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What Marketers Need to Know About 1st, 2nd, and 3rd Party Data

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You may be familiar with the terms first and third party data. But you might just smile and nod when somebody starts going on about second party data. Or you may wonder which type of data can deliver the greatest ROI. Then this blog post is for you! In this post, I will break down the three types of data, explain what they mean, and help you understand the value to be gained by each data type.

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Making Sense of the MarTech Universe

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The marketing technology landscape is like the universe, vast and large. By last count, Scott Brinker of chiefmartec.com counted over 5000 marketing technology vendors. And these solutions—driven by the diverse needs of marketers and the imagination of innovative entrepreneurs—don’t always fit into nice, neat categories.

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Customer Polygamy and the Economic Impact of Loyalty

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When it comes to their relationship with brands, customers prefer to be polygamous. A recent study published by ICLP, a global loyalty consultancy, studied consumers in Australia and discovered that a whopping majority (97%) would cheat on their favorite retailer. The ICLP study, Deeply Devoted, looked at the psychological similarities between human and brand relationships and found that consumers are in less committed relationships with their favorite brands than ever before, with only 3% feeling devoted to their preferred retail brands.

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What’s Eating Whole Foods?

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Whole Foods’ business is in decline, and they want to respond by offering more discounts and lower prices. A better idea is to focus on their best customers to find opportunities for profitable, sustainable growth.

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7 Secrets to Segment Like a Jedi Master

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Every marketer has heard of segmentation. We all understand the importance of building personas and targeting our message. But very few are using segmentation to its full potential. In Star Wars, a Jedi master was someone who had the greatest mastery of the Force, someone who understood its power and could use it for good. At Custora, we work with many of the most successful and sophisticated B2C marketers in the industry. Many of these organizations have achieved Yoda-like mastery of segmentation and are seeing extraordinary performance gains across their acquisition, growth, and retention campaigns. And while each business is unique, they each share common traits.

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