DECLARED DATA

The Power of Data

Personalisation is a core value in digital marketing, but the reality never really caught up with the promise. With the growing power of consumers shifting from brand to individuals we are now getting closer to fulfilling this promise.

The goal of personalisation is to use data to make it easier for customers to find and consume what they want, how and when they want it. Personalisation dynamically interprets an individual’s intent and uniquely tailors communications and experiences to help them achieve that intent as quickly, easily, and pleasantly as possible, across digital and physical touch points, at scale.

Inferred Data

Personalisation strategies have traditionally originated from looking at inferred and observed data to work out interests and intents of consumers. Inferred Data, as the name implies, is data developed around the user without their express input, systematically generated based on search histories, content consumption, purchases, and social media activity.

Marketers track cookies, drop pixels, and craft segments in an inexact effort to target the consumers they want to reach. Profiling based on datasets from data brokers that contain large amounts of inferred data, may make your marketing efforts worthless.

This type of data, may be useful in certain cases, it however doesn’t carry the same value as Declared Data as it is based on a series of assumptions and provides only half the story.

Declared Data

Declared data, on the other hand, is data gathered directly from consumers themselves through self reporting; where self-reporting can take on a variety of forms. Whether it’s rating something on a Likert scale or filling out an opened ended questionnaire or recalling behaviours in the form of a diary – any type of data collection that is acquired through self report is considered declarative.

To have a personalized conversation with consumers marketers don’t need to have hundreds of data points. They need to take a step back and think about what are the most important data points they really need.?

Declared data, also known as Zero- and First-Party Data, is considered the most accurate customer data to deliver personalisation at scale because it reflects on current consumer experiences and provides insight into consumer intent. With declared data marketers rather than relying on perceived or inferred information are directly asking consumers, who are intentionally and proactively sharing in return.

Consumers are open to share personal data with businesses when they receive better experiences. Businesses must in exchange be transparent about how they collect and use the data. Declared data really is based on concepts of Privacy and Value.

Value Exchange

A decade ago, the idea that consumers would expect to get value from sharing their data with companies was unheard of. But times have changed rapidly.

Now the agenda is ‘what’s in it for me?’ and ‘what does this value exchange look like?’ The data value exchange isn’t just about the content of the ‘reward’ or the ‘deal’; it’s just as much about relationship, trust and the process.

To collect the data required to power true personalisation, consumers need to be entertained, engaged and receive something in return for their attention and preference data.

Creating engaging experiences that build trust in the way data is used is the best way to encourage consumers share their personal data.

Bottom Line

Since the dawn of mass-media marketers have been looking for ways to reach customers directly. Declared data campaigns allow marketers to reach that once far away goal by talking directly to a verified person.

By collecting self-declared data marketers now have the opportunity to drive results without relying on guesswork.

Marketing campaigns, driven by self-declared data reach people that marketers know are interested, making it easier not just to drive one-off actions but to engender long term customers.