Better Than First-Party Data: "Zero-Party" Data - Episode 150

INTERVIEW WITH RICHARD JONES, CMO OF CHEETAH DIGITAL

 

DESCRIPTION

In this episode, we are joined by Richard Jones, CMO of the largest independent marketing software company and a co-host of the 'Thinking Caps' - podcast on marketing strategy. Today we are talking about Zero-Party data collection, and how brands are leveraging loyalty programs to build their own data and insights about their customers, without being confined to the limits of the walled gardens of FB, Google, and Amazon.

Tune in to learn more!

Richard Jones is the CMO of Cheetah Digital. Cheetah Digital is a cross-channel customer engagement solution provider for the modern marketer. One of Cheetah Digital's core capabilities that are relevant to listeners is their Engagement Data Platform - a way to achieve a single view of the customer across their lifecycle. A common concern of brands is the 'walled gardens' that exist across platforms like FB, Google, Amazon, etc, and this is one of the issues that Cheetah helps to solve.

KEY TAKEAWAYS

  • Richard talks about his career in Engaged Sciences, Wayin, and Cheetah Digitals.

  • First-Party Data - broader term, made up of observed data.

  • Zero-Party Data - self-reported data - data explicitly given by consumers, for brands to better serve the consumers.

    • Complete transparency - clear value exchange

  • Bad examples - apps selling location data: marketing at its worse

    • Snooping on consumers

    • Re-selling 3rd party data

  • Good examples - marketing campaigns, loyalty programs: 

    • Kiwi Bank partnered with TVNZ - campaign Meet your Money Self: interactive quiz that profiled spending habits in exchange for hyper-personalized financial advice.

    • What makes you say Yay - to promote and recommend a range of its US long-haul flight destinations, Air New Zealand launched an interactive category quiz, which neatly profiles visitors on their favorite pastimes. 

    • Nordstrom - in-store, shoppers can access the retailer’s digital Fragrance Finder for a more personalized shopping experience.

    • Loyalty program - value exchange construct to get closer to customers.

    • Mid-market size brands - archery supplier from Denver: zero-party data vs. mass media.

  • The cookie will die in 2 years, the industry needs to change.

  • Thinking Caps podcast

MENTIONED IN THIS EPISODE

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