March 21, 2023
Retail Growth

5 Easy Ways to Drive Growth with First-Party Data

Sean Turner

Learn how brands can elevate their game and maintain impactful digital relationships with the power of first-party data.

Third-party cookies once helped propel digital advertising to new heights—but with the continuing rise of data privacy laws and retail media solutions, they’ve lost their luster. More than ever, brands and retailers alike must embrace new and innovative ways to sell consumer packaged goods and other products.

Third-party cookies are notorious for collecting user information from outside sources, without consent. This practice is not only outdated, but has been shown to provide inaccurate consumer insights. First-party data, a fairly new technology, helps companies learn about their customers through direct interactions, leading to an improved, tailored shopping experience. It’s a tool currently driving the new digital frontie. But how?

Here, we’ll discuss five simple steps to leveraging first-party data and delivering powerful, long-term growth.

1. Collect relevant user data

The first step is simple: gather information that matters.

It’s essential to collect a variety of data points to get a clear sense of customer behavior—anything from general customer attributes to their daily shopping habits. Third-party cookies provide an incomplete picture that doesn't resonate with consumers while first-party data ensures that retailers acquire the exact information they need to gain a strong understanding of what their shoppers want.

2. Use a customer data platform

First-party data requires companies to closely engage with their users. To do this at scale, retailers must implement a robust customer data platform(CDP) that centralizes information and streamlines the advertising process.

For instance, Swiftly’s analytics tool provides measurable insights that can strengthen trust and solidify loyalty. Whether customers browse products on their mobile app or make repeat purchases, retailers can use a CDP to capture a real-time view of their shoppers and improve their digital relationships.

3. Analyze consumer behavior

Paired with a retail media network, a CDP can go even higher. Retailers can keep track of recurring consumer behaviors and formulate ways to reach customers with better, more accurate advertising content. Let’s say that a customer browses exclusively vegan products. A data driven retailer would make sure to recommend consumer packaged goods that don’t include animal ingredients.

4. Evaluate customer trends

Real-world events inevitably impact customer habits; we’ve seen this happen with the pandemic and inflation. Retailers and brands must be aware of shifting trends and meet shoppers in the middle. With first-party data, they can take a more proactive approach and provide timely responses to emerging trends.

5. Strategize for personalization

One of the main benefits of first-party data is its ability to utilize personalization, a rising strategy in retail technology that uniquely tailors the shopping experience to each customer. It’s no industry secret—in fact, 73% of shoppers actively anticipate that their shopping journeys will be personalized. Additionally, companies that master personalization see a 40% boost in their revenue in comparison to their competitors.

If personalization is the goal, first-party data is the tool to make it happen.

Optimize your customer interactions with Swiftly

In a digitally saturated world, maintaining strong customer relationships is key. With a Swiftly- powered customer data platform, you can fuel your digital strategy and thrive amidst a competitive market.

Contact our team to get started.