We pride ourselves in providing exclusive, targeted second-party data to our co-op members. Today, in marketing and eCommerce, reaching the right target shoppers is more important than ever! Shoppers are bombarded with advertisements and products, whether in-store, online or on their mobile devices. It is best to catch the shopper’s attention when they already know they are looking to buy. How do you know when shoppers are interested in buying? The data will have the answer!
The two most well-known types of data are first-party and third-party data, but what about something in the middle? Every company is swimming in their own first-party data, or, simply, their own data. Your company’s own data can only secure so many new shoppers merely based on who visits your website or continually purchases your products and services. Companies need to expand their reach.
Third-party data is readily available to businesses. Companies can buy third-party data on any topic, ranging from demographics to behavioral interests, but how accurate is this data? Third-party data definitely has its draw and can be a part of the mix if scale and mass reach are the priorities, but the transparency behind this information, along with its origin and accuracy is a bit clouded. If your company is going to reach out for additional shopper data, wouldn’t you want peace of mind on where the information is coming from?
Between first and third-party is the answer to this dilemma. Second-party data brings the best of both worlds. It expands your company’s reach to new potential shoppers outside of what your company’s own data provides, but with a glimpse of transparency to where the data originates. Second-party data is simply another company’s first-party data. To increase its appeal, by focusing on second-party data sources in the same industry or area of expertise, the data gathered will be of great value to your company and their outreach efforts. Why wouldn’t you want to reach out to a potential shopper who has demonstrated interest in your services by visiting a related company’s website? You can reach them exactly at the right moment, when they are already interested in buying.
Again, second-party data is another company’s first-party data, but, in the end, it could be your solution to a new world of shoppers. If your company is in the hunt for the answer to new customer acquisition, drop us a note. We might just have the data you need.
Hivewyre is a forward-thinking programmatic advertising company. Their private data cooperative allows advertisers to share first-party audience data and build targeted campaigns for prospecting new customers based on their competitors’ unconverted shoppers. Hivewyre advertisers have access to fresh, exclusive data that will never be sold to a third party. With over 500 retailers and over 100 million monthly in-market shoppers in our co-op, our distinct advertising strategy allows you to combat rising search engine PPC & PLA costs and the ever-expanding online marketplace growth. In addition to access to the exclusive data, co-op members benefit from full-service account management and detailed reporting of the return from advertising spend. To learn more about Hivewyre, visit www.hivewyre.com.