Zero Party Data, or Declared Data, is intentionally shared information straight from consumers. It is the most effective way to know and understand your target audience by gathering data they are providing.
The buzz about Zero Party data is rapidly increasing on a daily basis. Why, you ask? Simple. Experts are providing proof that Zero Party data is a major way to drive personalization efforts and have companies land major wins in the upcoming new year.
Zero Party Data, or Declared Data, is intentionally shared information straight from consumers. It is the most effective way to know and understand your target audience by gathering data they are providing. Customers are handing over their preferences, interests, motivations and aspirations. Therefore, there is little to no risk because we know the source of data, and how we attained it. For marketers struggling to make heads or tails of their data, the answer isn’t more data, it’s uncovering the right data. Zero Party Data, or Declared Data, can be the difference between meaningful consumer insights and messy assumptions.
To break it down even further, some examples are surveys, quizzes, and polls. The information collected from those examples is your Zero Party Data about your customers, you now own this information and it stays in your hands. It is straightforward, to the point and leaves no room for inferences.
If you’re wondering why the terms Zero Party Data and Declared Data were used interchangeably, that’s because they indicate the same type of data. The different terms are used for the exact same thing and you will often see them being used for the same meaning.
Asking your audience the right questions gives any marketer a huge advantage. For example, this will lead to discovering consumer demographics; such as age, gender, location etc. To go even deeper, capturing Zero Party Data gives you the opportunity to collect “soft” attributes. These are your customers' passions, motivations, interests, and preferences. Turning to a third party source for all of these answers leaves you with an educated guess, or even assumptions. So why not ask your audience instead of inferring?
No matter how extreme the evolution of marketing has become over the years, there will always be one simple rule set in stone, know your audience. Once this is achieved, you are now able to speak the same language and address their pain points, allowing you to fulfill all of their wants and needs that are desired. Zero Party Data is a win for the company as their business skyrockets, and also a win for the customer, as they obtain the exact product or service they are seeking.
If a company is able to efficiently collect and use the information they gather about their audience, they will be able to deliver next level customer experiences that leave your customer happy and satisfied every single time. After all, in the ecommerce world, data is extremely valuable and everyone's competing for it.
At Jebbit, we believe that brands who are able to collect and build their own sets of Zero-party/Declared data at scale, will be the ones who see the most success in this new privacy-first world, they are the ones who will win. This type of data is unlike any other, it holds the most value and meaning. The more you are able to uncover, the more success you will see.
How can marketers access Declared Data, and what can they do with it? Learn how brands across retail, travel, CPG, finance, entertainment, and more can collect and activate declared data at scale by downloading the Declared Data Playbook.