Joe Duccareaux: Hello and welcome to this Essential B2B Webinar brought to you by Lead Forensics entitled ‘Is Your First Party Data Strategy Costing You Customers?’ I am your host Joe Duccareaux and in this webinar we are going to be exploring how to use first party data to lead the way in your industry. How to make the difference for your prospects and customers and to turn them into willing advocates and we’re also going to discuss the necessary steps to ensure your data is collected, stored and used responsibly. So joining me to discuss first party data are Phil Richardson, Managing Director of Shortlist Marketing. Hi Phil, how are you doing?
Phil Richardson: Hi, very good thanks Joe.
Joe: We are also joined by Richard Preston, Business Development Manager for Shortlist Marketing. Hello Richard.
Richard Preston: Hi Joe, thanks for having me.
Joe: It’s my absolute pleasure. We are also joined by Paul Belworthy, Head of Sales and Marketing at Gob2b. How are you doing Paul?
Paul Belworthy: I’m very good Joe.
Joe: Fantastic stuff. We are going to be using the chat function on today’s webinar so for everybody watching in the audience, if you have a question for our panel please stick it in the chat and if we have time at the end of the conversation we will put it to the panel. So let’s get started with the webinar. I was always told when you’re discussing anything your first step should be to define your terms. So I would like to ask what exactly is first party data? Who would like to take that one for us?
Phil: I can jump in there. For me first party data, certainly for this webinar we are looking at first party sales and marketing data. Looking at how we can maximise customers coming from that first party data. For me, first party data is the data that your brand gathers about your own customers, your prospects, your leads and your wider target market. So this is the interactions that you have with people who come and visit you at trade stands, it’s interactions that your sales people have with your customers, your prospects, interactions your customer service staff have, your inside sales team have – is all first party data. One of the things we’ve seen a huge amount of is the growth in digital first party data and this can include things like email engagements and opens and behaviours around email. Social media engagements and what people are engaging with online and crucial website visitors and the behaviour on your own personal website. I started in marketing many years ago and there was an adage we had back then which was 50% of my marketing works, the problem is I don’t know which 50%. Because one of the issues we had is that we didn’t have the analytics so for me now with the growth in first party data, we have so much data to give us an understanding of what’s happening across our entire sales and marketing function. Hopefully, organisations will never have to sit there anymore and think about what works and what doesn’t work. This session is all about how we can use that first party data to ensure we maximise our customer experience and get more customers.
Joe: That’s quite a terrifying adage that you’ve come out with. 50% works but I don’t know which. That’s a large proportion and a lot not to know about.
Phi: You didn’t know which prompted because you were going out, you were doing PR, you were doing advertising, all of it was on static media, we weren’t getting any feedback. So we knew we were getting people phoning in or contacting us but we didn’t know why. We just had to do all of it.
