SHANGHAI: Integrating multiple sources of customer data for a single customer view is key to a more effective marketing strategy, a senior Google executive believes.
Derek Kwok, Head of Data Solutions and Insights for Greater China and Korea at Google, said at Campaign Asia Pacific's recent DMA China event in Shanghai that "connecting the dots" to unify first, second, and third party customer data sources is critical.
He said failure to do so could lead to "fragmented insights", which do not offer marketers a single, unified view of customer behaviour.
(For more on Google's approach to customer data, read Warc's exclusive report: Connecting the dots: Google's guide to unifying customer data in China.)
"There are two ingredients to realise the holy grail of fully connecting and auctioning the customer journey: consistent identity across customer touchpoints, and an interoperable stack which is capable of centralising audience insights, and actioning them across multiple end points," Kwok explained.
In most cases, a marketer has access to three types of audience data. First party data (the firm's own); second party data (shared between parties in agreement); and third party data, which is bought from a platform, service provider, or even telco brands (particularly true for mobile data).
First data sources could include a company's point-of-sale data, email lists of customers, CRM data, remarketing lists and analytics data. Third party data is purchased from outside sources, such as social media or mobile identification.However, some marketers overlook the opportunities offered by second party data.
To illustrate the benefits of second party data sharing, Kwok gave an example of cooperation between China Eastern Airlines and Lancome.
The beauty brand was able to leverage China Eastern's frequent flyer program data to offer specific products, which offered UV protection while flying. In return, China Eastern's logo featured in all of Lancome's ads.
The collaboration unlocked mutual benefits to both partners while building customised audiences through more tailored data.
Both parties determined the terms of sale in advance, and the program supported publisher data monetisation and marketing partnerships.
Data sourced from Warc