The original version of this piece appeared as a Martech Series post.
With stricter regulations in place and greater consumer demand for less invasive data gathering practices, data collection is changing and marketers need to adjust their strategies to keep up. Having access to consumer data benefits you, the marketer, but it also needs to benefit the consumer. That’s why you need to offer consumers something valuable in exchange for their data.
What can you offer to convince them to share their precious information? Personalized product recommendations, tailored content, or exclusive discounts often do the trick.
Consumers also appreciate brands being upfront about how they plan to use their data. No need for sneaking around; consumers are usually happy to share information if they’re getting something out of it. And when you get this zero-party data, it can be used to engage consumers well past the initial conversion.
Prioritizing a consensual, informed exchange of data also encourages long-term loyalty. When consumers know they can trust you with their data, they will be more likely to share more data and continue the brand relationship. And with this high-quality data at your disposal, you can nurture the relationship to drive Customer Lifetime Value.
Ready to make the switch to zero-party data? SheerID can help you build exclusive offers, and our Identity Marketing Platform digitally verifies eligibility, allowing you to gather the data your brand needs to create long-term customer relationships.