In a recent webinar, Connexity, LiveRamp & MediaMath discussed how 1st and 3rd party come together to create value for marketers.
Watch the webinar here or continue reading for a few highlights:
Marketers are supplementing their own data with information from 3rd parties to:
- Find new customers: When 1st party data is added to prospecting campaigns, we typically see a performance lift between 50 and 200%. Marketers often use site pixels as the seed set for look-a-like modeling with 3rd party data, but data onboarding solutions make it easier than ever before to activate any of your 1st party data sources.
- Discover additional customer characteristics: The right 3rd party data partner can help you learn more about your customers and their interests. For example: through 3rd party data you’ll gain insight into what products consumers are looking to buy even if they haven’t recently shopped at your own store. With a better understanding of your customer, you’ll be able to deliver the right message at the right time.
- Find the most meaningful data signals: More data is always better. When you combine your data with 3rd party sources, you’ll discover trends that you didn’t expect. Data science can pick out the signals that matter the most and focus your marketing campaign on your most receptive customers.