Are You Investing Enough In Your Owned Marketing Channels?
As a data-driven marketer, it’s tricky navigating this era of ever-changing privacy restrictions. We’re facing the dearth of the third-party cookie, Apple continues to unveil new privacy measures, and we can expect this trend to continue over the coming years. One thing to consider? Optimizing your owned marketing channels can make all the difference.
As much as marketers are tapping into the power of their customer data, there is still so much value to be uncovered in their owned marketing channels, including the website, blog, email, and social channels. Read on for some key strategies for leveraging your owned marketing channels to adapt to the privacy changes happening now and in the future.
The Importance of First-Party Data
One key thing to do is come up with a plan for gathering comprehensive first-party using your owned marketing channels. First-party data is all of the information that a brand collects directly from the customer, with their consent. It’s critical for improving relationships with customers and driving better business results.
One thing you could do, if you are not already, is ask website visitors to register. You could also enrich your data with demographic data based on click engagements.
Which Marketing Channels Are Owned?
Owned marketing channels include a brand’s website, blog, app, email, videos, podcasts, and social profiles. Any marketing channel that a brand has complete control and ownership over is considered “owned.”
We were thrilled to co-present “3 Reasons Your Owned Marketing Channels Are More Valuable Than You Realize” with Evan Szanzer, CEO of agency partner Marketing Seal, to discuss this topic in detail. View the recorded webinar to learn more.
Get More Value Out of Your Owned Marketing Channels
Focusing more of your time and attention on your owned channels can help you build long-term relationships with both current and potential customers. With your owned channels you have full control of the creative, messaging, and content, which makes developing a strong brand identity that much easier.
As a marketer, you’re always comparing the ROI and effectiveness of your marketing channels. Think for a minute about how much you’re spending on paid channels–the ones impacted by privacy changes, and the ones that don’t provide complete creative control.
A.I. technology allows digital and e-commerce marketers to get the most out of the data gathered via their owned channels (also known as first-party data), and expands personalization efforts to new customer segments and journeys. With this process of optimizing the level of personalization, they are better able to predict customer outcomes and grow customer lifetime value.
Protect Your Brand and IP
There’s even more hidden value in your owned marketing channels, and this goes back to the level of control. Ecommerce brands are understandably eager to reach a wide audience, and they often do this through third-party marketplaces and channels. Unfortunately, selling through the biggest, global channels can expose your products to manufacturers who might copy your designs, use inferior materials or manufacturing processes, and undercut you on pricing. When people are buying cheap copies of your products it hurts your brand as well as your bottom line.
Instead of going full-force with third-party marketplaces, brands can optimize their owned channels and protect their brand and product designs at the same time. As we said earlier, you have full control of and access to data that is collected on your website, as opposed to transactions that take place in a third-party marketplace or channel.
Optimize Email, the Powerhouse of Your Owned Channels
Email marketing is a key owned channel, and we can’t talk about it without covering customer segmentation. A lot of brands are still putting a lot of time and guesswork into manually segmenting their customers. They have the right intentions, in terms of trying to deliver the right content and offers to different customer segments, but there’s real value in A.I.-enabled, automated segmentation, whereby individual customers are assigned and reassigned to buying stages based on their behavior.
Use High-Value Brand Content to Connect With Your Customers
When you are developing content for your owned channels–the website and blog, email, SMS, and social media posts, you have full creative control, and are able to build your brand through your content and messaging. Leveraging high-value brand content in your owned channels can drive customers to your website, nurture engagement, and build brand loyalty.
With an ever-growing portion of customers buying online, it’s critical to ensure that your website offers great content and a great buying experience for new and returning customers. An essential part of a great online buying experience is engaging your customer with helpful, informative, and entertaining content, such as recipes, product how-tos, decorating tips, and holiday and event planning ideas.
Your Owned Marketing Channels Are More Valuable Than You Realize
We already mentioned your ability to gather valuable, reliable first-party data via your owned channels. You can use this data to improve the effectiveness of your marketing programs, despite sweeping data privacy changes. You also have complete creative control with your owned channels, which is important for developing a strong brand identity and customer engagement. Lastly, your brand, product designs, and IP are better protected.
Putting time into your owned channels and first-party data strategy now will pay dividends over the long term and give you a competitive edge over brands that are not prepared for upcoming data privacy changes.
How Can Agencies Partner With ReSci?
So glad you asked! ReSci has built some great relationships with agencies and brands via our agency partnerships. A partnership with Retention Science allows you to grow your agency while supporting your clients’ growth. You can expand your services offering with the only A.I.-powered email marketing automation platform, one that provides highly personalized customer experiences and intelligent segmentation and targeting.
We’re also happy to share more about how our A.I.-enabled marketing automation solution could support your email, SMS, and multichannel marketing objectives. Reach out to us for a customized demo.
ReSci is a team of marketers and data scientists on a mission to democratize AI. We make powerful recommendations and predictions accessible to brands.
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