In our conversations with numerous business owners, we’ve come to understand that while most acknowledge the importance of marketing and advertising as long-term strategies, many still desire immediate, effective solutions to bring in business.
Throughout these talks with businesses at various stages of growth, we’ve identified a common overlooked asset that can stimulate customer engagement. It’s simple the list of past customers or clients. This list, your first-party data, is an invaluable resource that you own and can deploy to your advantage.
Types of Data Businesses Can Collect
First-Party Data
This is the information you gather directly from your own audience. It comes from your website, emails, forms, apps, or customers who buy from you. Since people are choosing to interact with you, this data is the most accurate and trustworthy.
Second-Party Data
This is someone else’s first-party data that you get through a partnership or agreement. For example, a hotel and an airline might share data to better understand travelers. It’s reliable because it still comes straight from real interactions, just not your own.
Third-Party Data
This is information collected by outside companies that don’t have a direct relationship with the people in the data. They gather it from many sources and sell or share it with others. It can be useful for reaching larger audiences, but it’s usually less precise and faces more privacy limits today.
This data typically includes basic customer information such as name, address, phone number, email, and birthday. There are several strategies for leveraging this data to your advantage.
Most small businesses have a fair amount of first-party data. However, we find that many aren’t using it effectively or worse, not using it at all to grow their business.
5 Ways To Use Your First Party Data
Email Marketing
A simple yet effective way to reach out is through monthly emails. These need not be lengthy; a brief overview of your recent activities or accomplishments will suffice. For instance, a landscaping company might include before-and-after pictures of a recent project.
Direct Mail Marketing
Mailboxes aren’t just for bills. Engage your former clients with flyers, newsletters, and coupons. For example, as a lawyer, you could remind past clients about the breadth of your practice areas, or share about any new areas you’ve ventured into.
Online Retargeting
Many digital marketing and advertising platforms allow you to retarget your customers and similar profiles using their email list.
Retargeting on Streaming TV
This strategy involves placing ads on your clients’ TV screens. Being on a larger screen can often create a more significant impression. A commercial doesn’t have to cost you an arm and a leg – a budget of $500-$1000 can result in an effective 30-second spot.
Phone Calls
Don’t underestimate the power of a personalized phone call. A simple check-in can often lead to renewed business. Designate a member of your team to connect with 10-15 former customers each day.
Get Organized About Collecting and Managing Your Data
We’ve worked with a lot of small businesses, including many that have been around for years and served hundreds, sometimes thousands, of customers. Yet when we talk to them about their first-party data, it’s often scattered, incomplete, or sitting in different places on their computers.
There’s really no reason not to take the time to create a simple, consistent process for collecting and organizing your first-party data. Your “list” should grow not only with customers but also with anyone who shows interest in your business. Over time, that list becomes one of your most valuable assets.
If your customer data is all over the place or you’re not sure how to start building your list, we can help. At OEPMA, we’ve guided small businesses through creating list building and organization systems that actually make sense and work long-term. Schedule a free 30-minute consultation and let’s talk about how to get your data organized, your list growing, and your marketing machine running smoother than ever.
