You’ve probably heard of three types of data: first-, second-, and third-party data. First- and third-party data are the ones you hear about most, but second-party data is starting to make itself better known.
First-Party Data, and Why does it Matter?
A simple explanation of first-party data is that it’s the data you own and collect yourself. At MLive Media Group, our first-party data is collected on mlive.com around actions taken by individuals who are browsing the site—reading articles, writing comments to articles, searching auto or real estate listings. Through our MLive website, we have a direct connection into how the data was collected, deeming it more reliable.
Second-party data is gathered directly from another site (i.e. their first-party data). MLive Media Group is an affiliate of Advance Local, which is owned by Advance Publications, giving us access to the information gathered on all of the Condé Nast sites. Our first-party data comes from our own site, mlive.com. Second-party data is data collected by Condé Nast, which we get directly from our affiliation with them.
Third-party data is captured based on alternative vendors, such as an advertising network. There are many varieties of third-party data, such as actions observed on another site, offline data based on purchases made at the grocery store, voter registration, automobile registration information, etc.
As a marketing organization, our goal is to serve relevant ads to your customers based on their interests. Data gives marketers—you—the ability to do exactly that. Take advantage of how all of this data can benefit your business!
Think about who your customer is. Someone has data available to help you target those individuals. And the answer might be easier to find than you expect.
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