Skip navigation
Responsible Marketing with First-Party Data
Article

Responsible Marketing with First-Party Data



Editorial Rating

8

Qualities

  • Applicable
  • Overview
  • Hot Topic

Recommendation

Your customers no longer just want a great product at a good price – they want a product that feels individualized and relevant to their unique lifestyles. Sound like a daunting task? In this report, the Boston Consulting Group explores 70+ interviews conducted with leading European companies to get a clearer picture of how successful firms wield first-party data in the fight for market relevance. Based on these findings, the authors offer practical tips for collecting, analyzing, using and sharing data without violating your customers’ trust.

Take-Aways

  • Historically, companies won market share by making a better, cheaper product; now, your must personalize your product to each customer.
  • Personal data is the key to an individualized customer experience. Getting personal data requires that you cultivate the customer's trust.
  • To build trust when collecting personal data, make your efforts visible and explain how data collection will benefit the customer.

About the Authors

Shilpa Patel is a Managing Director & Partner, Dominic Field is a Senior Advisor, and Henry Leon is a Principal in the Boston Consulting Group’s London office.