Chat with us, powered by LiveChat

What Is Third-Party Data And How Is It Beneficial To You?

What is Third Party Data

Data is a part of our daily lives, it is everywhere. Data is collected from simply searching the web on your desktop, phones, making a purchase online or at a store. Or simply share your personal information via email, chat, or the old school way pen and paper. Information is being collected about us for purchasing habits that can be used for data collected marketing campaigns.

As you can see, we need data to survive like we need water, and what’s crazy is Marketers, publishers, agencies and much more are lacking first-party data to complete their data controlled campaigns, so what do they do? Well, they rely on third-party data to help meet their end goals. It’s important to know what kind of third-party data you should obtain, and if the quality of the data can create success for your marketing campaigns.

People expect personalization when they are being contacted. How can you personalize a message without data on your customers? If you don’t have the data you aren’t sending a good message to your customers, which results in a deleted message, ignored, or sent to the junk folder.

Data is not the issue here, in order to better target and segment audiences organizations must personalize their messaging in order to receive a response from prospects. So let’s take a deeper look at how data can help.

What are the different types of Data?

Before we dig deep into third-party data, let’s discuss what consists of first and second-party data:

First-Party Data: Is the information you gather and collect yourself.  From trade shows, online forms, email newsletter subscriptions and more. This means that you are the source and you own this data. First-party data is known to be the most valuable and highest quality, and of course, it would be, you collected it.

Second-Party Data: is considered someone else’s, or an organization’s first-party data. You received this data from the owner of the data, so you do not have any questions about where the data is coming from. Second-party data is the next best data you can get other than the first party.

Third-Party Data: Third-party data is a much larger scope than other data types. Third-party data is information purchased in large bulk, most often you will buy from a data aggregator. The provider doesn’t actually have a direct relationship with the customer to collect personal information. Third-party data providers are very common around the world. You can use third-party data to reach new updated target audiences to better understand your customers.

How is Third-party data collected and who uses it?

Third-party data is collected and used by data management platforms, which in short are called DMPs, or also data providers so they can build audiences and profile segments that organizations can buy for marketing campaigns.

Examples of Third-Party Data:

  • First and Last Name
  • Address
  • Phone Number
  • Postal Address
  • Email Address
  • Purchase history
  • Web browsing activity
  • Social Media Handles

Benefits of Third-Party Data?

You have the ability to fill in the missing pieces of existing data files or even have the chance to build new audiences. Third-party data can help you create new segments for more improved audience targeting purposes. It allows your business to look above and beyond your basic audience data.

How can Marketers use Third-Party Data?

  1. Fill in the gaps of your first-party data

There is no doubt that the data that you collect yourself is most important, but your first-party data has no much more potential. What do I mean by that? This is where third-party data can help. You have the ability to learn more about your customers with data you originally didn’t have access to.

    2. Broaden your Audience

You have the opportunity to broaden your audience with third-party data. You already have access to 1st party data, but in order to have successful marketing campaigns, it cannot stand alone. In order to know more about your customers, you take advantage of third-party data.

    3. Discover new audiences

Who doesn’t want to grow their business? If you are broadening your audience you also have the opportunity to discover new audiences. When you take advantage of third-party data you will also be able to expand your reach and business.

Why use Webbula’s Third-Party Data?

Is your customer data like a puzzle? Are you in need a few pieces? No worries, Webbula’s Data Appending solution is the industry-leading service that includes more than 87% of all Americans constantly updated, email hygiene rated, and pulled from over 100+ sources. What does that mean? It means great news for email marketers who can refresh, or expand upon existing audiences by gender, address, demographic. Automotive, B2B, political, financial, interest/lifestyle data and more.

Or you can take a deeper look into each category to build an audience that goes beyond demographics and deliver relevant messaging based on actual interests, hobbies, online behaviors, donations, politics, income, education and much more.

With Webbula Data appends you will truly understand who your customers are, their interests, and their cross channel behaviors to better enable sending targeted and effective email campaigns.

With over 330 million email addresses, 200+ million Mobile IDs, 216 million individuals, 245 interest categories, 85 million automotive records and more – Webbula Data Appends will surely bring your campaign to life.

Visit Webbula.com to learn more about Webbula’s Data Appends solution.

 

Take a moment to check out more articles:

Filling in the Missing Pieces: Data Appends

Video | Webbula Data Appends

Not Your Mom’s Data Appends

Powered by Optin Fire