What is First Party Data ?
First Party Data is the type of information commonly used in marketing and advertising. This term defines data that is collected directly from users such as website visitors, and stored for advertising and marketing purposes.
First Party Data typically includes data such as: behavioral data (actions and interests), subscription data, names and contact information, and social data. This type of data usually means that advertisers, publishers or marketers have previous relationships with customers so it’s commonly stored in customer relationship management systems. Due to this relationship, data such as surveys and feedback can also be stored as First Party Data.
First Party Data is commonly considered to be the most valuable data as it is collected directly from the source (visitors and customers) across systems that a business owns. It’s among the most cost-effective data types, as well.
Privacy concerns regarding First Party Data are minimal, and it’s also relevant and accurate as it comes directly from audience marketers and advertisers are targeting, or customers.
First Party Data’s value for marketers, advertisers and business owners lies in its personalization and forecasting capabilities. By analyzing the behavior of their customers and audience, marketers can predict customers’ future behavior, and tailor their offer to different audience segments.