Ask any advertiser, and they’ll tell you that overlooking customers is never an option – which is why all marketers are raging about customer data at the moment. Since customer data has long been the driving force behind digital advertising and addressable media, the industry must adapt as privacy concerns have altered how media is distributed.
While data is a vital source that provides useful customer insights into things such as their buying habits, many advertisers are unsure of how to effectively leverage data for their own benefit. First-party data could be the answer to successfully using data to drive TV advertising.
Let’s explain why and how to drive your TV marketing with first-party data.
What is first-party data?
First-party data is the information that a business or advertiser obtains from its customers directly and owns. It is one of the few types of data that advertisers can use legally.
First-party data can improve and minimise the demand for other sorts of data when it comes to TV, digital advertising, and addressable media. The company’s own software and systems are used to compile this customer data. A business can use this information to produce ads, content, and experiences that are tailored to the interests of a consumer.
This is not to be confused with third-party data, which typically comes from an outside source that has accumulated the data, rather than from a direct connection between a customer and a business.
First-party data for TV advertising
Companies can securely link their first-party consumer data with a nationally weighted TV viewing panel. They can then apply the information obtained to determine what their customers are likely to purchase, watch on TV, and engage in. This information generates targeting specifically to your brand and campaign measurement possibilities, which may result in time and money savings in addition to the growth of your company in the long run.
The benefits for television marketing
With first-party data, you can target new but comparable customers on linear TV by using the common characteristics and viewing habits of your existing consumers. The customer insights you obtain through first-party data are unique and go into extreme detail, meaning you can segment and define your target audience more effectively, which, in turn, makes targeting easier. You can use this information to determine which networks will effectively reach your audience in the future when making marketing plans. Additionally, you can complete the circle by comparing exposure and transaction data to determine who saw your ad, and the action they took once they had seen it.
CTV and first-party data
Through connected TV (CTV) advertising, you could target audiences more effectively, and approach or retarget consumers using the information you gather from your first-hand data. You can place your CTV efforts just on consumers who are most likely to be interested in your company and what you offer by leveraging first-party data to target your audience’s interests and location.
As you can see, first-party data offers some exciting opportunities for businesses and advertisers, especially with the rise of popularity of CTV services. With these things in mind, you will be able to take the first steps towards using first-party data to drive your TV advertising campaigns.
Read more: Four Ways TV Can Help Your Business