Enrich the data you already have

The best marketing strategies evolve and grow with the consumer. In this six-part series, we focus on relationship marketing and how to get started with a marketing strategy that matures as a consumer’s relationship with a brand changes. Find the first part here.

Between social media platforms, Google Analytics, and data collected through your website or other personal efforts, you probably have so much data that you could skim through it, Scrooge McDuck style. All of this data can be overwhelming. Is it reliable? Is it correct ? Are you really doing anything with it?

By: Jennifer Yeadon, Cheetah Digital

It’s time to stop collecting data just to collect it. It’s time to start being intentional about what you collect and why you collect it.

The Gold Standard of Relationship Marketing

The gold standard for a relationship marketing strategy is collecting and acting on data. But not just any data, the to the right kind of data. In my last article, I talked about zero-party data collection using a value exchange. This is one of the best ways to collect data points that goes beyond first-party data that you can collect passively through forms, purchase data, etc. Zero-party data is the preference data that helps you get to know a consumer, transforming them from an unknown consumer to a known customer – a customer with whom you can begin to build a relationship.

But here’s the truth about zero-party data collection: you’re never really done collecting it. People grow, circumstances change, and there will always be something new to learn about your client. This is important to grasp, because relationship marketing is about building and then nurturing the relationship. Just like your personal relationships, it involves constantly checking in.

Instead of running a large network to capture data points you don’t need, try enriching your data by collecting preferences, interests, and other psychographic data. Think about 20 things you would like to know about your client. Then, start asking them 1-2 questions at a time, aligning the conversation to the information you’re trying to gather. Understand their needs and how you can meet them, while promoting how you can meet those needs. This way, you can take the relationship beyond simple transactions and increase personalized communications.

On the way to your final destination: better knowledge of your customers

A great example of enriching the data you have is how American Airlines engages its customers. Instead of just sending out promotions and getting that one-time engagement, they wanted to see if they could drive repeat engagement with multi-month campaigns. And not just to get more clicks and possible purchases, but to truly listen to their customers.

They started by asking customers to sign up for an opportunity. From there, they worked to get to know their customers by asking them specific questions in fun quizzes. Where do you like to travel? What would you take on your next trip? Will your next trip be professional or personal? Each time customers engaged, they earned points for their participation, while in the background, the airline assembled profiles that would inform personalized campaigns and offers.

One such campaign was to create personalized destination recommendations powered by preference data collected from their quizzes. They wanted to encourage customers to think about new places to travel that they hadn’t considered before. By personalizing messages based on their zero party data insights, American Airlines recorded 50% open rates on these emails, with an 84% response rate on their questionnaires. On top of that, they have enriched profiles that show American Airlines cares about listening and interacting with their customers.

Backing up a modern data strategy

A zero-party data strategy is one that respects consumers and their data, ensuring that data collected is done voluntarily, in a consensual manner, and with full transparency about how it will be used.

But there are other issues on the horizon regarding the use of data, one being how it will be used in new digital landscapes like Facebook’s metaverse. Cambridge Analytica whistleblower and author Chris Wylie will speak to Cheetah Digital CMO Richard Jones about the Metaverse, the future of marketing and how privacy will be affected by these new technologies. Join the conversation by registering for this webinar: The metaverse, marketing and the future of privacy.

Jennifer Yeadon is Senior Content Editor at Cheetah Digital. She enjoys writing about marketing, technology, and everything in between.

Don’t be a data hog: enrich your existing data