Hi, I’m Bianca, Strategy Director at Profusion and today’s email best practice session is all about zero party data and how to collect it.
We’re all familiar with the 4 main types of data:
• 3rd Party which is aggregated from various sources and bought and sold on a data exchange This is used to create comprehensive audience profiles and almost exclusively used for advertising to new prospects
• 2nd party which is someone else’s 1st party data sold directly from the company that owns it. So perhaps info on that companies audience such as activity on their website or apps, purchase history
• Open source Data this is data open to anyone such as google trends which analyses the popularity of top search queries or Zoopla open data which provides info on property value and trends
But where does zero party come in?
Zero party data supercharges all the above. It’s information that is intentionally and proactively shared by customers.
Why is it so important?
Reaching customers remotely and effectively is crucial in weathering this period of disruption and its more important than ever to have clear communications with your customers and create a dialogue.
Especially considering people’s situations could have changed dramatically compared to before Covid they could still be socially isolating or lost their jobs for example.
Asking the right types of questions and getting responses means you can better target the right customers with content that’s relevant to them.
Would there be appetite for it?
A recent study by EConsultancy found that 53% of UK consumers are willing to provide data for good or services. Consumers want to be excited and inspired so understanding what it is they want is key.
How do you collect it?
Simply ask in the form of an online survey or poll via email is the most effective way to do this.
Yes, you aren’t going to get responses from everyone, but you will from a decent set and it means that your follow on comms will be tailored to this group. You need to ensure that you honour the implied promise to follow up.
We’ve seen success with a few of our clients, so this is a First Direct mortgage campaign and you can see that the initial send was asking customers the question of where they were in their mortgage journey. We saw a fantastic result and an increase in open rate of 59% and relative increase in click through rate of over 500% and the follow up comms after were targeting the customers achieving open rates of as high as 81% and clicks of 14%.
Again, we’ve seen success with M&S bank with a poll about upcoming holiday plans enabling follow up comms about foreign exchange and currency to be super targeted resulting in a relative increase in opens of 103%.
So as you can see from those metrics the proof of its success is in the numbers, testing how much it increases engagement and conversions is key. Exploring the right channels to speak to customers is also useful. We’re probably biased but email is the perfect channel to test this types of comms out and can be used as a one off piece as well as part of an onboarding journey, be that for a newsletter sign up or subscription.
I hope that was helpful if you have any questions please feel free to get in touch: