In 2021, and moving forward, one of the most important ways that a brand can measure customer loyalty is by how much data and insights their customers are willing to share with them, legally and ethically, for fair value rewards and personalization. Enterprise start-ups that are starved of customer data will never take off, and incumbents that can’t achieve, or suddenly lose, customer trust will vanish.
Luxury Institute and DataLucent define primary data as consisting of genuine, authentic content and personal data that are generated, collected, compiled, and shared by individuals.
Primary data comes in many forms. Some of the most powerful include social media profiles from Facebook, Google, Instagram, Apple and other digital platforms with complete histories of content and metadata, Amazon and other e-commerce platform shopping history, recommendations, and searches, and direct engagements with consumers via online surveys and other means.
All primary data begins with a verified individual – a human being. It represents the most original, authentic personal data possible. Primary data is the richest most accurate collection of digital information in the history of the Internet because only the individual can access and share this verified, cross-platform data.
For top-tier brands, agencies, and consultants that embrace true digital transformation, primary customer data will become the obvious choice for personal data, which, when combined with first-party data, will optimize business models in the roaring 20s. For the high-performance brands of the next data generation, the new era of sourcing primary customer data has already begun.