💠Zero-Party Data Is Shaping the Future of Digital Experience | XS’ Issue #53
The information that a customer freely provides to a company is referred to as zero-party data.
It is not inferred from a customer's behavior on your website. It is explicitly provided by a customer, usually with the expectation that providing their data will result in a better experience.
Since zero-party data is obtained from a user with their consent and is not from any inference, it is privacy-first.
This type of data is so valuable because it's not biased.
It can be used to accurately target a customer segment with content that they will enjoy and want more of without guessing or using other types of first-party and third-party data, which may have biases.
The following are some examples of zero-party data sources that can be used for marketing activities, decision-making procedures, personalization, etc.:
Forms
Chatbots
Intent Surveys
Self Segmentation
Quizzes
The Rise of Zero-Party Data
A growing number of consumers are concerned about the security and privacy of their personal data.
They're also becoming increasingly wary of third-party data, as they don't have control over how it's used or who has access to it.
These factors create a perfect storm for brands to use zero-party data to serve customers better and grow their business.
Customers are eager to share personal information with businesses in exchange for an experience tailored to their preferences. Customers want individualized content, but they also want to choose what information is shared in order to get that personalized experience with a brand.
Leveraging zero-party data also eliminates the "creepy element" that customers often feel when interacting with a company.
Rounding Up the Stack
Each and every week, hundreds of blog posts, guides, and playbooks are written, tens of podcast episodes are recorded, and tens of videos and webinars are produced in the digital experience space.
These are the most exciting content from last week that caught our attention, and we enjoyed reading, listening, and watching:
Blog Posts
This post discusses the evolution of commerce technology and how businesses can prepare for the next shift in commerce — the adoption of Commerce 2.0 and the emergence of Commerce 3.0, which involves using composable technologies to create a more flexible and scalable ecosystem.
The security approach that has gained the most traction in recent years is the concept of Zero Trust. The basic principle behind Zero Trust is simple: don't trust anything; verify everything.
Many enterprises still rely on digital experience platforms (DXPs) despite discontent with the experience they offer. How can enterprises create a better digital experience?
Customer experience is not just a B2C thing anymore. It’s also an important opportunity for B2B.
Content-first design is an approach to web design that places content at the forefront of the design process.
Podcast Episodes
Leveraging Data Across the Entire Customer Lifecycle
This episode features an interview with Chris Koehler, the Chief Marketing Officer at Box. He is responsible for the global marketing strategy. In this episode, Kailey and Chris discuss cost-effective events, simplifying tools, and the culture of testing and learning.
Videos and Webinars
Visual Editing w/Next.js, Contentful, and Stackbit
Guides, Case Studies, and Reports
Using a personalization solution from Ninetailed, Pets Deli could quickly identify which pricing strategies were most effective in converting visitors into customers and make changes accordingly. The results? An increase in conversion rates of over 50%, plus a 10% lower bounce rate. This is even more impressive when compared to an industry conversion rate of 10 to 15%, according to a McKinsey report.
Upcoming Events & Webinars
There's been so much buzz recently about edge computing and much of it is well deserved. However, it's not always clear what we mean by edge computing and the nature of what it means can even differ across vendors. In this session, Austin Gil will explain what the term really means, when it's applicable (and when it's not), and how to get started.
That’s it from our side.
Hope you’ll enjoy the content presented above.
Please let us know if you have any questions, comments, or feedback. Don’t hesitate to reach out to us by replying to one of the emails or emailing directly to me via esat@experiencestack.co
And, if you think your friends or colleagues might enjoy reading this newsletter, feel free to forward it to them 🤗
Till next time 😉