar businesses wanting to take the next step in leveraging customer information. Our team can help you unlock first-party data’s massive marketing potential, so you can increase revenue while minimizing regulatory challenges.
Ways to Collect First Party Data Examples
You have many options when gathering first party data. You can collect data from all your business channels, from in-store engagement to your customers’ website activity. Each way offers a glimpse at unique customer traits you can use to refine your marketing strategies to deliver tremendous sales growth.
- Online Browsing Activity
- Purchase History
- Push Notification Response
- Email Engagement
- Social Media Interaction
- Product/Warranty Registration
- Customer Questionnaire
- Content Sharing
- Customer Feedback
- Newsletter Sign-up
When used collectively, these and other data collection methods provide a potent blend of insight, value, versatility, compliance, and marketing leverage that other data types just can’t offer. Moreover, since these methods are already built into your business channels, consumer information is low-cost and easy to access.
First-party data can be used to construct customized, highly successful campaigns. For example, you can build SMS and email campaigns around insights into your customer’s in-store and web browsing behaviors to create a deeper, more personal connection with them. As a result, you’ll improve the customer experience and get that final push to reach beyond your marketing goals with very little, if any, additional cost.
Suppose you aren’t sure just what to do with the first party data you collect. In that case, Cigarketing can help you translate the information and transform it into winning marketing strategies for your cigar business. Whether your shop is brick-and-mortar or online, first-party data gives you the flexibility to gain the marketing edge you need to succeed.
Leverage Your First Party Data With Cigarketing
Owning first-party data is the best way to grow revenue while tackling the many privacy concerns and tobacco marketing restrictions you face daily. Cigarketing can help you put first-party data into action today so your cigar business is ready for the challenges and opportunities of tomorrow.
It’s time to reward your cigar business with a first-party data celebration.
So, get the party started and contact us today!