There are a variety of different types of data that PPC campaign management services can utilise to drive outcomes that deliver solid return on investment (ROI).
Let’s delve a bit deeper into this powerful form of data and explore how it can be applied to pay-per-click (PPC) advertising strategies to drive meaningful results.
First-Party Data Defined
First-party data is data collected by a business about its customers. This valuable information is compiled using systems and software owned by the business, and typically includes everything from individual digital interactions to behaviours, preferences, and purchase history. This information is then used to inform the creation of advertisements, experiences and content to ensure that messaging will cut through the online noise and reach the right people, in the right places, at precisely the right times.
As an example here, a business may use purchase history data to create a targeted advertisement designed to be delivered to an individual customer and prompt a further purchase. This could be in the form of a general discount code or a product-specific offer.
If you have ever spent time researching a product online only to find that you keep seeing adverts popping up in banners everywhere you go online, then you have seen first-party data at work.
The Potential of First-Party Data
Marketers have relied heavily on third-party data in an attempt to connect with prospective customers and for good reason. It is, after all, an approach that can deliver beneficial outcomes. But third-party data is less useful for marketing to customers that are already known to a business, which is where first-party data comes into its own.
– First-Party Data Drives a Higher ROI
The most experienced PPC campaign management services understand that it is far more profitable for a business to retain existing customers than it is to connect with new customers. Plus, repeat customers are also more likely to spend more with a brand. However, without the right technologies to leverage the full potential of first-party data, too many businesses have been relying on third-party data resources to plug the gap.
Yes, third-party data can help to enrich acquisition tactics but it doesn’t have the ability to illuminate the route a customer takes to making a purchase.
– Third-Party Data is Free, Fresh and Reliable
Not only is third-party data often costly, it can also be difficult to determine its accuracy and quality. Nurturing connections and driving conversions in today’s modern marketplaces isn’t easy, which is why it is important to leverage the full potential of first-party data when creating targeted, personalised experiences that will appeal to a specific audience, drive loyalty, and improve customer retention.
Improving PPC Strategies with First-Party Data
First-party data can be used in a variety of ways to enhance PPC advertising strategies. Let’s look at just a few in a little more detail.
– Maximising PPC Budgets
Integrating an audience list into an ad group or an individual campaign can significantly increase ROI by ensuring budgets stretch as far as possible. By taking this simple action, the smart bidding algorithm benefits from an indicator which emphasises how important this particular list of users is. Ultimately, more aggressive bids will be placed whenever these users are searching, thereby improving the chances of making those all-important re-connections at the right times.
– Influencing Bidding Strategies
First-party data can be used to effectively complete post-campaign analysis which will allow for future refinements based upon how the strategy actually performed and what its impact was on the business.
– Expanding a Targeted Audience
Google Customer Match allows advertisers to directly target individuals, which is a functionality that has also been adopted by the likes of Twitter’s tailored audiences and Facebook’s custom audiences. We’ve already touched upon the fact that consumers who are familiar with a brand are more likely to convert. So, this tactic allows businesses to leverage display advertising to expand their reach by targeting individuals who share similar characteristics to existing customers.
Why Work with PPC Campaign Management Services?
The most experienced teams understand how to drive learnings from first-party data and apply them in innovative ways that will help your business to connect in meaningful ways with your audience. Customer data can improve your understanding of the whole customer journey, however, it is imperative to understand how to collect, audit and analyse your first-party data to make the most informed strategic decisions at every step.
