Customer profiles are an essential tool for marketers looking to personalize their campaigns, but third-party data is often missing from the puzzle, according to a blog post by the marketing company, Epsilon. Third-party data, which is purchased by companies from external sources, can provide crucial details about a customer’s preferences, behaviors, and demographics, but blending it with data from first-party sources is necessary for producing a complete, up-to-date, and accurate profile. The post also warns about the risks of relying too heavily on third-party data, such as inaccuracies and non-compliance with regulations. Epsilon recommends a combination of first-party data, such as transaction history and CRM records, with third-party data, such as purchases made outside an organization, to provide a comprehensive customer profile for efficient targeting and personalization.
Excerpt from the main article:
It’s difficult to finish a puzzle when you’re missing pieces. Yet, this is exactly what brands have been trying to do for years with incomplete customer profiles. The result? Media waste, irrelevant messaging, low engagement, or worse… lost customers. Fortunately, as one retailer found, there are data solutions to fill in the gaps, maximize contacts across channels, and ultimately impact the bottom line.
Third-party data: The missing piece to solve your customer profile puzzle was originally published on EPS US – Blog