1st 2nd 3rd Party Data- What's the Difference?

First, Second, Third Party Data WHAT'S THE DIFFERENCE? is a buzzword these days DATA every WANTS body |IT every HAS body | IT BUT most of us have no idea exactly how many types, sizes, and uses comprise DATA Let's Start with the Basics: 3 Classifications of Audience Data You can buy data from on a large scale for a price 3rd. %24 $ 50 - 500 -5.00 aka Data Aggregator per CPM (cost per mille) You pay a broker A in exchange for data collected from many OF ONLY Marketers 44 broad sources plan on increasing their use of Third-Party Data in 2015/2016 Pros Cons • Lots of data • Easy • Competitors could have the same data • Third-party data cannot be validated • Quality widcly varies • Consumers like privacy 93/ say that being in control of who can OF Adults get information about them is important OF 2nd Marketers plan on increasing their use of Second-Party Data in 2015/2016 Trade data sets with а рartner 1st-party ist-party A В Trading Data Pros Cons • Another party does a data search for you • Pay for your information and give up your first-party data • Limited availability (less work) • Likely accuratc and If it's not your ist-party targeted because from it's one source (through partnerships) data, and it doesn't come from imany different sources for a price (3rd-party Example 2 sets of data), then it is most likely Partners with 2nd-party data %3D Clothing Designer Watch Maker Audience Data Collected from: Existing Marketing Campaigns Website Analytics Platforms | CRM Systems Site Registration| E-mail st your own data straight from the most valuable source: OF your customers Companies First-Party Data Pros Cons • Data is uniquc to • Must have knowledgcable staff or data management your company • First-party data is not regulated by platform to collect and the government • Free interpret first-party data • May have limitations in scale and depth A few companies that use it: amazon.com Google Zappos It's accurate, and it's YOURS •comO POWEREDDYSERVICES Quaero is a leading data management and analytics company. The company's flagship platform, Quaero AdVantage"", allows companies to use first-party dala to drive ad sales, paid content, and econmerce reventie. The company works with some of the most recognized brands within the media and consumer products industries. f 8+ quaero in www.Quaero.com