Display Remarketing with Second-Party Data
Display remarketing for affiliate marketing ensures better ROI than trying to pursue only new customers every time. It also prevents brands from becoming a reason for inconvenience of people who don’t need their service or product.
Let’s create a situation; you are preparing a presentation in mid-night instead of sleeping comfortably because you have to present it in office tomorrow. You are trying to complete it as soon as possible so that you can get enough sleep since you need to look fresh and energetic as well.
But, some pop ups and pop under appear suddenly when you want to search some data and figures to include in your ppt. This is the time when unwanted ads lead to the inconvenience of the customer. Both advertisers and customers suffer here because customers waste their precious time in closing the ads and advertisers don’t get any conversion rather they observe deterioration of brand’s reputation.
What is Remarketing?
Remarketing escapes brands from getting in such situation because remarketing means promoting or advertising products or services to the people who have already shown their interest in the same. Imagine you know the people who are looking for the products or services you are selling so, targeting them ultimately increases ROI and saves on the efforts you waste in targeting the people who don’t or can’t buy your product or services.
What is Second-Party Data?
Marketers commonly use two terms first-party data and third-party data. But Second-party data is still not very commonly used. It is basically the first-party data received directly from another source. The picture will get clearer after reading the methods of collecting second-party data.
How to collect Second-Party Data?
Using Data Management Platform (DMP)
Since second-party data is collected through other sources it can be publisher’s data that is collected in two ways – on page or from the Ad networks in India. The data collected is linked to every other data point available. By facilitating these links DMP makes data targetable and allows advertisers to use this in DSP (Demand-Side Platform). It is the first-party data of publishers that is made available directly to advertisers becomes second-party data for them.
Collect data yourself
Other method is collecting data oneself. By using tag managers and cookies advertisers can retarget the customers who come to their websites through publishers. They can also ask their partners to put their retargeting pixels on their websites and the pixel fires when it matches the criteria.
Using Master Cookies
Having own DMP to collect data is very expensive so instead of having your own DMP you can purchase the facilities of DMP from others by choosing a shared cookie environment. You will collect your data yourself by taking the help of a third-party.
Benefits of Remarketing with Second-Party Data
Second party data is more reliable than third-party data and holds the capacity to fetch higher CTR than third-party data. Since third-party data you have bought from someone else where you have no idea of the behavior of customers.
Provides good competitive value
As everybody in market is not using second-party data to target customers so you will have the plus point over them. Your efforts of collecting second party data and remarketing with it will bring positive results certainly.
Advertisers get new potential audience
One thing is pretty much sure with second-party data that relevancy of the audience for products or services of the advertiser is high. Therefore advertisers find new potential customers.
Improved performance of retargeting campaigns
Second-party data is hard earned data that you have collected through reliable sources ensures that audience is interested in your product or services. It increases the CTR and conversion rate thereby having improved performance of retargeting campaigns.
Brands have always hunted for tips to retarget customers. Collecting Second-party data is beneficial in anyway however it’s a bit difficult but doing something different like display remarketing with second-party data certainly brings positive results and provides an competitive edge to the businesses.