Past objections to second-party data have since been addressed, making now the perfect time for marketers to leverage that data as part of a holistic data approach.
The benefits of second-party were highlighted in a panel session at the iMedia Commerce Summit, featuring moderator Bob Scaglione, senior vice president of strategic channel development at OwnerIQ, Kevin Lyons, senior vice president & general manager of eCommerce at H.H. Gregg, and Tim Trus, director of search & media at Rosetta.
While first-party data uses advertiser's own cookie pool to "re-market" or "re-target" visitors once they go to their ecommerce website, third-party data involves purchasing packaged audience segments from third-party data aggregators, Scaglione noted.
Then there's second-party data -- someone else's first-party data.
Forrester analysts suggest that "second-party data provides more reach than first-party and more granularity than third-party."
Common objections to second-party data have been addressed, assuring marketers that data won't be used by competitors, doesn't mean you no longer have control of your data, is a strong value for the investment, and is now scalable.
There are opportunities for retailers and brands to take advantage of this new targeting to reach their shoppers.
Lyons, who runs ecommerce for consumer appliances and electronics store H.H. Gregg said, "Having the... Read more