The main difference between first-party data and other forms of consumer information that is traded online, is that first-party data has been consented.
Meaning, on the issue of data privacy, the consumer has personally agreed and shown interest to share their information and other details in order to learn more and hear from your brand.
First-party data has been growing in importance for businesses worldwide, especially so the past year with a shift away from traditional bricks and mortar stores to e-commerce. With the removal of third-party data from various marketing platforms and the growing consumer privacy concern, businesses are re-evaluating and prioritising first-party data, to bridge the physical to digital divide and regain visibility on their consumer.
How to maximise your marketing investment
Due to the increasing complexity, the next best alternative for digital advertising would be marketplaces, social media platforms and focusing on contextual ads which are becoming increasingly expensive and still leave your costly product packaging dumb.
3rd party data, contextual advertising or paying for marketplace sponsored ads, are essentially ‘paid media’. Businesses would quickly find that at the end of the day, all these different types of advertising still don’t bridge the physical to digital divide to their end consumer and make it cumbersome to measure the ROI on the marketing investment.
Businesses still heavily rely on rented spaces, or 3rd party platforms for the success of their business. While at the same time, advertising costs are on the rise and social media organic reach and engagement are becoming more limited.
There are three main types of media: Paid, Owned, and Earned media. The only type of media that businesses have full control over is owned media. And first-party data is at the heart of owned media. Customer service, consumer care, upselling, cross-selling, re-activations and membership systems are all essentially part of first-party data.
Digital marketing and advertising costs continue to rise. YPB Smart Packaging is a low cost marketing channel.
How YPB Connect can help with engagement
First-party data is collected from various sources, such as in-person store surveys, signing up for membership or subscriptions to the next promotions and discounts. Sometimes even through complaint forms and filing, the YPB Connect platform is your one stop shop solution for just this.
From a marketing perspective, first-party data is not just data, but reflects on the value of that data as well. At the very moment when consumers engage with your brand, they have the power to consent to the use of their information creating a one on one relationship to build upon and bridge that physical to digital divide.
What is YPB Connect?
YPB Connect is a next-generation cloud based QR code technology platform that can generate serialised QR codes for your brand to either print or apply them onto product packaging at scale. Every QR code generated has an optional matching authentication PIN code making it more difficult for counterfeiters and deter them from targeting your brand. YPB’s platform can help identify replicates of the QR code and identify possible counterfeit locations through Connect’s algorithms and geotag monitoring system.
YPB’s serialised QR codes and smart packaging offers more than brand protection, but the opportunity to engage consumers, gather first party data, and discover valuable consumer insights. YPB Connect can help build that moment of trust. See the YPB brand protection suite to learn more about Authentication with QR Codes and YPB Smart Packaging Solutions.
What’s extraordinary about the YPB Connect platform is more than about how efficiently consented and engaged data is collected, every time a consumer ‘connects’ with the brand, it is through mobile scanning of the product packaging to engage learn more or authenticate. For example: think authenticity, think brand A. Or: think of getting the next discount or filing a complaint, think brand A.
Valuable audience insights can be discovered with YPB Connect
Benefits of YPB Connect
• Decreased marketing costs: a cost-effective way to capture valuable 1st party data when compared to other digital marketing channels such as Facebook and Google.
• Brand protection and authentication with serialised QR codes.
• Customisable campaigns: create and design campaigns that best fit your consumer and audience.
• Analytics and reporting tools: gather valuable consumer insights for planning your next marketing campaign.
• Compliant with data privacy laws pertaining to the region of the campaigns
• The Connect platform is ideal for:
o Marketplace sellers who do not want to maintain a website.
o Brands who do not want to sell directly online.
o Brands who sell in physical stores.
The divide is now sharper between those that have first-party data and those that do not. Learn more about YPB Connect and YPB’s Brand Protection Solutions here.
