First-party data is all the data that is generated and collected directly by a company’s own properties and audience. Companies are able to use this data to improve their products and services, understand customers’ needs, and generally provide a better customer experience.
First-party data is immensely valuable for your business as you have ownership of that data. The data you’ve collected can be used for better customer service, increased understanding of your customers, more precise messaging for your marketing and advertising, and knowing for a fact that a 3rd party such as Facebook, Google, or Amazon can’t just change their algorithms and take away customer data from your business.(more…)