Welcome to the world of First-Party Data, where January Spring turns your audience into GOLD. Stay ahead of your competitors with a highly targeted audience list curated from your publishing data!
Now you may be wondering, what is First-Party Data?
First-Party Data is the valuable information freely shared from your customers or users. This data can be sourced from all the ways your readers interact with your publication:
- Website interactions
- Purchase history (event tickets, magazine subscriptions)
- Email subscriptions
- Contests
- Social media engagement
We call this GOLD because it’s something unique to you. No other media outlet has your audience. January Spring can help you leverage that unique value proposition and turn it into new, digital revenue.
But how reliable and accurate is it? You can breathe a sigh of relief, first-party data is highly reliable and accurate since it comes directly from your own customers or users.
How does it comply with privacy constraints? And here’s the icing on the cake – privacy compliance! First-party data is obtained ethically and in compliance with data protection regulations. Use is based on the terms and conditions each publisher sets forth when collecting that information. Since the data is collected directly from customers who have interacted with your brand, it aligns with privacy best practices.
Most Importantly- How do I use this data in ad campaigns?
- Customization and Personalization: Get ready to impress your advertisers with highly customized campaigns. Targeted messaging or tailored content will boost audience engagement rates.
- Audience Insights and Segmentation: Dive deep into your reader’s minds. First-party data helps you understand behaviors, preferences, and demographics, enabling you to deliver personalized experiences to different segments.
- Enhanced Ad Campaign Performance: Say hello to successful ad campaigns! By leveraging first-party data insights, we can optimize ad placements, creatives, and messages that resonate with your target audience, leading to higher click-through rates and return on ad spend (ROAS).
January Spring’s Case Study on First-Party Data GOLD:
Now, let’s dive into January Spring’s very own case study on First-Party Data GOLD.
In partnership with a city magazine publisher in the Midwest, we have developed a new revenue stream around the publisher’s first-party data. The goal is to sell first-party audience programs to advertisers as proprietary targeting with a higher CPM (Cost Per Thousand) value.
First things first, we needed to grow the size of the publisher’s first-party data lists through more:
- Event ticket sales
- Newsletter sign ups
- Best of contest entries
- Increased site traffic
The publisher has had a long relationship with Evvnt, a ticket selling platform that works with many of our publishers. Through the Evvnt platform, the publisher sells tickets to all sorts of activities, concerts, festivals, etc. Their database, when we started this case study, was 6,884 unique records.
Since the first of the year, we’ve seen that database grow by 25%. That growth gives this publisher more audience and more impressions to sell. More available inventory means more selling opportunity! We calculate the available inventory from this data set with this formula:
Size of the audience (8,605) multiplied by 3 potential impressions per day = 25,815 impressions per day that could be served to that full list of 8,605 ticket buyers. Over the course of a month, that means this publisher has the ability to deliver and sell up to 774,450 impressions.
Size of the first-party data list * 3 touches per day * 30 days = 774,450 incremental impressions. That is a potential, incremental 9 sales per month, if each program includes 80,000 impressions.
With January Spring’s help, our publisher developed ad programs for advertisers to purchase and market to the first-party audience. Note the retail price for the program – 80,000 impressions for $1,120. This publisher is selling the program at a $14 CPM; that is $4 more than what most programmatic ad campaigns demand in today’s market. That’s a 30% premium on an audience that cannot be purchased on any open exchange or through any other media company. It’s GOLD!
Here’s the long-term potential of the program:
With the growth of their first-party data set, the publisher has a more premium audience to target. That audience targeting demands a higher CPM.
25% growth in the first-party audience = 9 incremental programmatic packages & $10,000 in new monthly revenue.
50% growth in first-party audience = 11 incremental programmatic packages & $12,000 in new monthly revenue.
100% growth in first-party audience = 15 incremental programmatic packages & 16,500 in new monthly revenue.
So there you have it- First-Party Data and all the amazing ways it can work its magic for you! Let’s make your marketing journey an unforgettable one with GOLD and January Spring by your side. Cheers to success!