Data has become valuable for businesses. Companies use consumer behavior and predictive analytics to capture and analyse this data. The information is valuable as it’s the gear to the company’s economic power that produces and controls it. Through advanced technology, they can analyse, contextualize, and monetize it. That’s why big firms are collecting and processing this data. Now the question is how do these firms collect the customer database?
How do companies collect customer data?
Here are ways firms collect consumer data.
Through websites, Cookies, and Web Beacons
The best database providers are proficient and have the right technology to get consumer data from different online sources. The most common place is the firm’s website, where they have cookies and web beacons. These technologies allow firms to track visitors’ browsing history even if they leave the site.
Through cookies, the company knows where customers have been and what they looked for, and where they went after browsing. After getting this information, they can retarget consumers with ads. For instance, when searching for handbags on a website, it’s obvious to get ads related to this everywhere when browsing. Small to midsize firms can use retargeting cookies like Google Adwords on the Google Display Network and Facebook Pixel.
Data Companies
Firms are buying and selling data from and to third parties. Today the best database providers collect, analyse, and sell customer and business data. They do this to accomplish targeted advertising campaigns. Most big data companies get the data from small companies, eCommerce sites, and many other sources.
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Company records and social media
Other ways they collect data are:
- Through their customer service
- Sales records
- Transaction histories
- How have customers interacted with sales and support departments?
Today, everyone is on social media, and it’s another source of data. It can be helpful if customers use Facebook accounts to log into 3rd party applications that a firm provides. Note that any data a consumer shares publicly on social media is accessible to anyone online.
Email Tracking, Apps, and Third-Party Trackers
Email tracking is another way for firms to collect consumer data for actionable insights. Through this method, companies can learn that a person has opened an email, where they did it, and on what device. Why they can access this information is that most emails sent around the world are tracked. In addition, companies can use apps with third-party trackers as a source of customer data. Some of this data helps analyse and understand how people use apps. Most data is mainly for targeted advertising, location tracking, and behavioural analytics.
There are different methods companies use to collect data. They use email tracking, company records, social media, website cookies, web beacons, and data companies. The most demanding task is analysing all that data to get actionable insights. So, they need a clear plan to help them acquire high-quality data.