ZERO

Zero-Party Data

Leverage zero-party data to gain deep customer insights that you can act on to transform the customer experience.

Forrester: ROI of Zero Party Data - Building Customer Trust

DEFINITION

What Exactly is Zero-Party Data?

The term ‘zero-party data’ was first coined by Forrester Research to describe any personal preferences, insights, profile data or consents that customers freely share about themselves with a brand.

When customers share zero-party data, it gives companies clear insight into their needs, interests, behaviors, and intent – unlike first-party data which can only offer inferred insights generated from purchase history or basic demographic data like date of birth. As a result, customers expect companies to provide them value in exchange for their willingness to share their personal information.

Zero-party data aligns with your customer’s desire for personalization, transparency, and control, increasing customer engagement.

UNIQUE

Zero-Party Data is Highly Valuable Because:

It is unique to your brand
It is the ultimate source of truth because it comes directly from your consumer
It is based on the level of trust between brand and consumer
It enables brands to provide value to the customer in return

With zero-party data available, organizations can respond by providing hyper-personalized and relevant customer experiences. This perceived mutual value to the consumer motivates them to continue sharing data in the future. It is important to expand zero-party data collection efforts consistently across the organization, ensuring a brand experience your customer can rely on. Finally, you must incorporate this data into a centralized platform that provides both transparency and control to the consumer.

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COMPREHENSIVE

Our Technology Leverages All Types of Zero-Party Data

Preference management

Effective preference management honors the desires and preferences of individual people by employing the right platform, processes, and best practices for gathering preference data along the customer journey. Our technology helps you build trust with your customers by providing an open, transparent, personalized customer experience where they feel comfortable sharing data with you. As they receive valuable content and communications in return, their engagement increases, and the customer relationship is enhanced.

Consent management

Capture and honor your customers’ consent to create a foundation of trust and to avoid exposure to significant regulatory fines. When customers have confidence in how you use their data, they will consent to processing their data and share personal insights willingly. Yet, requirements for collecting consent vary across jurisdictions and are becoming more complex. PossibleNOW’s technology can help you put an omni-channel consent management program in place across the full customer journey.

Customer insight management

The better you know and understand your customers, the more effectively you can engage with them. Our platform helps you consolidate survey, feedback, and opinion data from aggregate reporting and tie it to individual profiles, managed and controlled by the customer.

This represents an untapped opportunity to gain omni-channel customer insights, thereby leading to more responsive, relevant, and personalized customer experiences.

Profile Data

The collection of profile data includes customer name, address, phone numbers, etc. Customers can easily update the information they are providing in real-time through the trust center site, inside a customer portal, or along the customer journey.

Zero-Party Data / Preference Management Buyer's Kit

Buyer's Kit

What’s the difference?

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Zero-party data

Zero-party data is data or personal information that your customers or users actively and freely choose to share with you. This data is directly collected from your customers and not by using tracking pixels, cookies or cross-device identification. It is more valuable than traditional first-party data since customers proactively share it, making it more trustworthy and definitive than inferred data like traditional first-party data.

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1^st-party data

First-party data is defined as data that your company has collected from your customers as the customer interacts with the brand. First-party data includes profile data such as demographic information, purchase history, subscription data and tracking user behavior on your website.

If you've ever looked at a product online and then continued to see ads for the product across social media channels and banner ads, that's an example of first-party data retargeting.

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2^nd-party data

Second-party data is data that an organization collects straight from its audience and then sells directly to another company. Essentially, it is another company’s first-party data that your company has permission to use.

For example, a large advertiser might partner with a large publisher to gain access to its audience information. As far as the advertiser is concerned, that information isn’t “first party” data because it didn’t collect it itself.

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3^rd-party data

Third-party data is any data collected by a company with no direct connection to the consumer whose data is collected. third-party data sources may include websites, social media networks, surveys, and subscriptions.

For example, a third-party data provider might pay publishers to let it collect information about their visitors and use it to piece together detailed profiles about users’ tastes and behaviors as they move across various websites. This information can then be sold to advertisers to help them target their ad buys.

Gather zero-party data to understand the preferences, expectations, and emotions influencing the behavior of individual customers, rather than relying on inferred data insights that can lead to inaccurate personalization and CX.

Trust, Transparency, Control: The New Customer Imperatives

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