Decide if you will collect the data using your own resource or receive it from another party. Typically, a brand will collect data to learn more about consumers who purchase their products and those who don’t.
There are three primary categories of data that brands collect for marketing purposes:
First-Party(IP) Data: An organization that collects data through a direct relationship with a consumer is called first-party data. Example: sales data, web traffic data, customer relationship data
Second-Party(2P) Data: A brand typically obtains second-party data through a data-sharing agreement. When an organization owns and shares data, the data it shares…