First-Party Data: Future of Digital Marketing
As we all know the digital industry ecosystem is very dynamic in nature. With the recent developments and changes in the marketing space, one thing always remains constant, Audience. Understanding our audience's behavior and reaching out to the right set of customers is the most important aspect. And for this, marketers require data to pull insights about their user behavior. This data is available in three forms: first, second, and third-party data.What is First-Party data?This is the advertiser’s data that they collect themself. First-part data includes information such as demographics, interests, time spent on the website, purchase history, etc. This customer information is collected from both online and offline sources, such as the company’s website, app, CRM, social media, or surveys. These data points can be segmented further and monetized by using a data management platform resulting in a personalized experience for the end-user.Why First-Party data matters:First-party data is g