First-party intent data is information collected internally by a company about how its own customers interact with the brand across all of the digital touchpoints. This data can come from a variety of sources, including website visits, customer interactions, and purchase history to help companies get intent data insights, understand purchase intent better, and understand their target audience on a much deeper level.
What Are the Most Common Types of First-Party Intent Data?
First-party intent data includes information about browsing history, search queries, interactions with ads or emails, and other types of interaction data. Because these types of intent data are so highly sought after by advertisers, many companies offer special tracking tools and platforms that help to easily collect it from users.
However, it should be noted that this type of “invasive” data collection can raise privacy concerns among some consumers. Regardless, it is clear that first-party intent data offers significant benefits for marketers looking to understand consumer behavior in today’s digital landscape.
What’s the Difference Between First-Party and Third-Party Intent Data?
First-party intent data refers to information about online users’ behavior and preferences that is internally collected by a given company. Because the data was explicitly provided by users themselves, it tends to be more reliable and accurate than third-party intent data. However, first-party data can also be more difficult to collect and analyze, especially in large quantities.
Third-party intent data, on the other hand, refers to consumer insights that are gathered by external companies and then sold or shared with advertisers. This information can include all sorts of demographic details, such as age range, gender, income level, marital status, etc., as well as purchasing habits and browsing preferences.
Because this type of data is collected from many different sources at once, it can be very extensive and useful for identifying trends and patterns in consumer behavior.
However, third-party buyer intent data might also not reflect actual consumer intentions or interests due to their indirect nature.
Ultimately, both first-party and third-party intent data have distinct advantages for marketers looking to learn more about their target audiences. Each source has its own strengths and weaknesses when it comes to understanding consumers.
What Are the Pros of First-Party Intent Data?
There are a few key advantages that first-party intent data has over other types of data.
- It’s more accurate since it is collected directly from consumers rather than inferred from their behavior.
- It’s more timely since it is collected in real-time as consumers are expressing their intent.
- It’s more actionable since it can be used to target consumers with relevant messages and offers while they are actively interested in a product or service.
- It’s more valuable since it can be used to improve the effectiveness of marketing campaigns and better understand consumer needs and preferences.
Overall, first-party intent data offers a number of advantages, especially when it comes to marketing automation and content personalization, that make it a valuable asset for marketers.
What Are the Cons of First-Party Intent Data?
One of the main cons of first-party intent data is that it tends to be incomplete and unreliable. Since this type of data is collected from survey answers and online activity, it can be biased or inaccurate due to things like selective self-reporting or click-fraud.
Additionally, this data may only describe people who are already invested in a brand or product, placing a limit on its usefulness for new leads or prospects.
While first-party intent data can offer some valuable insights into consumers’ behaviors and motivations, it should be used with caution and interpreted carefully.
It’s absolutely essential to ensure that companies collect identifiable user data in a compliant manner to avoid potential legal repercussions.
Why Should First-Party Intent Data Be Enriched Using B2B Data Providers?
While first-party data can be very valuable in informing marketing decisions, it is often incomplete or inaccurate.
For example, consumer search histories may not reflect a true picture of user intent if they are skewed by browser extensions. Likewise, purchasing histories may not accurately reflect consumer preferences if products are purchased by friends or family members.
To overcome these issues and maximize the value of first-party intent data, businesses should enrich this data using reliable intent data providers.
These providers have access to a wide array of useful information about consumers, including demographic details and buying habits and preferences.
By combining first-party intent data with this additional rich data from B2B data vendors, marketers can achieve much more accurate insights into consumer behaviors and preferences and supercharge your account-based marketing strategy.