While the demise of cookies may have expedited the shift to zero-party data, consumer demand is driving its adoption. Privacy and personalization are key concerns for consumers, and zero-party data delivers both.
Typically obtained through interactive experiences, opt-in forms, or consumer surveys, zero-party data comes directly from consumers. It can include explicit information, such as purchase history and preferences, and implicit information inferred through behaviors and interactions.
As zero-party data is provided voluntarily, it affords marketers an unrestricted view of consumer needs and preferences, facilitating long-term relationships and loyalty.
For digital media buyers using programmatic demand-side platforms (DSPs) such as MediaMath, The Trade Desk, and Google DV360, zero-party data is a game changer. These platforms rely on data to inform targeting and optimization decisions, and zero-party data provides a more nuanced and relevant understanding of consumers.
For example, a digital media buyer using a DSP may target a specific audience segment based on third-party data indicating a certain affinity level for a particular product or service. Zero-party data, however, offers a self-reported accounting of an individual's interests and preferences, allowing the buyer to create more personalized and effective campaigns.
In addition to its benefits for targeting and optimization, zero-party data can also help digital marketers overcome the challenges posed by the phasing out of third-party cookies by 2024. Businesses must find alternative ways to gather and use audience data. Since zero-party data is obtained directly from consumers and can be used with their explicit consent, it provides a more privacy-sensitive and sustainable solution than its predecessor.
Digital media buyers can leverage zero-party data in various ways, such as creating interactive experiences or opt-in forms on their websites or social media channels. Through these tools, explicit information like purchase history and preferences can be collected, as well as implicit information inferred from behaviors and interactions.
Another option is to use marketing automation tools that allow businesses to collect zero-party data through email opt-ins and other direct communication with customers. Marketers can use these tools to segment and analyze zero-party data to better understand their audience and tailor their marketing efforts accordingly.
Zero-party data is the future. By putting consumers back into the equation instead of just focusing on their digital breadcrumbs, digital media buyers and marketers can usher in a new era of personalization resulting in more effective campaigns and increased brand loyalty. In the wake of the highly anticipated end of cookies, embracing zero-party data now and incorporating it into targeting and optimization strategies gives digital media buyers the tools to position themselves for success in a post-cookie world.
This blog post was originally published on MediaPost.
The U.S. celebrates National Hispanic Heritage Month each year to recognize the influence, culture, and contributions of Hispanic Americans. One generation is blazing a trail and breaking convention – Gen Z. An area in which we see a tremendous impact by this demographic is employment. The U.S. labor force is shifting toward younger workers who favor the trending "work from anywhere" concept. But it's not just their job philosophy that differs from traditional ideologies. Gen Z's consumption habits differ from other generations and will likely evolve as they age. ThinkNow surveyed more than 1,400 Hispanic Gen Z to determine where these differences lie.
About 8.3% of respondents stated earning a salary between $50K-$60K, with 6.7% stating they make between $40K-$50K. Nearly a quarter of respondents are still in their undergraduate careers, so it's no surprise that 40% said they live with their parents/family.
Gen Z is likely listening to the radio while driving to work. Fifty percent of Gen Z listen to AM/FM radio, with 63% listening on traditional radios (not streaming services like Sirius XM, iHeart, or Pandora). For advertisers, this presents a cost-effective opportunity to reach this demographic through a channel competitors may be ignoring.
When they are not listening to the radio, they watch their favorite programs. Sixty-six percent of Gen Z responded that they spend 0-4 hours per week watching Spanish-language TV programming. Nearly 70% of respondents stated they watch Netflix programming. As a bonus for advertisers, 60% of respondents stated they don't listen to top Spanish or Latino podcasts. Redirect that spend to channels more native to this generation.
Finally, we often see Gen Z calling out injustices around the world. But a surprising 83% state they're optimistic about the future. Perhaps that's because they feel empowered to be the change they want to see in the world. Three-quarters stated being satisfied with their current life, and less than one in five responded feeling their life is at least somewhat worse off than their parents'.
Gen Z is on track to fundamentally change the work environment and social norms.
Want more Gen Z facts? Get on-demand audience insights with ThinkNow ConneKt.
Even though the sunset of cookies by Google has been pushed out by another year to 2024, marketers are still looking for alternatives to reach their customers online as third-party cookies have helped agencies create targeting for their ad campaigns for over a decade. More and more agencies have begun to look for a replacement, specifically, zero and first-party data.
Another more important trend that has coincided with the sunsetting of cookies is the rise of the multicultural consumer in the U.S. According to the Brookings Institution, “nearly four of ten Americans identify with a race or ethnic group other than white and suggest that the 2010 to 2020 decade will be the first in the nation’s history in which the white population declined in numbers.”
Furthermore, “The unanticipated decline in the country’s white population means that other racial and ethnic groups are responsible for generating overall growth.”
The sunset of cookies and the rise of the multicultural consumer in the U.S. puts digital marketers at a turning point, making zero-party multicultural data an imperative rather than a nice-to-have.
What is zero party data?
The term zero-party data was coined by the market research firm, Forrester. Zero-party data refers to data that is voluntarily shared with companies and organizations via surveys, online forms, online applications, polls, etc. Often times respondents are incentivized to share their data through cash, sweepstakes, or other types of rewards, but sometimes respondents share their data for a chance to just share their opinions.
Zero-party data is arguably one of the most accurate forms of data as it comes directly from customers. By directly asking consumers what their opinions and preferences are, marketers are able to better tailor their marketing messages and create a two-way relationship with customers. This also enables better product recommendations as marketers aren’t making assumptions based on cookie data, but rather asking customers directly the types of products and services they are interested in.
Who are multicultural consumers?
The word multicultural can be confusing as it literally means many cultures. In the context of marketing, multicultural means non-Hispanic White consumers. This term is also most commonly used in the United States as other countries look at race and ethnicity differently. The most common audiences the term multicultural refers to in the U.S. are Hispanic, Black, Asian, and increasingly Indigenous, and Mixed-Race audiences. Multicultural is also starting to encompass audiences beyond race and ethnicity to refer to LGBTQIA audiences and Disabled audiences.
What is zero-party multicultural data?
It’s a term coined by market research company, ThinkNow and refers to the intersection of zero-party data and multicultural consumers. As the U.S. becomes a multicultural majority, the need to authentically reach multicultural consumers is a business imperative. Connecting authentically with multicultural consumers is difficult to do with the current digital marketing tools available. But zero-party data can help. By asking multicultural consumers their identity, preferences and cultural touchstones directly, digital marketers can now craft culturally sensitive online campaigns that avoid stereotypes.
The rise of zero-party data comes at the perfect time for marketers as identity is at the forefront of what is important for multicultural consumers.
This blog post was originally published on MediaPost.
As disparities in pay exist on the basketball court and soccer field, female pro gamers in eSports also contend with pay inequity in the virtual space. That lack of parity is showing up in real-time in their household income. In our study of nearly 1,000 respondents who identify as pro gamers (extremely serious about playing, participate in competitions), about 30% are female. Among them, female pro gamers reported a total household income of less than $10,000, while male pro gamers reported a total household income greater than $150,000. This reporting is interesting because the most reported industry in which they work is IT/Programming.
When asked about their future, 65% of female gamers responded feeling optimistic compared to 83% of their male counterparts, yet the disparities continue into the fintech space. Only 62% of female gamers stated they held cryptocurrency, versus 87% of male gamers stated they held cryptocurrency. When comparing credit scores, 63% of female gamers stated having at least good credit scores compared to 88% of male gamers. Half of female gamers stated having enough money set aside for a rainy day, while three-fourths of male gamers stated having enough.
Digging a little deeper into the types of games played by female and male pro gamers, we found some curiosities that may be fueling the disparity, such as the platforms female gamers most commonly use. Our data shows that female gamers responded highly to playing puzzle/word or number games while male gamers responded highly to playing fighting games. Fifty-one percent of female gamers said they played on a mobile device, while 59% of male gamers said they played on a console such as a PlayStation or Xbox.
But that doesn’t explain why female pro gamers who play competitive eSports and compete in tournaments like The International Dota 2 games experience a lower earning capacity than their male counterparts. Female gamers deserve better, not just because they are women but because they have earned it. Just ask Nadrah Saufi, who, along with her teammates, made history for being the first Commonwealth eSport Championships (CEC) Dota 2 Women’s Division gold medalists.
People with disabilities don’t want to be defined by the stigma of being differently abled. By celebrating people for who they are and adapting experiences through their lens, we get the privilege of seeing how they shine. ThinkNow ConneKt surveyed over 500 people with disabilities who identify as Non-Hispanic White, Hispanic, and African American and discovered these amazing stats. (more…)
People who have been on a Zoom call with me can undoubtedly tell that video games greatly impact my life. Having been an avid gamer since the Atari 2600 days, I have seen the gaming world evolve over the years. According to IDC Data, what was once thought of as a kid-friendly pass time has matured, posting revenue that rivals the movie industry and North American sports combined with a whopping $180 billion in global sales in 2020. (more…)
When it comes to women's rights, the U.S. has come a long way. It’s hard to believe that just 100 years ago, white women received the right to vote. The ability to vote and have their voices heard impacted several facets of politics and the economy. It wasn’t until 1965 that all U.S. citizens were granted the right to vote with no restrictions. However, women are still fighting for equality in many different areas of their lives, including their finances. (more…)