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Trust, transparency and ROI: the benefits of zero-party data for business

Trust, transparency and ROI: the benefits of zero-party data for business

As leaders in big tech shift to a permission-based model (namely, Apple’s recent implementation of App Tracking Transparency and Adobe’s Real Time Customer Data Platform), we see obtaining consent and zero-party data as core to success in the next area of digital advertising.

Structure a permission-based marketing arrangement so consumers receive rewards for their engagement. Give them ownership over their information when they proactively choose to share (or not share) their information. They deserve compensation for their data sharing because it holds measurable value. Companies can no longer buy and sell valuable personal information for targeted advertising without some form of compensation.

To collect zero-party data, add value-exchange ads to your marketing strategies. Work with partners to offer extensions to a free trial after they complete a survey or watch a video. Perhaps there’s additional premium content or offers the team can attach to the customer sharing more information. Another possible outlet is value-based ads in mobile gaming, where users eagerly take rewards such as in-game currency in exchange.

Create more opportunities for conversation starters with the customer through website questions for new visitors or quizzes that help customers find the ideal product for their needs. Ask shoppers to customize their clothing fit by providing height, weight, color and style preferences. Introduce customization and personalization to products and services as a way to ask for preferences and then leverage zero-party data. This data informs product offers and also the brand can build tailored profiles for future visits or engagements. When aggregated, use this information to shape marketing budgets or refocus R&D efforts.

Yelp asks users their preferences, including their favorite cuisines, price ranges and other parameters. The firm uses this data to personalize the experience, and users have ‘bought into’ this experience because the data came from their willing participation. According to research from Cheetah Digital, 52% of consumers would share personal data in exchange for product recommendations. They’re savvy enough to understand the trade-off between data sharing and how quickly and seamlessly they can interact with a brand.

Intent is the goal. With zero-party collection practices, create processes that make it easy for customers to intentionally share information. Use clear and transparent language stating you’re collecting data for an express purpose. It’s the best way to build customer trust and acquire clean data. Accenture notes that 83% of surveyed customers are more willing to share data when brands act transparently. When there’s trust, customers might not submit fictitious ( email addresses and instead offer their own primary email or other truthful data, which holds much more value.

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