Read time: 4 mins
In this week’s issue, I want to talk about how you can own and leverage first-party data that will give you instant authority in any local market as a Local Small Business Consultant or Digital Marketing Agency Owner…
If you can command an audience’s attention at any given time…
You have the ability to practically print money.
So with that in mind…
Let’s dive in!
What Is First-Party Data?
First, let’s define what exactly “first-party data” actually means…
It’s probably easiest to explain by giving you some examples of first-party data…
- Demographics
- Behaviors
- Website Activity
- Email Engagement
- Purchase History
- Mobile App Data
- Support Calls
- Customer Feedback
- Etc.
To sum it up…
First-party data is the most reliable and unique piece of information, coming from your own sources.
By contrast…
Second-party data is shared with other sources and might have less accuracy.
An example of second-party data may include something like social media profiles.
Third-party data is defined as data from unknown sources.
And more importantly, this third-party data is usually from several businesses with no direct relationship with the customer.
So now that we have clearly defined what “first-party data” is, let me explain why you want to own first-party data.
Why You Want To Own First-Party Data
As I previously mentioned…
First-party data is the most accurate data you can have about someone (without actually being them – “zero-party data”).
And with the changes to how social media sites like Facebook can gather first-party data…
You can no longer really rely on those sources to provide you with accurate first-party or even second-party data.
Especially with the changes that Apple has implemented over the past few years with their iOS14+ updates.
So if you want reliable first-party data, then it’s more important than ever to gather the first-party data yourself.
So that begs the question…
How can you collect first-part data yourself?
How You Can Collect First-Party Data
This is where the fun begins!
Normally it’s quite difficult to gather first-party data, especially demographics…
Not to mention personal information.
But what if there was a way that you could do it ethically?
What if you could not only do it ethically, but also extremely cheap?
I put this theory to the test about six years ago…
And got amazing results where I was generating leads for as little as a quarter each…
Plus just about half of them filled out a 35 question survey/questionnaire.
Yes, you read that right – 35 freakin’ questions!
And low and behold it works just as well today as it once did six years ago.
So how am I generating the leads willing to fill out a 35 question survey/questionnaire?
Unfortunately, it’s too much to get into in this week’s newsletter…
So sorry, but you’ll just have to wait and read all about it in next week’s issue. 🙂
How To Leverage First-Party Data You Own
Once you have a massive list of leads with almost half of them willing to fork over just about anything you’d like to know about them…
That gives you the upper hand in just about any local market.
Basically, whoever owns the data, owns the market.
So do you think that if you can command the attention of thousands, tens of thousands, or even hundreds of thousands of people in a given local market…
That it might be valuable information for local small businesses in the same local market?
Of course it would!
In fact, local small businesses should be willing to fork over just about anything…
Including their first born child in order to put their business in front of your first-party data source (your list – their perfect audience).
And no I’m not kidding…
I’m being 100% serious here.
If you can show a local small business owner what you have to offer…
How they can leverage your list to benefit their business…
You will have an absolute goldmine on your hands.
There’s no doubt about it.
And this isn’t a theory…
It’s working for me right now as I type this newsletter to you.
Next week I’ll go into all the details on how I’m generating leads…
Gathering the first-party data…
And exactly how I’m leveraging it in terms of getting paid by local small businesses.
I hope you can see just how invaluable this is…
And hopefully this newsletter has got you excited about all of the possibilities…
But most importantly, your mind buzzing with ideas…
See you next Monday!
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