2022 was a year of unprecedented growth and change in the industry. Cybersecurity was a major concern. The impending removal of third-party data also came into the spotlight.
As we look forward in 2023, data decision makers need to consider how they can continue to evolve. Here are four customer data collection strategies I've found to be particularly important at the moment. Every data professional should have these on their radar as they strategize for another year of success.
1. Collect First-Party Data on Your Website
Google has delayed the phasing out of third-party cookies. However, the event is still incoming, making first-party data collection much more valuable for every organization. The challenge is finding ways to integrate safe, effective first-party data collection methods into your overall 2023 strategy.
One simple way to do that is by harvesting data right on your own company website. Identity resolution provider Retention.com highlights what it calls "abandonment revenue" - that is, the potential profit you lose when customers anonymously browse, research, or abandon carts on your site.
This has led to the rise of identity resolution software. The comprehensive data collection solution involves a quick script installation onto a website. Once integrated with your tools, it can seamlessly collect first-party data whenever people drop by for a visit.
2. Make the Most From Customer Interactions
Along with comprehensive software solutions, there are often many areas of data potential located throughout a brand's everyday interactions with its customers. For instance, Data Quest points to well-designed surveys as one of the easiest, most effective ways for businesses to garner targeted customer data.
But the buck doesn't stop with surveys. There are other, less direct ways to collect data that you shouldn't ignore.
You can create customer accounts, ask visitors to select preferences, and request email sign-ups. This can happen automatically when someone visits a site as well as on the back end of a purchase through a customer service interaction. Either way, use the opportunity to collect information and hone the customer experience.
3. Consider the What, Where, and How Behind Your Data Collection
Along with the way you collect data, you also want to consider why you're collecting it. Data acquisition platform Narrative points out that if you want to glean valuable insights from your data, you need to be purposeful about the process.
What data do you need? Where can you get it from? How will this new data influence and improve your existing data? Answering questions like these will give your 2023 data collection strategy better focus and efficiency.
4. Follow Best Data Collecting Practices
Finally, remember to maintain an honest and transparent data collection policy throughout your data collection efforts. This is more than a legal concern. It cultivates customer trust and encourages consumers to willingly volunteer first-party data in the future.
Start by setting up well-defined data collection practices and principles for your company to follow. Data-focused blog Any Instructor lists several of these, including considering privacy standards, preserving data security, and setting up a data governance plan.
Establish trust, minimize risk, and show consumers how they'll get value from a data exchange. These send the message that you're committed to handling your customer data with care.
Collecting Quality Data in 2023
Data collection experts need to evolve if they want to stay at the forefront of the industry. In 2023, this is going to require a nuanced and respectful strategy that focuses on first-party data.
Use identity resolution software and customer interactions to harvest first-party data directly at the source. Clarify your goals by asking important questions about what you're trying to accomplish. Establish clear best data collecting standards for your company to build consumer trust.
If you can put in the upfront effort now, you can go into 2023 with a solid first-party data collection strategy in place. This will give you an edge as the analytics world adjusts to the rapidly evolving data landscape and prepares for a third-party-data-less future.
