In a digital world, navigating the different types of data and their different marketing potential or legal limitations can take time. Companies are responsible for protecting their HCP audience and using first party data allows them to do this legally, ensuring their healthcare media campaigns are successful and compliant.
1. Increased accuracy and relevance
First-party data, such as website browsing or purchase history, is collected directly from your HCP audience. This data type is more accurate and relevant than third-party data from external sources. First-party data also has a higher data quality than other data types. Using first-party datacreates more personalized and relevant ad campaigns which are more likely to resonate with your target audience.
2. Better targeting
First-party data allows you to create more targeted and effective campaigns. For example, if a customer has recently made a purchase, you can use that information to target them with ads for complementary products or services.
Create a lookalike audience based on your current HCP audience to expand your reach. Consider those with similar attributes as HCPs who may also be interested in your products and are likely to convert.
3. Compliance with data privacy laws
Using first-party data can help you comply with privacy laws like the General Data Protection Regulation (GDPR) and California Consumer Privacy Act (CCPA). With these increasingly strict laws, web browsers, and social media sites, such as Facebook, are making it more difficult for third-party data to be collected on web users.
4. Better ROI
Using first-party data can create more effective ad campaigns that generate a higher return on investment (ROI). The more accurate and relevant your media is, the more likely people will engage with them and take the desired action such as making a purchase.
How are these campaigns more accurate?
Through first-party data, you can map the customer’s journey with precision, understanding the right time and place to send a specific message to get leads down the marketing funnel. Instead of estimating when to deploy a message to a contact, you will have a media strategy guaranteed to drive results.
5. Competitive advantage
Using first-party data gives you a competitive advantage over companies who rely solely on third-party data. By having a deeper understanding of your HCP audience, you can create more effective media campaigns that will allow you to stand out from the competition.
You can gain all the above benefits by leveraging Adfire’s first-party data sets without having your first-party data.
First-party data is a great way for organizations and digital marketers to stay ahead of the curve against the uncertainty of second and third-party data use, as users become increasingly protective over their data and how they are tracked online.
Want more information on how to achieve a strong ROI on your next media campaign with first party data?
Appendix
Here are some quick definitions of the different data types you may encounter on your digital media journey.
First party data: your organization has collected directly from its social media, website, or HCP audience.
Second party data: data that is collected through another vendor or organization. Businesses usually purchase this data from a trusted source with information about an audience it needs. While this data can provide information quicker than the traditional relationship-building method, it can also be a risk as this information can be pricey and may only sometimes be useful to your organization.
Third party data: data collected by any organization without a direct link to your organization or the target audience. This data can be compiled from many sources, giving you a 1000-foot view of your target audience’s general consumer behavior. However, since this data is also easily accessible by your competitors, it may not prove as useful as second or first party data.
