Second-Party Audience Data
The Ultimate Guide to Second-Party Audience Data 2021
What is Second-Party Audience Data?
Second-party audience data is the kind of audience database that is collected by an organisation that they then sell to your brand to use. Actually, second-party audience data is another company’s first-party audience data. It is your business’s responsibility to develop relationships with these companies to get their data. Second-party audience data is very powerful as it adds more depth and range to first-party data. With it, you gain new audience insights that you can’t get from your first-party audience data alone. While first-party audience data helps you know more about your current customers’ concerns, decisions, and behaviors, second-party audience data does the same for potential clients you should consider targeting in future because their profile and intent signals indicate that they’re be interested in your products or services.
How is Second-Party Audience Data collected?
Second-party audience data is collected by taking it from somebody else. You can gather second-party audience data by partnering with another company that shares your goals. Since both your interests are aligned, exchanging data will only develop your customer service and marketing purposes. The easier way of collecting second-party audience data is to simply purchase it. However, it must fit your business’ audience and products. So, if you are going to buy second-party audience data, make sure you get a preview of the data it contains so you can ensure it’s relevant to your company.
What are the attributes of Second-Party Audience Data?
The major attributes of second-party audience data include:
- Behavioral second-party audience data: This type of data is comprised of behavior patterns, like consumer loyalty or engagement level. Behavioral second-party audience data is used to get insights into consumer experience, allowing for advances in customer success. This is specific to client interactions with a brand or company. Other behavioral segmentation variables can cover:
- The benefits solicited from product or service.
- Willingness to buy or purchase.
- Usage-based segmentation.
- Common features.
- Psychographic second-party audience data: It is the type of client segmentation that concentrates on personal or qualitative traits. Psychographic segmentation variables can cover:
- Hobbies, affinities, or interests
- Values or ideas
- Personality or character
- Social situation.
- Demographic second-party audience data: Demographics second-party audience data is the analysis of your client personas in the market for cursory features like age or gender. These features offer essential information on your customers and are often thought one of the more broad second-party audience data types. Examples of demographic segmentation include age, earnings, family size, background, or gender. Other demographic segmentation variables can cover:
- Matrimonial status
- Political party preferences
- Geographic second-party audience data: Geographics are the study of your client based on their physical location, which can affect more physical communication in the market, including location-based marketing. Consumers classified together in similar locations may share similar preferences. That’s why this type of second-party audience data is great to pair alongside more abstract types, like behavioral.
Geographic segmentation variables can include:
What is Second-Party Audience Data used for?
Marketing specialists use second-party audience data for the following:
- To know the demographic data of the audience and obtaining information like age, gender, and interests.
- To identify the audience’s preferences like creativity and entertainment, games, and fitness & health.
- To create personalized marketing information for the target market.
- To target the correct audience with proper pieces of information and improving the ROI of digital marketing.
- To analyze the data taken to reveal new insights on your audience’s behavior.
- To find an audience with related characteristics to increase your client network.
How can a user assess the quality of Second-Party Audience Data?
You can evaluate the quality of second-party audience data by keeping in mind the following points:
Source: where did the data originate?
Knowing where the audience data originates from is the first step in assessing quality. In other words, who controls the data? Even though the result is usually obvious - a second-party - knowing this is essential because it influences the level of reliablity or transparency of your second-party data.
Mechanism: how is it powered?
Another important dimension to consider when assessing second-party audience targeting data is how it’s powered, or what common technology it depends on. Does it rely on website cookies or fingerprinting technology? Or is it connected to a user ID on a closed application or program? This is critical to understand because it directly affects the security of tracking and reaching the target audience.
Methodology: how was it collected?
Another essential factor to consider when assessing second-party audience target data is the data collection technique, or how it is collected. This is necessary to know because it directly affects the precision of the data.
Who are the best Second-Party Audience Data providers?
Finding the right Second-Party Audience Data provider for you really depends on your unique use case and data requirements, including budget and geographical coverage. Popular Second-Party Audience Data providers that you might want to buy Second-Party Audience Data from are TEG Analytics, Cxense, and KD Interactive.
How can I get Second-Party Audience Data?
You can get Second-Party Audience Data via a range of delivery methods - the right one for you depends on your use case. For example, historical Second-Party Audience Data is usually available to download in bulk and delivered using an S3 bucket. On the other hand, if your use case is time-critical, you can buy real-time Second-Party Audience Data APIs, feeds and streams to download the most up-to-date intelligence.
What are similar data types to Second-Party Audience Data?
Second-Party Audience Data is similar to In-Market Audience Data, Seasonal Audience Data, Mobile Audience Data, Third-Party Audience Data, and Audience Targeting Data. These data categories are commonly used for Advertising and Second-Party Audience Data analytics.
What are the most common use cases for Second-Party Audience Data?