(ADOTAT) 9 Ways "Strangers Things" is Like First Party Data

Published: Wed, 01/25/23

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WEDNESDAY JANUARY 25th 2022

The Daily REYD tm

Let's face it, first-party data can be a little daunting and mysterious, much like the Upside Down in "Stranger Things." But just like how the characters of the show never back down from a challenge, you shouldn't be scared of collecting and utilizing first-party data. In fact, it's a powerful tool that can help you to stay ahead of the competition, create more effective marketing campaigns, and ultimately drive conversions, revenue, and customer satisfaction. So, grab your walkie-talkies, cameras, and first-party data, and let's dive into the world of online marketing and advertising, just like how the characters of "Stranger Things" dive into the Upside Down. Trust me, it's not as scary as it seems!

1) Just like how "Stranger Things" is set in the 80s, first-party data is a throwback to the good old days of targeted advertising. In the 1980s, targeted advertising was done through more traditional methods such as direct mail, telemarketing, and print ads.

Businesses would gather information about their customers through surveys, focus groups, and customer interactions. This data was then used to create targeted marketing campaigns that were tailored to specific customer segments.

Similarly, first-party data is data that is collected directly from a business's customers through various means such as website interactions, purchase history, and customer interactions. This data is then used to create targeted marketing campaigns that are tailored to specific customer segments.

The Netflix show "Stranger Things" is set in the 1980s, evoking a sense of nostalgia for that decade. Similarly, first-party data—data collected directly from consumers and used for targeted advertising—is making a comeback as advertisers realize its value and effectiveness.

Consider the power of understanding your customer when tailoring marketing efforts.

2). Both "Stranger Things" and first-party data are highly sought after by marketers and advertisers, just like how Eleven craves Eggos."Stranger Things" is a highly popular and critically acclaimed TV show, and as such, it is highly sought after by advertisers looking to tap into its fanbase and cultural significance. First-party data is highly sought after by marketers and advertisers because it provides valuable insights into a business's customers—insights that can be used to create more effective marketing campaigns.

Just as Eleven's yearning for Eggo waffles—which represent her desire to live a normal life—marketers crave access to first-party data because it gives them insight into their customers' needs and behaviors.

It helps businesses to engage customers more effectively, increasing their chances of attracting new business. It can help companies distinguish themselves in a sea of competitors.

3). First-party data—information that brands collect about their customers themselves, rather than buying it from a third party—gives Chief Marketing Officers and Agencies insight into consumer behavior. Just like the characters on "Stranger Things", who tap into the Upside Down's secret world by using unknown sensory insights to make connections between people, places and events.

With this understanding, CMOs and agencies can make better-informed decisions about product development, marketing strategies, and advertising campaigns. They can identify patterns and trends in consumer behavior, and use this information to create more effective marketing strategies. They can also use the insights to segment their target audience, and personalize their marketing messages to reach the right customer at the right time with the right message.

4) Remember how the characters of "Stranger Things" band together to fight off monsters? First-party data allows CMOs and agencies to team up and tackle the challenges of the digital advertising landscape. The role of first-party data in digital marketing is vital. It allows brands to create effective targeted campaigns that are relevant for consumers and drive results. First-party data can help companies understand their customers better, improve their marketing strategies, and achieve better ROI from their ad spend.

5) The use of first-party data in online marketing and advertising is like the use of the "Stranger Things" character's psychic abilities - it gives businesses an edge over their competition. First-party data is more valuable than third-party data. It allows marketers to tailor their messages directly to individuals within a large group, whereas third party usually offers broad demographic information about groups of people rather than specific individuals.

6) Similarly, "Stranger Things" is a nostalgic trip down memory lane, and first-party data allows businesses to tap into the nostalgia of their customers for more effective marketing campaigns. "Stranger Things" is set in the 1980s and features a nostalgic soundtrack, fashion, and references that evoke feelings of nostalgia in its viewers. The show's creators use this nostalgia as a way to connect with the audience and create a sense of familiarity and emotional connection. Similarly, businesses can use first-party data to tap into the nostalgia of their customers to create more effective marketing campaigns.

By analyzing their customers' purchase history, demographics, and preferences, businesses can gain insights into what products, services or experiences evoke feelings of nostalgia in their customers. They can use this information to create marketing campaigns that target these nostalgic emotions, and appeal to their customers' sense of nostalgia. For example, a company that sells vintage clothing could use first-party data to understand what styles and trends from the past are most popular with their customers and create a marketing campaign that evokes the nostalgia of that era.

First-party data allows businesses to personalize their marketing campaigns and create an emotional connection with their customers, just like how "Stranger Things" creates an emotional connection with its viewers through nostalgia. It can be a powerful tool to drive conversions, increase customer loyalty and ultimately increase revenue.

7) Both "Stranger Things" and first-party data are full of surprises - you never know what insights you'll uncover next.Stranger Things and first-party data are full of surprises. You never know what insights you'll uncover next, but we do know that getting your hands on this kind of data can seriously boost your business.

First-party data is information about your customers that comes directly from them, usually through surveys or other interactions with your brand. This kind of data helps you identify pain points, understand more about why people buy from you and what they're looking for in a product or service, and predict trends that may affect your bottom line.

8). The use of first-party data in online marketing and advertising is like the use of the "Stranger Things" character's gadgets and technology - it allows businesses to stay ahead of the curve. In "Stranger Things," the characters use gadgets and technology to help them navigate the unknown and uncover the mysteries of the Upside Down. They use tools like walkie-talkies, cameras, and even an electric shock device to gather information and protect themselves from the dangers they encounter. Similarly, businesses use first-party data as a tool to stay ahead of the curve in online marketing and advertising.

By collecting and analyzing first-party data, businesses can gain a deeper understanding of their customers' behaviors and preferences. They can use this information to create more effective marketing campaigns and target their advertising more precisely. With first-party data, businesses can stay ahead of the curve by identifying trends and patterns in consumer behavior before their competitors do. This can help them to create more effective marketing strategies and stay ahead of the competition.

9). In "Stranger Things" characters never give up, CMOs and agencies should never give up on collecting and utilizing first-party data to drive their marketing and advertising efforts. The characters in "Stranger Things" face many challenges, and they never give up in the face of adversity. They work together to uncover the truth, protect their friends and family, and ultimately find a way to overcome the dangers they encounter. Similarly, CMOs and agencies should never give up on collecting and utilizing first-party data to drive their marketing and advertising efforts.

First-party data is a valuable asset for businesses, it allows them to understand their customers better, create more effective marketing campaigns, and target their advertising more precisely. However, collecting and utilizing first-party data requires commitment, effort and a willingness to adapt and improve. It's not a one-time effort, but an ongoing process that requires continuous monitoring, analysis and improvement.

Our favorite characters in "Stranger Things" never give up in the face of adversity, CMOs and agencies should never give up on collecting and utilizing first-party data to drive their marketing and advertising efforts. It's a powerful tool that can help businesses to stay ahead of the competition, increase conversions, revenue, and customer satisfaction.

Owning and controlling your own data is increasingly becoming a primary driver for marketing strategy and investment, since it gives marketers access to insights about customers’ behavior that were previously unavailable.

The use of first-party data in online marketing and advertising can be compared to the use of the "Stranger Things" character's gadgets and technology, allowing businesses to stay ahead of the curve. Just as "Stranger Things" is a nostalgic trip down memory lane, first-party data allows businesses to tap into the nostalgia of their customers for more effective marketing campaigns.

Stranger Things' characters never give up, and CMOs should not either. They should always be collecting first-party data to help drive marketing efforts. Press Tab to write more...

It can help companies improve their bottom line by boosting revenue, increasing customer satisfaction and converting more prospects into customers.

Pesach Lattin
Pesach@lattin.us

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Paysend has announced the appointment of accomplished marketing specialist Rupert Bedell as Chief Marketing Officer. READ STORY

https://digitalbulldogs.com/contact-us/?trackingid=AdotatDec2022nws

TheRundown
At least 10 News Stories you Must Know
(but don't have time to read!)

1. As advertisers increasingly embrace clean rooms, there’s still plenty of laundry to fold. That’s according to the IAB’s 2023 State of Data report, based on a survey of “data decision-makers” across brands, publishers, and agencies. Released Tuesday, the report found that two-thirds of advertisers “leveraging privacy-preserving technology” were using data clean rooms. A data clean room is a catch-all term that can be boiled down to mean a technology that claims to allow users to merge datasets in a privacy-friendly way. Google and Amazon each have their own, while companies like Habu, InfoSum, and Permutive offer the tech outside of the walled gardens—acting as conduits. Essentially, clean rooms enable advertisers, publishers, platforms, and other parties to combine their first-party data “in compliance with privacy regulations while allowing each participant to maintain privacy and control of its data," according to the IAB. Almost half of advertisers are using clean rooms for what the report called “data-privacy actions."

2. Publishers who are nervous about what advertisers are planning should be heartened by some of the findings in Digital Advertising Trends in 2023, a study released Tuesday by Smartly.io, working with Insights Worldwide Business Research.Of the brands polled, 60% say they will invest more in digital advertising tools and technology in 2023. And 49% will spend on programmatic advertising in general. That means there’s money on the table: 41% of the respondents are spending $5 million to $10 million on digital advertising this year, and 27% will budget from $10 million to $20 million. In addition, 22% will spend more than $20 million. But there are numerous pain points for digital advertisers that publishers should be aware of, including: Macroeconomic factors—50% Increased competition—49% Maximizing efficiency & ROI—48% Producing enough creative—48% Measurement and attribution—47% Managing a growing number of channels and platforms—38% Privacy/targeting changes—37%% Securing sufficient budget—35%%

3. Are you a Google Ads advertiser? If so, you're in danger of having your brand co-opted by spam messages promoting sex websites and scams. Threat actors are using the Google Ads admin interface to send bulk email invitations that, coming from Google, bypass recipient spam filters.

Users around the world are reporting receiving emails from authentic Google Ads accounts that are catching their attention. These bogus invite emails, sent from Google's servers entice users to visit spam links contained in the email message. The URLs contained in these invite emails ultimately redirected users to dodgy websites pushing adult dating sites, with many appearing to be designed to collect personal information from visitors.

Reporting these emails as spam may block legitimate emails from Google.

4. Amazon announces its new RxPass service, which offers $5 generic prescription refills for Prime members. The service is available now in most U.S. states as an add-on to Amazon’s $139-per-year Prime membership. The medications can treat more than 80 common conditions including diabetes, high blood pressure, hair loss and erectile dysfunction, according to Amazon. Amazon purchased online pharmacy PillPack for $753 million in 2018 and launched Amazon Pharmacy in 2020. It also offers an online telehealth service Amazon Clinic that pairs patients with third-party doctors who can diagnose common conditions, and is currently awaiting regulatory approval for its $3.9 billion acquisition of primary care chain OneMedical.

5. Ruper Murdoch is abandoning his effort to reunite his media empire via a proposed merger of Fox Corp. and News Corp. Murdoch sent a letter to the boards of both companies, Murdoch said that a combination of the two companies was “not optimal” for shareholders. The potential merger had faced pushback from large News Corp and Fox shareholders such as Independent Franchise Partners and Irenic Capital Management. The firms argued that a combination would not help realize the full value of News Corp, which owns newspaper and publishing businesses such as Wall Street Journal parent Dow Jones and HarperCollins. In a letter sent by Irenic to News Corp’s special committee, the firm, which holds approximately 2% of News Corp’s Class B voting shares, indicated that while a merger of Fox and News Corp was in the best interest of the Murdochs—the companies’ largest shareholders—that was not necessarily the case for all shareholders of News Corp. “Your responsibility is to maximize the value for all News

6. After years of being kind of against it, Google has urged advertisers to turn to agencies and third-party resellers as it conducts one of the largest layoffs in its history.Why the pivot? It makes sense, really. Google wants to reduce overhead related to advertising services, which means there will be fewer Ads representatives.At the same time, agencies and sellers—also known as Google Partners—will be pushed to meet huge ad spends and keep increasing them… to the benefit of the platform, of course.

8. Bolt, the one-click checkout startup that slashed staff at least twice last year as growth fell short of its goals, laid off around 10% of employees on Tuesday—which is to say around 50 people. The cuts were made to cut down on the company's headcount and were targeted at employees with poor performance ratings, one person with direct knowledge said. In an all-hands meeting Tuesday following the most recent layoffs, CEO Maju Kuruvilla said that "quite a few" of Bolt's bets hadn't worked out. That included partnerships, new products and acquisitions—all of which have been delayed. Kuruvilla also said that Bolt's headcount was too big, relative to its growth.

9. DirecTV dropped Newsmax as of midnight Wednesday, citing cost reasons. Republicans are charging that DirecTV is trying to squelch dissemination of conservative viewpoints, and threatening to hold hearings to investigate the matter. DirecTV said it continued to carry Newsmax on its satellite and streaming services and U-verse TV when it involved no cost to subscribers, but Newsmax’s demand for carriage fees made continuing the relationship untenable. “On multiple occasions, we made it clear to Newsmax that we wanted to continue offering the network, but ultimately Newsmax’s demands for rate increases would have led to significantly higher costs that we would have to pass on to our broad customer base,” DirecTV said in a statement. "Anyone, including our customers, can watch the network for free via NewsmaxTV.com, YouTube.com and on multiple streaming platforms like Amazon Fire TV, Roku, and Google Play."

10. Basis Technologies, which provides cloud-based workflow automation and business intelligence, on Tuesday announced the availability of programmatic guaranteed buying.The platform allows marketers to buy inventory from a variety of supply partners, including Magnite, OpenX, Triton Digital, Tubi, Beachfront, Connatix, Equativ and more. Jamie Stevenson, a senior visual strategist at full-service digital agency Kreps Creative said she began using the platform in November with a direct deal with Hulu through Disney ad sales promoting a luxury brand. "I managed and loaded the campaigns into Hulu through the Basis platform," she said. "It gave me so much more information that I would not have had through a direct buy." Rather than contacting a rep and waiting two days, Stevenson could look at the dashboard to view how impressions were delivered on the video campaign, get a view-rate count and determine how well the campaign paced to ensure it was on track.

The Watercooler
Impress your Co-Workers with these useless facts about marketing

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