Third-party information gathered from data brokers could have errors ranging from 10% to 15%, according to Deloitte.
First-party data, acquired from the consent of users, allows brands to have a clear, actionable view of their customer journey and enhance campaign performances in real-time. Brands can further create tailored messages and automate their key marketing strategies from first-party data.
Marketers should lessen their reliance on data brokers, as information gathered through third party sources could be inaccurate and illegitimately obtained. This article states that while not all third-party data is unethical, marketers can use some of it to create personalised digital campaigns.
However, with GDPR and data watchdogs becoming wary about data collection methodologies, brands should gather data first-hand. Data collected directly from consumers can also help product teams build products and services addressing real-world pain points.
[3 minute read]