Looking for the best places to get the data you need? We’ve done some of the digging for you. Whether you’re looking for data about your own company or you need statistics or industry data, we’ve got some great places for you to start your search. Read on for more information on how to find first, second, and third party data that can start benefiting you today.
First Party Data
Image via Flickr by luckey_sun
First party data is easy to get because you are storing it and you own it. This is information you get from yourself and it is mostly free. The costs you incur are those for the storage and management of your data.
This first party data reveals information about your customers. It tells you their behavior and their interests. You can see what they buy and when. You can see names, phone numbers, emails, and addresses. You can see how they interact with your site and your app. There are more places than you may think to get data from that tells all about your customer.
Places you can get first party data include your:
- Subscription data
- Loyalty program/rewards data
- Social media data
- Web traffic
- Customer feedback
- Mobile app data
You can also use platforms such as Google Analytics and Adobe Analytics for specific website analysis.
Using the internet and different platforms to help grab your first party data is a simple route to take, however, you don’t want to overlook something even closer, the people around you. The different departments of your company can help you grab a ton of great information such as that from sales and leads.
First party data is valuable because it is accurate. You don’t deal with cookies. You don’t worry about privacy laws and concerns. This is data you own and you’ve been given permission to use.
Second Party Data
Second party data is another company’s first party data that you get from that company. One of the great things about second party data, like first party data, is you know it’s high quality and accurate.
Unfortunately, unlike first party data, second party data typically isn’t free. However, when purchasing second party data you know exactly what you’re getting. You can set specific parameters on what information you need. You go directly to the source and can negotiate instead of going through someone else who aggregates this information.
Because second party data is directly from the source, that’s one of the best places to get it, from the source. Don’t be shy about asking. In the quest for second party data, great partnerships are made. A partnership is a two-way street that does require some give and take, whether that’s in monetary form or more data, but the partnerships that are formed can be powerful and beneficial to both sides.
Another difference from first party data is the issue of privacy, so tread carefully when you’re entering the search for second party data to make sure any and all compliance is met. For example, users need to be able to opt out before their information is shared with another company. For this reason, it’s recommend your data sharing partner is a trusted one.
Third Party Data
While first and third party data are specific, providing you the exact information you need down to the minutia, third party data is a much broader category. The benefit of third party data is it gets you in touch with information that isn’t as biased. The information is about people who may not be your customer. They may not interact with your brand. There’s a much farther reach, which can be helpful when you’re trying to increase your visibility.
One of the first places to get third party data is a data broker. A data broker buys and shares information. As of late, data brokers are getting more controversial, as people are finding out that a lot of companies know more about themselves than they do. However, allowing consumers to opt out of their information being shared is a step in the right direction. Some of the large brokers allow for this.
The big data brokers include:
- ID Analytics
Another great source for third party data is a DMP, or a data management platform. Some great examples of companies providing DMPs are:
- Aggregate Knowledge
A DMP holds information it gathers from different sources. According to Gartner, DMP collects that information through onboarding, tags, and APIs.
If you’re looking for a less expensive option you can more or less attempt yourself, try your hand at using AdWords.
Smaller Scale Data
If you’re looking for data without going through an agency or doing too much legwork, for example, if you need some accurate statistics to help you out on a project or your content, paid subscription services are a wonderful resource.
The cost of a paid subscription service that allows access to hard facts on many different topics is worth it, as you never know when you’ll need to back up your claims.
Some great sources for this information are:
- IDC (International Data Corporation)
- Qlik DataMarket
Of course, you don’t always have to pay for information. There are plenty of places you can find great information for free.
Having quality data is important. It’s something that can make or break you. Publishing inaccurate content or providing false information is a big no-no and will quickly paint you as untrustworthy.
Utilizing all the types of data available to you is a great way to push your business’s marketing efforts further. Don’t miss out on simple opportunities to enhance your content, especially when first party data is so readily available. You don’t need to spend a fortune to gather data that will help your business. All it takes is a little effort.